Kentucky Retirement Systems Insurance Trust Fund bought a new position in Spotify Technology (NYSE:SPOT - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The firm bought 4,274 shares of the company's stock, valued at approximately $2,351,000.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. GQG Partners LLC purchased a new position in Spotify Technology during the fourth quarter valued at $800,725,000. Geode Capital Management LLC lifted its position in Spotify Technology by 561.6% during the 4th quarter. Geode Capital Management LLC now owns 1,483,392 shares of the company's stock valued at $659,841,000 after acquiring an additional 1,259,183 shares during the period. Norges Bank purchased a new position in shares of Spotify Technology during the fourth quarter valued at approximately $396,028,000. Janus Henderson Group PLC lifted its holdings in shares of Spotify Technology by 325.9% during the fourth quarter. Janus Henderson Group PLC now owns 1,125,465 shares of the company's stock valued at $503,316,000 after purchasing an additional 861,232 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Spotify Technology by 103.7% during the fourth quarter. Northern Trust Corp now owns 1,426,902 shares of the company's stock valued at $638,367,000 after purchasing an additional 726,245 shares during the last quarter. 84.09% of the stock is currently owned by hedge funds and other institutional investors.
Spotify Technology Stock Down 0.4%
NYSE SPOT opened at $707.64 on Monday. Spotify Technology has a 52 week low of $288.07 and a 52 week high of $728.80. The firm has a market capitalization of $144.86 billion, a P/E ratio of 117.35, a PEG ratio of 1.85 and a beta of 1.68. The company has a 50-day moving average price of $646.29 and a 200-day moving average price of $575.23.
Spotify Technology (NYSE:SPOT - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $1.13 EPS for the quarter, missing analysts' consensus estimates of $2.29 by ($1.16). Spotify Technology had a net margin of 7.19% and a return on equity of 22.53%. The business had revenue of $4.41 billion for the quarter, compared to analysts' expectations of $4.22 billion. During the same period in the prior year, the company posted $0.97 earnings per share. The firm's quarterly revenue was up 15.2% on a year-over-year basis. As a group, equities research analysts anticipate that Spotify Technology will post 10.3 EPS for the current year.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on SPOT. KeyCorp lowered their price objective on Spotify Technology from $675.00 to $625.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Loop Capital lifted their price target on Spotify Technology from $435.00 to $550.00 and gave the stock a "hold" rating in a research report on Friday, May 2nd. Canaccord Genuity Group reaffirmed a "buy" rating on shares of Spotify Technology in a research report on Friday, June 6th. China Renaissance began coverage on Spotify Technology in a research report on Wednesday, March 26th. They issued a "buy" rating and a $740.00 price target for the company. Finally, JPMorgan Chase & Co. lifted their target price on shares of Spotify Technology from $670.00 to $730.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Spotify Technology presently has a consensus rating of "Moderate Buy" and an average target price of $630.28.
View Our Latest Research Report on SPOT
About Spotify Technology
(
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.
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