Sphera Management Technology Funds Ltd Invests $895,000 in Spotify Technology S.A. (NYSE:SPOT)

Sphera Management Technology Funds Ltd acquired a new stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,000 shares of the company's stock, valued at approximately $895,000.

Several other institutional investors have also added to or reduced their stakes in the company. Jennison Associates LLC bought a new stake in shares of Spotify Technology during the fourth quarter worth $1,335,575,000. GQG Partners LLC bought a new position in shares of Spotify Technology during the fourth quarter valued at $800,725,000. Forsta AP Fonden acquired a new position in shares of Spotify Technology during the fourth quarter worth $619,600,000. Geode Capital Management LLC grew its stake in shares of Spotify Technology by 561.6% in the fourth quarter. Geode Capital Management LLC now owns 1,483,392 shares of the company's stock worth $659,841,000 after purchasing an additional 1,259,183 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Spotify Technology in the fourth quarter worth $396,028,000. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SPOT has been the topic of several recent research reports. Loop Capital lifted their target price on Spotify Technology from $435.00 to $550.00 and gave the stock a "hold" rating in a report on Friday, May 2nd. JPMorgan Chase & Co. lifted 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. Cantor Fitzgerald reduced their target price on Spotify Technology from $600.00 to $520.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. KeyCorp dropped their price target on shares of Spotify Technology from $675.00 to $625.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Finally, Citigroup increased their price objective on shares of Spotify Technology from $540.00 to $720.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. Eight investment 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 company has a consensus rating of "Moderate Buy" and an average target price of $606.48.

Spotify Technology Price Performance

Shares of NYSE SPOT opened at $656.02 on Monday. The business's fifty day moving average price is $585.62 and its 200-day moving average price is $534.52. Spotify Technology S.A. has a one year low of $288.07 and a one year high of $663.55. The stock has a market capitalization of $134.29 billion, a PE ratio of 110.26 and a beta of 1.72.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its quarterly 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). 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 the consensus estimate of $4.22 billion. During the same period last year, the firm earned $0.97 EPS. The business's revenue for the quarter was up 15.2% on a year-over-year basis. As a group, equities analysts expect that Spotify Technology S.A. will post 10.3 EPS for the current fiscal year.

Spotify Technology 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.

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