Quantinno Capital Management LP raised its holdings in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 20.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,439 shares of the company's stock after purchasing an additional 1,939 shares during the quarter. Quantinno Capital Management LP's holdings in Spotify Technology were worth $5,118,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also bought and sold shares of SPOT. Morgens Waterfall Vintiadis & Co. Inc. lifted its holdings in Spotify Technology by 12.5% in the fourth quarter. Morgens Waterfall Vintiadis & Co. Inc. now owns 13,500 shares of the company's stock worth $6,040,000 after buying an additional 1,500 shares during the period. Pathstone Holdings LLC boosted its stake in Spotify Technology by 8.1% during the fourth quarter. Pathstone Holdings LLC now owns 26,228 shares of the company's stock valued at $11,734,000 after buying an additional 1,970 shares during the last quarter. Nia Impact Advisors LLC bought a new position in shares of Spotify Technology during the 4th quarter valued at approximately $2,197,000. Nicholas Investment Partners LP increased its stake in Spotify Technology by 703.2% in the fourth quarter. Nicholas Investment Partners LP now owns 8,699 shares of the company's stock worth $3,892,000 after purchasing an additional 7,616 shares during the period. Finally, Nuveen Asset Management LLC grew its holdings in Spotify Technology by 98.0% during the 4th quarter. Nuveen Asset Management LLC now owns 645,705 shares of the company's stock worth $288,876,000 after acquiring an additional 319,564 shares in the last quarter. Institutional investors own 84.09% of the company's stock.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on SPOT. JPMorgan Chase & Co. boosted their price objective on shares of Spotify Technology from $640.00 to $670.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. The Goldman Sachs Group raised their target price on Spotify Technology from $550.00 to $695.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Guggenheim boosted their target price on Spotify Technology from $675.00 to $725.00 and gave the stock a "buy" rating in a report on Monday, May 12th. UBS Group dropped their price objective on shares of Spotify Technology from $690.00 to $680.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Finally, Rosenblatt Securities reduced their target price on Spotify Technology from $658.00 to $657.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 30th. Eight research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. Based on data from MarketBeat.com, Spotify Technology has an average rating of "Moderate Buy" and a consensus price target of $609.07.
Check Out Our Latest Analysis on SPOT
Spotify Technology Stock Performance
Shares of NYSE SPOT traded down $6.10 during trading hours on Tuesday, reaching $658.52. 1,389,300 shares of the stock were exchanged, compared to its average volume of 2,195,813. The firm has a market capitalization of $134.80 billion, a price-to-earnings ratio of 110.68 and a beta of 1.72. The stock's fifty day simple moving average is $590.56 and its 200 day simple moving average is $537.33. Spotify Technology S.A. has a 52 week low of $288.07 and a 52 week high of $669.00.
Spotify Technology (NYSE:SPOT - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $1.13 earnings per share 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 business 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. The company's revenue for the quarter was up 15.2% compared to the same quarter last year. Research analysts predict that Spotify Technology S.A. will post 10.3 EPS for the current fiscal year.
Spotify Technology 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.
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