Tidal Investments LLC increased its holdings in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 14.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,603 shares of the company's stock after purchasing an additional 595 shares during the quarter. Tidal Investments LLC's holdings in Spotify Technology were worth $2,059,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the business. Jennison Associates LLC acquired a new position in Spotify Technology during the fourth quarter worth $1,335,575,000. FMR LLC boosted its holdings in Spotify Technology by 30.2% during the fourth quarter. FMR LLC now owns 2,041,387 shares of the company's stock worth $913,276,000 after purchasing an additional 473,569 shares during the last quarter. Schroder Investment Management Group boosted its holdings in Spotify Technology by 0.4% during the fourth quarter. Schroder Investment Management Group now owns 1,912,937 shares of the company's stock worth $855,810,000 after purchasing an additional 7,075 shares during the last quarter. GQG Partners LLC acquired a new position in Spotify Technology during the fourth quarter worth $800,725,000. Finally, Geode Capital Management LLC boosted its holdings in Spotify Technology by 561.6% during 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. Institutional investors and hedge funds own 84.09% of the company's stock.
Spotify Technology Price Performance
Spotify Technology stock traded up $7.82 during midday trading on Wednesday, hitting $661.22. The company's stock had a trading volume of 477,779 shares, compared to its average volume of 2,203,704. Spotify Technology S.A. has a 1-year low of $288.07 and a 1-year high of $671.24. The company has a 50-day moving average price of $596.99 and a two-hundred day moving average price of $546.30. The company has a market cap of $135.36 billion, a price-to-earnings ratio of 111.08 and a beta of 1.72.
Spotify Technology (NYSE:SPOT - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $1.13 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 firm had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.22 billion. During the same period in the prior year, the business earned $0.97 earnings per share. Spotify Technology's quarterly revenue was up 15.2% compared to the same quarter last year. Sell-side analysts forecast that Spotify Technology S.A. will post 10.3 EPS for the current year.
Analyst Ratings Changes
A number of brokerages have commented on SPOT. Evercore ISI cut their price target on shares of Spotify Technology from $700.00 to $650.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. FBN Securities began coverage on shares of Spotify Technology in a research note on Friday, March 28th. They issued a "sector perform" rating and a $645.00 price target for the company. Macquarie increased their price target on shares of Spotify Technology from $600.00 to $665.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Redburn Atlantic began coverage on shares of Spotify Technology in a research note on Tuesday, March 11th. They issued a "neutral" rating and a $545.00 price target for the company. Finally, Morgan Stanley increased their price target on shares of Spotify Technology from $550.00 to $670.00 and gave the company an "overweight" rating in a research note on Wednesday, February 5th. Eight analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $609.07.
Read Our Latest Research Report on Spotify Technology
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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