Clarius Group LLC acquired a new stake in Spotify Technology (NYSE:SPOT - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 594 shares of the company's stock, valued at approximately $327,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. GQG Partners LLC acquired a new position in Spotify Technology during the 4th quarter valued at about $800,725,000. Geode Capital Management LLC boosted its position in shares of Spotify Technology by 561.6% during the fourth quarter. Geode Capital Management LLC now owns 1,483,392 shares of the company's stock valued at $659,841,000 after buying an additional 1,259,183 shares during the last quarter. Norges Bank purchased a new position in shares of Spotify Technology during the fourth quarter valued at approximately $396,028,000. Janus Henderson Group PLC grew its holdings in Spotify Technology by 325.9% during the fourth quarter. Janus Henderson Group PLC now owns 1,125,465 shares of the company's stock worth $503,316,000 after buying an additional 861,232 shares in the last quarter. Finally, Northern Trust Corp raised its position in Spotify Technology by 103.7% in the 4th quarter. Northern Trust Corp now owns 1,426,902 shares of the company's stock valued at $638,367,000 after buying an additional 726,245 shares during the last quarter. Institutional investors own 84.09% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on SPOT. Rosenblatt Securities cut their price objective on shares of Spotify Technology from $658.00 to $657.00 and set a "neutral" rating on the stock in a report on Wednesday, April 30th. DZ Bank lowered shares of Spotify Technology from a "strong-buy" rating to a "strong sell" rating in a research note on Friday, June 13th. China Renaissance assumed coverage on shares of Spotify Technology in a research report on Wednesday, March 26th. They set a "buy" rating and a $740.00 target price on the stock. FBN Securities assumed coverage on Spotify Technology in a report on Friday, March 28th. They issued a "sector perform" rating and a $645.00 target price for the company. Finally, Wells Fargo & Company lifted their price target on Spotify Technology from $690.00 to $740.00 and gave the stock an "overweight" rating in a report on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Spotify Technology currently has a consensus rating of "Moderate Buy" and an average price target of $630.28.
Read Our Latest Stock Report on SPOT
Spotify Technology Trading Down 1.5%
Shares of SPOT stock opened at $710.76 on Friday. The firm's 50 day moving average is $643.00 and its 200 day moving average is $572.69. The stock has a market capitalization of $145.50 billion, a P/E ratio of 117.87, a PEG ratio of 1.86 and a beta of 1.68. Spotify Technology has a 12 month low of $288.07 and a 12 month high of $728.80.
Spotify Technology (NYSE:SPOT - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $1.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.29 by ($1.16). Spotify Technology had a net margin of 7.19% and a return on equity of 22.53%. The business had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.22 billion. During the same period in the previous year, the firm earned $0.97 EPS. The company's revenue was up 15.2% compared to the same quarter last year. On average, equities analysts predict that Spotify Technology will post 10.3 EPS for the current year.
Spotify Technology Company Profile
(
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.
Featured Stories
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 seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
