TB Alternative Assets Ltd. Takes Position in Spotify Technology S.A. (NYSE:SPOT)

TB Alternative Assets Ltd. bought a new stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 800 shares of the company's stock, valued at approximately $440,000.

Other institutional investors have also modified their holdings of the company. Mpwm Advisory Solutions LLC acquired a new position in shares of Spotify Technology in the fourth quarter valued at approximately $26,000. Hillsdale Investment Management Inc. purchased a new stake in shares of Spotify Technology in the fourth quarter valued at approximately $27,000. Copia Wealth Management purchased a new stake in shares of Spotify Technology in the fourth quarter valued at approximately $29,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Spotify Technology by 209.1% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 68 shares of the company's stock valued at $37,000 after buying an additional 46 shares in the last quarter. Finally, Quent Capital LLC boosted its stake in shares of Spotify Technology by 135.7% in the fourth quarter. Quent Capital LLC now owns 99 shares of the company's stock valued at $44,000 after buying an additional 57 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company's stock.

Analyst Ratings Changes

SPOT has been the topic of a number of analyst reports. Phillip Securities upgraded Spotify Technology to a "moderate sell" rating in a research note on Monday, May 5th. China Renaissance initiated coverage on Spotify Technology in a research note on Wednesday, March 26th. They issued a "buy" rating and a $740.00 price target on the stock. Citigroup lifted their price target on Spotify Technology from $540.00 to $720.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. Rosenblatt Securities decreased their price target on Spotify Technology from $658.00 to $657.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Finally, Wolfe Research upgraded Spotify Technology from a "peer perform" rating to an "outperform" rating and set a $660.00 price target on the stock in a research note on Monday, April 21st. Eight research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $611.14.

Spotify Technology Stock Down 0.1%

Shares of NYSE:SPOT opened at $712.24 on Friday. Spotify Technology S.A. has a 52-week low of $288.07 and a 52-week high of $717.87. The stock's fifty day simple moving average is $612.90 and its 200-day simple moving average is $558.90. The company has a market capitalization of $145.80 billion, a P/E ratio of 119.70 and a beta of 1.68.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued its quarterly earnings data 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). The company had revenue of $4.41 billion during the quarter, compared to analysts' expectations of $4.22 billion. Spotify Technology had a net margin of 7.26% and a return on equity of 25.56%. The firm's revenue was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.97 earnings per share. On average, sell-side analysts anticipate that Spotify Technology S.A. will post 10.3 earnings per share for the current year.

About Spotify Technology

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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