477 Shares in Spotify Technology S.A. (NYSE:SPOT) Bought by Wexford Capital LP

Wexford Capital LP purchased a new position in Spotify Technology S.A. (NYSE:SPOT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 477 shares of the company's stock, valued at approximately $213,000.

A number of other hedge funds also recently modified their holdings of SPOT. Merit Financial Group LLC increased its position in shares of Spotify Technology by 243.7% in the fourth quarter. Merit Financial Group LLC now owns 3,248 shares of the company's stock worth $1,453,000 after purchasing an additional 2,303 shares during the period. HB Wealth Management LLC grew its position in Spotify Technology by 49.4% in the fourth quarter. HB Wealth Management LLC now owns 1,721 shares of the company's stock valued at $770,000 after acquiring an additional 569 shares during the last quarter. LVW Advisors LLC bought a new position in Spotify Technology in the fourth quarter valued at about $292,000. Diversify Advisory Services LLC bought a new position in Spotify Technology in the fourth quarter valued at about $391,000. Finally, MassMutual Private Wealth & Trust FSB grew its position in Spotify Technology by 1,121.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 574 shares of the company's stock valued at $257,000 after acquiring an additional 527 shares during the last quarter. Institutional investors own 84.09% of the company's stock.

Spotify Technology Price Performance

SPOT opened at $664.55 on Tuesday. Spotify Technology S.A. has a fifty-two week low of $288.07 and a fifty-two week high of $669.00. The firm has a market capitalization of $136.04 billion, a PE ratio of 111.69 and a beta of 1.72. The company's 50-day moving average is $588.18 and its 200 day moving average is $536.48.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted 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). Spotify Technology had a return on equity of 25.56% and a net margin of 7.26%. The firm had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.22 billion. During the same period in the prior year, the business earned $0.97 EPS. Spotify Technology's quarterly revenue was up 15.2% compared to the same quarter last year. As a group, analysts expect that Spotify Technology S.A. will post 10.3 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SPOT shares. Loop Capital lifted their target price on Spotify Technology from $435.00 to $550.00 and gave the company a "hold" rating in a research report on Friday, May 2nd. Canaccord Genuity Group lifted their target price on Spotify Technology from $650.00 to $700.00 and gave the company a "buy" rating in a research report on Wednesday, February 5th. Morgan Stanley lifted their target price on Spotify Technology from $550.00 to $670.00 and gave the company an "overweight" rating in a research report on Wednesday, February 5th. Cantor Fitzgerald decreased their target price on Spotify Technology from $600.00 to $520.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Finally, The Goldman Sachs Group lifted their price target on Spotify Technology from $550.00 to $695.00 and gave the company a "buy" rating in a research note 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.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $606.48.

Spotify Technology Profile

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.

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