Chicago Capital LLC raised its position in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 28.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,389 shares of the company's stock after purchasing an additional 1,399 shares during the period. Chicago Capital LLC's holdings in Spotify Technology were worth $3,514,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of SPOT. Adero Partners LLC raised its stake in Spotify Technology by 0.7% during the 1st quarter. Adero Partners LLC now owns 2,635 shares of the company's stock worth $1,449,000 after buying an additional 19 shares during the period. North Star Investment Management Corp. lifted its holdings in shares of Spotify Technology by 52.8% during the 1st quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock valued at $30,000 after purchasing an additional 19 shares in the last quarter. Auxano Advisors LLC grew its position in shares of Spotify Technology by 2.5% in the 4th quarter. Auxano Advisors LLC now owns 828 shares of the company's stock valued at $370,000 after purchasing an additional 20 shares during the period. SRS Capital Advisors Inc. increased its stake in Spotify Technology by 4.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 573 shares of the company's stock worth $256,000 after purchasing an additional 25 shares in the last quarter. Finally, Covenant Partners LLC raised its holdings in Spotify Technology by 2.5% during the 4th quarter. Covenant Partners LLC now owns 1,024 shares of the company's stock worth $458,000 after buying an additional 25 shares during the period. 84.09% of the stock is currently owned by institutional investors and hedge funds.
Spotify Technology Stock Up 0.7%
Shares of Spotify Technology stock opened at $715.64 on Tuesday. Spotify Technology S.A. has a twelve month low of $288.07 and a twelve month high of $723.70. The company has a 50-day simple moving average of $634.00 and a two-hundred day simple moving average of $569.07. The stock has a market capitalization of $146.50 billion, a price-to-earnings ratio of 120.28 and a beta of 1.68.
Spotify Technology (NYSE:SPOT - Get Free Report) last announced its quarterly earnings data 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 return on equity of 25.56% and a net margin of 7.26%. The firm had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.22 billion. During the same quarter in the previous year, the company earned $0.97 earnings per share. The company's quarterly revenue was up 15.2% on a year-over-year basis. On average, sell-side analysts anticipate that Spotify Technology S.A. will post 10.3 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several research analysts have recently weighed in on SPOT shares. KeyCorp reduced their price objective on Spotify Technology from $675.00 to $625.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Rosenblatt Securities decreased their price target on shares of Spotify Technology from $658.00 to $657.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. Wolfe Research raised shares of Spotify Technology from a "peer perform" rating to an "outperform" rating and set a $660.00 price objective on the stock in a research report on Monday, April 21st. Robert W. Baird increased their target price on shares of Spotify Technology from $700.00 to $730.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Finally, Wells Fargo & Company lifted their price target on shares of Spotify Technology from $690.00 to $740.00 and gave the company an "overweight" rating in a research note on Friday, March 28th. Eight research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $614.59.
Read Our Latest Research Report on Spotify Technology
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.
See Also
Want to see what other hedge funds are holding SPOT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Spotify Technology S.A. (NYSE:SPOT - Free Report).
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