Spotify Technology $SPOT Shares Bought by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership lifted its holdings in Spotify Technology (NYSE:SPOT - Free Report) by 3.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 974,087 shares of the company's stock after acquiring an additional 33,630 shares during the period. Spotify Technology makes up 0.8% of Artisan Partners Limited Partnership's portfolio, making the stock its 28th biggest position. Artisan Partners Limited Partnership owned about 0.47% of Spotify Technology worth $565,662,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in SPOT. Principal Financial Group Inc. grew its holdings in Spotify Technology by 12.9% during the 4th quarter. Principal Financial Group Inc. now owns 645,196 shares of the company's stock valued at $374,672,000 after purchasing an additional 73,722 shares in the last quarter. Vanguard Group Inc. grew its holdings in Spotify Technology by 2.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,005,882 shares of the company's stock valued at $702,106,000 after purchasing an additional 24,199 shares in the last quarter. City Holding Co. grew its holdings in Spotify Technology by 2,515.9% during the 4th quarter. City Holding Co. now owns 5,598 shares of the company's stock valued at $3,251,000 after purchasing an additional 5,384 shares in the last quarter. ARK Investment Management LLC grew its holdings in Spotify Technology by 8.2% during the 3rd quarter. ARK Investment Management LLC now owns 80,285 shares of the company's stock valued at $56,039,000 after purchasing an additional 6,100 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in Spotify Technology by 4.6% during the 3rd quarter. Fisher Asset Management LLC now owns 2,602,625 shares of the company's stock valued at $1,816,632,000 after purchasing an additional 113,612 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company's stock.

Insider Buying and Selling

In other Spotify Technology news, Director Christopher P. Marshall sold 2,650 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $519.86, for a total value of $1,377,629.00. Following the sale, the director owned 4,039 shares in the company, valued at approximately $2,099,714.54. This trade represents a 39.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Alex Norstrom sold 5,436 shares of the firm's stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $479.51, for a total transaction of $2,606,616.36. Following the completion of the sale, the chief executive officer owned 69,989 shares in the company, valued at $33,560,425.39. The trade was a 7.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 111,442 shares of company stock valued at $54,647,508 in the last ninety days. Insiders own 0.40% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Arete Research raised shares of Spotify Technology from a "neutral" rating to a "buy" rating and set a $586.00 price target for the company in a report on Thursday, February 26th. Canaccord Genuity Group lowered their price target on shares of Spotify Technology from $750.00 to $720.00 and set a "buy" rating for the company in a report on Wednesday, April 29th. Rosenblatt Securities raised their price target on shares of Spotify Technology from $500.00 to $534.00 and gave the company a "neutral" rating in a report on Friday, May 22nd. Daiwa Securities Group began coverage on shares of Spotify Technology in a research note on Thursday, March 26th. They set an "outperform" rating and a $535.00 price objective on the stock. Finally, Cantor Fitzgerald increased their price objective on shares of Spotify Technology from $430.00 to $520.00 and gave the company a "neutral" rating in a research note on Tuesday, May 26th. Two research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $652.16.

Spotify Technology Stock Performance

Spotify Technology stock opened at $470.81 on Wednesday. The firm's 50-day moving average is $482.23 and its 200-day moving average is $508.74. Spotify Technology has a 1 year low of $405.00 and a 1 year high of $785.00. The company has a market cap of $96.93 billion, a P/E ratio of 37.51, a PEG ratio of 1.17 and a beta of 1.56.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $4.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.41 by $0.63. Spotify Technology had a net margin of 15.56% and a return on equity of 35.73%. The company had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.23 billion. During the same period last year, the firm posted $1.07 EPS. The company's revenue for the quarter was up 8.2% on a year-over-year basis. As a group, sell-side analysts predict that Spotify Technology will post 14.71 earnings per share for the current year.

Spotify Technology Profile

Spotify Technology is a digital audio streaming company best known for its on-demand music service and a growing portfolio of spoken-word content. Founded in Sweden in 2006 by Daniel Ek and Martin Lorentzon and launched commercially in 2008, the company offers a cross-platform app that enables users to discover, stream and organize music, podcasts and other audio. Its primary consumer products include a free, ad-supported tier and a paid Spotify Premium subscription that provides ad-free listening, offline playback and higher-quality audio streams.

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