Amiral Gestion Makes New Investment in Spotify Technology S.A. (NYSE:SPOT)

Amiral Gestion bought a new position in Spotify Technology S.A. (NYSE:SPOT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,300 shares of the company's stock, valued at approximately $582,000. Spotify Technology accounts for 0.4% of Amiral Gestion's investment portfolio, making the stock its 24th largest holding.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mpwm Advisory Solutions LLC acquired a new position in Spotify Technology in the 4th quarter worth $26,000. Hillsdale Investment Management Inc. acquired a new position in Spotify Technology in the 4th quarter worth $27,000. Quent Capital LLC boosted its stake in Spotify Technology by 135.7% in the 4th quarter. Quent Capital LLC now owns 99 shares of the company's stock worth $44,000 after purchasing an additional 57 shares during the period. Noble Wealth Management PBC acquired a new position in Spotify Technology in the 4th quarter worth $52,000. Finally, Colonial Trust Co SC boosted its stake in Spotify Technology by 1,009.1% in the 4th quarter. Colonial Trust Co SC now owns 122 shares of the company's stock worth $55,000 after purchasing an additional 111 shares during the period. 84.09% of the stock is owned by institutional investors and hedge funds.

Spotify Technology Stock Down 2.2%

Spotify Technology stock traded down $14.48 during trading hours on Thursday, hitting $649.48. The stock had a trading volume of 886,882 shares, compared to its average volume of 2,206,297. The stock has a market capitalization of $132.95 billion, a P/E ratio of 109.28 and a beta of 1.72. Spotify Technology S.A. has a 12-month low of $288.07 and a 12-month high of $671.24. The stock's 50-day moving average price is $598.28 and its 200-day moving average price is $547.11.

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 the consensus estimate of $2.29 by ($1.16). The firm had revenue of $4.41 billion during the quarter, compared to analysts' expectations of $4.22 billion. Spotify Technology had a return on equity of 25.56% and a net margin of 7.26%. The firm's quarterly revenue was up 15.2% on a year-over-year basis. During the same period last year, the firm posted $0.97 earnings per share. On average, research analysts expect that Spotify Technology S.A. will post 10.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Citigroup increased their price objective on shares of Spotify Technology from $540.00 to $720.00 and gave the stock a "neutral" rating in a research note on Friday, February 14th. Barclays reduced their price objective on shares of Spotify Technology from $710.00 to $650.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Canaccord Genuity Group increased their price objective on shares of Spotify Technology from $700.00 to $775.00 and gave the stock a "buy" rating in a research note on Tuesday, May 20th. Cantor Fitzgerald lowered their price target 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, Rosenblatt Securities lowered their price target on Spotify Technology from $658.00 to $657.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 30th. Eight equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $609.07.

Spotify Technology Company 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.