Amiral Gestion Purchases Shares of 1,300 Spotify Technology S.A. (NYSE:SPOT)

Amiral Gestion bought a new position in Spotify Technology S.A. (NYSE:SPOT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,300 shares of the company's stock, valued at approximately $582,000. Spotify Technology makes up about 0.4% of Amiral Gestion's holdings, making the stock its 24th biggest holding.

Several other hedge funds have also recently modified their holdings of SPOT. Mpwm Advisory Solutions LLC purchased a new position in shares of Spotify Technology in the fourth quarter valued at $26,000. Hillsdale Investment Management Inc. bought a new position in Spotify Technology during the fourth quarter valued at $27,000. Quent Capital LLC lifted its position in Spotify Technology by 135.7% during the fourth quarter. Quent Capital LLC now owns 99 shares of the company's stock valued at $44,000 after purchasing an additional 57 shares during the last quarter. Noble Wealth Management PBC purchased a new position in shares of Spotify Technology in the 4th quarter worth $52,000. Finally, Colonial Trust Co SC increased its holdings in shares of 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 buying an additional 111 shares during the last quarter. Hedge funds and other institutional investors own 84.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on SPOT shares. JPMorgan Chase & Co. increased their price target on shares of Spotify Technology from $640.00 to $670.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Citigroup raised their price target on Spotify Technology from $540.00 to $720.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. Loop Capital upped their price target on shares of Spotify Technology from $435.00 to $550.00 and gave the company a "hold" rating in a report on Friday, May 2nd. Rosenblatt Securities reduced their price target on Spotify Technology from $658.00 to $657.00 and set a "neutral" rating on the stock in a report on Wednesday, April 30th. Finally, Canaccord Genuity Group raised their price target on Spotify Technology from $700.00 to $775.00 and gave the stock a "buy" rating in a research note on Tuesday, May 20th. Eight research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $609.07.

Spotify Technology Stock Down 0.1%

Shares of NYSE SPOT traded down $0.81 during trading hours on Tuesday, hitting $653.01. 1,704,986 shares of the stock were exchanged, compared to its average volume of 2,210,493. Spotify Technology S.A. has a 12 month low of $288.07 and a 12 month high of $670.69. The firm has a fifty day moving average price of $595.79 and a 200-day moving average price of $545.55. The company has a market cap of $133.68 billion, a PE ratio of 109.75 and a beta of 1.72.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its quarterly 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%. Spotify Technology's revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.97 earnings per share. As a group, equities analysts anticipate that Spotify Technology S.A. will post 10.3 earnings per share for the current fiscal year.

About Spotify Technology

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.