Lansforsakringar Fondforvaltning AB publ Makes New Investment in Spotify Technology S.A. (NYSE:SPOT)

Lansforsakringar Fondforvaltning AB publ purchased a new stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,414 shares of the company's stock, valued at approximately $633,000.

Other institutional investors have also modified their holdings of the company. Mpwm Advisory Solutions LLC bought a new stake in shares of Spotify Technology in the 4th quarter valued at about $26,000. Hillsdale Investment Management Inc. acquired a new stake in Spotify Technology in the 4th quarter worth approximately $27,000. Copia Wealth Management acquired a new stake in Spotify Technology in the 4th quarter worth approximately $29,000. Quent Capital LLC boosted its stake in Spotify Technology by 135.7% in the 4th quarter. Quent Capital LLC now owns 99 shares of the company's stock worth $44,000 after purchasing an additional 57 shares in the last quarter. Finally, Noble Wealth Management PBC acquired a new stake in Spotify Technology in the 4th quarter worth approximately $52,000. 84.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on SPOT shares. Citigroup lifted their target price on shares of Spotify Technology from $540.00 to $720.00 and gave the stock a "neutral" rating in a research note on Friday, February 14th. UBS Group lowered their target price on shares of Spotify Technology from $690.00 to $680.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Redburn Atlantic started coverage on shares of Spotify Technology in a research note on Tuesday, March 11th. They issued a "neutral" rating and a $545.00 target price for the company. FBN Securities started coverage on shares of Spotify Technology in a research note on Friday, March 28th. They issued a "sector perform" rating and a $645.00 target price for the company. Finally, Macquarie lifted their target price on shares of Spotify Technology from $600.00 to $665.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. Eight equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $609.07.

Spotify Technology Stock Performance

Spotify Technology stock traded up $30.47 during trading on Friday, reaching $667.14. The company had a trading volume of 3,165,658 shares, compared to its average volume of 2,227,575. The firm's 50-day simple moving average is $599.93 and its 200 day simple moving average is $550.38. Spotify Technology S.A. has a 1-year low of $288.07 and a 1-year high of $671.24. The firm has a market capitalization of $136.57 billion, a PE ratio of 112.12 and a beta of 1.72.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its quarterly earnings results 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 net margin of 7.26% and a return on equity of 25.56%. The company had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.22 billion. During the same period in the prior year, the business posted $0.97 EPS. Spotify Technology's revenue was up 15.2% compared to the same quarter last year. Analysts anticipate that Spotify Technology S.A. will post 10.3 EPS for the current 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.