Calamos Advisors LLC Has $19.32 Million Stock Holdings in Spotify Technology (NYSE:SPOT)

Calamos Advisors LLC increased its position in Spotify Technology (NYSE:SPOT - Free Report) by 63.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,123 shares of the company's stock after acquiring an additional 13,626 shares during the period. Calamos Advisors LLC's holdings in Spotify Technology were worth $19,319,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Tsfg LLC acquired a new position in Spotify Technology during the 1st quarter valued at about $28,000. North Star Investment Management Corp. boosted its holdings in shares of Spotify Technology by 52.8% in the first quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock valued at $30,000 after acquiring an additional 19 shares in the last quarter. Mpwm Advisory Solutions LLC acquired a new position in shares of Spotify Technology during the fourth quarter valued at approximately $26,000. Hillsdale Investment Management Inc. bought a new stake in Spotify Technology during the fourth quarter worth approximately $27,000. Finally, Copia Wealth Management acquired a new stake in Spotify Technology in the fourth quarter worth approximately $29,000. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Stock Performance

Shares of SPOT stock traded up $14.48 during trading on Friday, hitting $723.98. 1,078,903 shares of the company were exchanged, compared to its average volume of 2,223,457. The firm has a market capitalization of $148.20 billion, a price-to-earnings ratio of 120.06, a P/E/G ratio of 1.91 and a beta of 1.68. The business's 50-day simple moving average is $678.50 and its 200 day simple moving average is $591.86. Spotify Technology has a twelve month low of $288.07 and a twelve month high of $785.00.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its quarterly 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 net margin of 7.19% and a return on equity of 22.53%. The company had revenue of $4.41 billion for the quarter, compared to analysts' expectations of $4.22 billion. During the same quarter in the prior year, the firm earned $0.97 earnings per share. The company's revenue was up 15.2% on a year-over-year basis. On average, equities analysts forecast that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

SPOT has been the topic of several research analyst reports. 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. Phillip Securities raised Spotify Technology to a "moderate sell" rating in a research note on Monday, May 5th. Loop Capital boosted their price target on shares of Spotify Technology from $435.00 to $550.00 and gave the stock a "hold" rating in a research report on Friday, May 2nd. Macquarie upped their price target on shares of Spotify Technology from $600.00 to $665.00 and gave the company an "outperform" rating in a report on Friday, April 25th. Finally, FBN Securities assumed coverage on shares of Spotify Technology in a research note on Friday, March 28th. They issued a "sector perform" rating and a $645.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Spotify Technology has an average rating of "Moderate Buy" and a consensus price target of $660.28.

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.