C WorldWide Group Holding A S Has $3.72 Million Stock Holdings in Spotify Technology (NYSE:SPOT)

C WorldWide Group Holding A S lifted its position in shares of Spotify Technology (NYSE:SPOT - Free Report) by 16.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,760 shares of the company's stock after buying an additional 960 shares during the quarter. C WorldWide Group Holding A S's holdings in Spotify Technology were worth $3,718,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. GQG Partners LLC purchased a new stake in Spotify Technology in the fourth quarter valued at approximately $800,725,000. Jennison Associates LLC grew its holdings in Spotify Technology by 42.3% in the first quarter. Jennison Associates LLC now owns 4,247,940 shares of the company's stock valued at $2,336,494,000 after purchasing an additional 1,262,614 shares during the period. Geode Capital Management LLC grew its holdings in Spotify Technology by 561.6% in the fourth quarter. Geode Capital Management LLC now owns 1,483,392 shares of the company's stock valued at $659,841,000 after purchasing an additional 1,259,183 shares during the period. Norges Bank purchased a new stake in Spotify Technology in the fourth quarter valued at approximately $396,028,000. Finally, Janus Henderson Group PLC grew its holdings in Spotify Technology by 325.9% in 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 period. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Spotify Technology Trading Down 3.6%

SPOT traded down $26.01 on Friday, reaching $694.90. The company had a trading volume of 2,148,692 shares, compared to its average volume of 2,220,527. The company has a fifty day moving average of $696.06 and a 200-day moving average of $609.71. The company has a market capitalization of $142.25 billion, a P/E ratio of 115.24, a PEG ratio of 1.92 and a beta of 1.68. Spotify Technology has a one year low of $290.13 and a one year high of $785.00.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued its quarterly 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 7.19% and a return on equity of 22.53%. 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 previous year, the company posted $0.97 earnings per share. Spotify Technology's revenue was up 15.2% compared to the same quarter last year. Research analysts predict that Spotify Technology will post 10.3 EPS for the current year.

Analysts Set New Price Targets

SPOT has been the topic of a number of recent research reports. KeyCorp lifted their price target on shares of Spotify Technology from $640.00 to $860.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Barclays boosted their target price on shares of Spotify Technology from $650.00 to $800.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. Macquarie boosted their target price on shares of Spotify Technology from $600.00 to $665.00 and gave the stock an "outperform" rating in a research report on Friday, April 25th. Wolfe Research raised shares of Spotify Technology from a "peer perform" rating to an "outperform" rating and set a $660.00 target price on the stock in a research report on Monday, April 21st. Finally, Wells Fargo & Company boosted their target price on shares of Spotify Technology from $690.00 to $740.00 and gave the stock an "overweight" rating in a research report on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, Spotify Technology currently has an average rating of "Moderate Buy" and a consensus target price of $701.31.

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.