Spotify Technology (NYSE:SPOT) Stake Raised by GSA Capital Partners LLP

Key Points

• GSA Capital Partners LLP increased its stake in Spotify Technology by 161.2%, now owning 4,239 shares valued at approximately $2.33 million.
• Spotify's stock has a market capitalization of $143.63 billion and a P/E ratio of 116.35, indicating high valuation despite missing earnings expectations.
• Analysts have mixed ratings on Spotify, with a consensus rating of "Moderate Buy" and an average price target of $727.52, reflecting differing opinions on its future performance.

GSA Capital Partners LLP grew its stake in Spotify Technology (NYSE:SPOT - Free Report) by 161.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,239 shares of the company's stock after acquiring an additional 2,616 shares during the quarter. GSA Capital Partners LLP's holdings in Spotify Technology were worth $2,332,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in SPOT. Federated Hermes Inc. boosted its holdings in shares of Spotify Technology by 1.2% during the first quarter. Federated Hermes Inc. now owns 554,124 shares of the company's stock worth $304,785,000 after purchasing an additional 6,455 shares during the last quarter. TCTC Holdings LLC boosted its holdings in shares of Spotify Technology by 24.8% during the first quarter. TCTC Holdings LLC now owns 131 shares of the company's stock worth $72,000 after purchasing an additional 26 shares during the last quarter. Fiera Capital Corp boosted its holdings in shares of Spotify Technology by 30.8% during the first quarter. Fiera Capital Corp now owns 8,366 shares of the company's stock worth $4,602,000 after purchasing an additional 1,969 shares during the last quarter. Foundations Investment Advisors LLC acquired a new stake in shares of Spotify Technology during the first quarter worth $237,000. Finally, Lazard Freres Gestion S.A.S. boosted its holdings in shares of Spotify Technology by 375.0% during the first quarter. Lazard Freres Gestion S.A.S. now owns 35,150 shares of the company's stock worth $19,333,000 after purchasing an additional 27,750 shares during the last quarter. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SPOT has been the subject of several research reports. Loop Capital boosted their price objective on shares of Spotify Technology from $435.00 to $550.00 and gave the company a "hold" rating in a research note on Friday, May 2nd. Wolfe Research raised shares of Spotify Technology from a "peer perform" rating to an "outperform" rating and set a $660.00 price objective for the company in a research note on Monday, April 21st. Morgan Stanley lowered their price objective on shares of Spotify Technology from $850.00 to $800.00 and set an "overweight" rating for the company in a research note on Wednesday. KeyCorp dropped their price objective on shares of Spotify Technology from $860.00 to $830.00 and set an "overweight" rating for the company in a research report on Wednesday. Finally, Macquarie raised 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. Nine analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $718.90.

Spotify Technology Stock Up 0.1%

NYSE SPOT traded up $0.63 on Friday, hitting $627.17. The stock had a trading volume of 2,096,429 shares, compared to its average volume of 2,339,192. Spotify Technology has a one year low of $300.57 and a one year high of $785.00. The stock has a market cap of $128.39 billion, a price-to-earnings ratio of 152.32, a P/E/G ratio of 1.84 and a beta of 1.68. The company's 50-day moving average is $701.27 and its two-hundred day moving average is $622.44.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its 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). The company had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.22 billion. Spotify Technology had a net margin of 4.76% and a return on equity of 13.67%. The firm's quarterly revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.97 EPS. On average, sell-side analysts anticipate that Spotify Technology will post 10.3 earnings per share for the current 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.