Free Trial

Callan Family Office LLC Increases Holdings in Spotify Technology (NYSE:SPOT)

Spotify Technology logo with Computer and Technology background

Key Points

  • Callan Family Office LLC increased its stake in Spotify Technology by 78.6% in Q1, owning 2,465 shares worth $1.36 million.
  • Spotify Technology reported a loss of $0.42 EPS for the last quarter, significantly missing the consensus estimate of $2.00, despite exceeding revenue expectations.
  • A number of analysts have raised their price targets for Spotify Technology, with Bank of America targeting $900.00 and Sanford C. Bernstein targeting $840.00 for the stock.
  • Need better tools to track Spotify Technology? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

Callan Family Office LLC increased its holdings in shares of Spotify Technology (NYSE:SPOT - Free Report) by 78.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,465 shares of the company's stock after buying an additional 1,085 shares during the quarter. Callan Family Office LLC's holdings in Spotify Technology were worth $1,356,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Goldman Sachs Group Inc. increased its holdings in Spotify Technology by 1,151.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,740,803 shares of the company's stock worth $957,494,000 after purchasing an additional 1,601,653 shares in the last quarter. Jennison Associates LLC increased its holdings in Spotify Technology by 42.3% in the 1st quarter. Jennison Associates LLC now owns 4,247,940 shares of the company's stock worth $2,336,494,000 after purchasing an additional 1,262,614 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Spotify Technology by 325.9% in the fourth quarter. Janus Henderson Group PLC now owns 1,125,465 shares of the company's stock valued at $503,316,000 after buying an additional 861,232 shares during the period. Northern Trust Corp increased its stake in shares of Spotify Technology by 103.7% in the fourth 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 period. Finally, GAMMA Investing LLC increased its stake in shares of Spotify Technology by 75,856.5% in the first quarter. GAMMA Investing LLC now owns 717,789 shares of the company's stock valued at $394,805,000 after buying an additional 716,844 shares during the period. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Stock Performance

NYSE:SPOT traded up $33.24 during trading on Friday, reaching $731.74. The company's stock had a trading volume of 3,005,192 shares, compared to its average volume of 2,328,602. Spotify Technology has a 12 month low of $319.07 and a 12 month high of $785.00. The firm has a market cap of $149.79 billion, a price-to-earnings ratio of 177.61, a price-to-earnings-growth ratio of 3.01 and a beta of 1.69. The firm has a 50 day moving average of $702.88 and a 200-day moving average of $635.18.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.00 by ($2.42). Spotify Technology had a return on equity of 13.67% and a net margin of 4.76%. The firm had revenue of $4.94 billion during the quarter, compared to analysts' expectations of $4.29 billion. During the same period in the prior year, the business earned $1.33 earnings per share. The business's quarterly revenue was up 10.1% compared to the same quarter last year. Equities research analysts forecast that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Robert W. Baird increased their price target on Spotify Technology from $700.00 to $730.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Wells Fargo & Company increased their price target on Spotify Technology from $740.00 to $750.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. JPMorgan Chase & Co. increased their price target on Spotify Technology from $730.00 to $780.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Oppenheimer raised Spotify Technology from a "market perform" rating to an "outperform" rating and set a $800.00 price target for the company in a research note on Thursday, July 24th. Finally, UBS Group cut their target price on Spotify Technology from $895.00 to $850.00 and set a "buy" rating on the stock in a research report on Wednesday, July 30th. Ten equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, Spotify Technology currently has an average rating of "Moderate Buy" and a consensus price target of $718.90.

Get Our Latest Stock Report on Spotify Technology

Spotify Technology 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 Articles

Institutional Ownership by Quarter for Spotify Technology (NYSE:SPOT)

Should You Invest $1,000 in Spotify Technology Right Now?

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

Ten Starter Stocks For Beginners to Buy Now Cover

Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

3 Stocks With Explosive Upside
September Slowdown: 3 Stocks to Buy When the Pullback Comes
3 Overlooked Stocks Riding the AI Data Center Boom

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines