Concentric Capital Strategies LP boosted its holdings in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 124.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,362 shares of the company's stock after purchasing an additional 13,510 shares during the period. Concentric Capital Strategies LP's holdings in Spotify Technology were worth $10,899,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. increased its position in Spotify Technology by 11.8% in the third quarter. Principal Financial Group Inc. now owns 39,578 shares of the company's stock worth $14,586,000 after purchasing an additional 4,192 shares during the period. Park National Corp OH raised its stake in shares of Spotify Technology by 4.1% during the fourth quarter. Park National Corp OH now owns 793 shares of the company's stock worth $355,000 after buying an additional 31 shares during the last quarter. First Hawaiian Bank boosted its stake in Spotify Technology by 5.7% in the fourth quarter. First Hawaiian Bank now owns 4,098 shares of the company's stock valued at $1,833,000 after acquiring an additional 222 shares during the last quarter. Harbor Capital Advisors Inc. raised its position in shares of Spotify Technology by 2.4% during the 4th quarter. Harbor Capital Advisors Inc. now owns 1,398 shares of the company's stock valued at $625,000 after acquiring an additional 33 shares during the last quarter. Finally, West Oak Capital LLC boosted its stake in Spotify Technology by 449,633.3% during the 4th quarter. West Oak Capital LLC now owns 26,984 shares of the company's stock worth $12,072,000 after acquiring an additional 26,978 shares during the last quarter. 84.09% of the stock is owned by institutional investors.
Spotify Technology Price Performance
Shares of SPOT opened at $634.42 on Wednesday. The stock's fifty day moving average price is $571.98 and its two-hundred day moving average price is $519.24. Spotify Technology S.A. has a 1 year low of $286.21 and a 1 year high of $653.32. The firm has a market cap of $129.87 billion, a PE ratio of 106.63 and a beta of 1.72.
Spotify Technology (NYSE:SPOT - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $1.13 EPS for the quarter, missing the consensus estimate of $2.29 by ($1.16). The company had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.22 billion. Spotify Technology had a return on equity of 25.56% and a net margin of 7.26%. The firm's revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.97 EPS. Sell-side analysts anticipate that Spotify Technology S.A. will post 10.3 earnings per share for the current fiscal year.
Analyst Ratings Changes
SPOT has been the topic of a number of research analyst reports. China Renaissance initiated coverage on Spotify Technology in a research report on Wednesday, March 26th. They set a "buy" rating and a $740.00 price target on the stock. Guggenheim reiterated a "buy" rating and set a $675.00 target price on shares of Spotify Technology in a report on Monday, February 24th. Redburn Atlantic began coverage on shares of Spotify Technology in a research note on Tuesday, March 11th. They set a "neutral" rating and a $545.00 price objective on the stock. KeyCorp lowered their price target on shares of Spotify Technology from $675.00 to $625.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Finally, The Goldman Sachs Group boosted their target price on shares of Spotify Technology from $550.00 to $695.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Eight research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, Spotify Technology has a consensus rating of "Moderate Buy" and a consensus target price of $604.76.
Read Our Latest Stock Analysis on SPOT
About Spotify Technology
(
Free Report)
Spotify Technology SA, together with its subsidiaries, provides audio streaming subscription services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Spotify Technology, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Spotify Technology wasn't on the list.
While Spotify Technology currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of ten stocks that are set to soar in Spring 2025, despite the threat of tariffs and other economic uncertainty. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
