Gunderson Capital Management Inc. Sells 17,595 Shares of Spotify Technology S.A. (NYSE:SPOT)

Gunderson Capital Management Inc. lessened its stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 69.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,563 shares of the company's stock after selling 17,595 shares during the period. Spotify Technology accounts for 2.7% of Gunderson Capital Management Inc.'s portfolio, making the stock its 15th largest holding. Gunderson Capital Management Inc.'s holdings in Spotify Technology were worth $4,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Jennison Associates LLC acquired a new stake in shares of Spotify Technology in the 4th quarter valued at about $1,335,575,000. FMR LLC grew its holdings in shares of Spotify Technology by 30.2% during the fourth quarter. FMR LLC now owns 2,041,387 shares of the company's stock worth $913,276,000 after buying an additional 473,569 shares in the last quarter. Schroder Investment Management Group raised its holdings in shares of Spotify Technology by 0.4% in the fourth quarter. Schroder Investment Management Group now owns 1,912,937 shares of the company's stock valued at $855,810,000 after purchasing an additional 7,075 shares during the last quarter. GQG Partners LLC bought a new position in Spotify Technology in the fourth quarter valued at $800,725,000. Finally, Geode Capital Management LLC increased its stake in Spotify Technology by 561.6% in the 4th quarter. Geode Capital Management LLC now owns 1,483,392 shares of the company's stock valued at $659,841,000 after buying an additional 1,259,183 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SPOT has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on Spotify Technology from $640.00 to $670.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Phillip Securities upgraded Spotify Technology to a "moderate sell" rating in a research report on Monday, May 5th. Macquarie boosted their price target on Spotify Technology from $600.00 to $665.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Citigroup raised their target price on shares of Spotify Technology from $540.00 to $720.00 and gave the company a "neutral" rating in a report on Friday, February 14th. Finally, Guggenheim raised their target price on Spotify Technology from $675.00 to $725.00 and gave the company a "buy" rating in a report on Monday, May 12th. Eight analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Spotify Technology has an average rating of "Moderate Buy" and an average price target of $609.07.

Spotify Technology Price Performance

Shares of NYSE:SPOT traded down $1.11 during midday trading on Tuesday, hitting $670.89. 1,496,515 shares of the company's stock were exchanged, compared to its average volume of 2,223,206. Spotify Technology S.A. has a 12 month low of $288.07 and a 12 month high of $677.94. The stock has a 50 day moving average price of $601.82 and a 200-day moving average price of $552.95. The company has a market cap of $137.34 billion, a PE ratio of 112.76 and a beta of 1.72.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its 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 the consensus estimate of $4.22 billion. Spotify Technology had a return on equity of 25.56% and a net margin of 7.26%. The business's revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.97 EPS. On average, analysts anticipate that Spotify Technology S.A. will post 10.3 EPS for the current fiscal year.

Spotify Technology Company Profile

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.