Universal Beteiligungs und Servicegesellschaft mbH Makes New $55.35 Million Investment in Spotify Technology S.A. (NYSE:SPOT)

Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Spotify Technology S.A. (NYSE:SPOT - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 123,711 shares of the company's stock, valued at approximately $55,346,000. Universal Beteiligungs und Servicegesellschaft mbH owned 0.06% of Spotify Technology as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Auxano Advisors LLC boosted its position in Spotify Technology by 2.5% during the fourth quarter. Auxano Advisors LLC now owns 828 shares of the company's stock valued at $370,000 after purchasing an additional 20 shares during the last quarter. SRS Capital Advisors Inc. increased its stake in Spotify Technology by 4.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 573 shares of the company's stock valued at $256,000 after acquiring an additional 25 shares during the period. Covenant Partners LLC increased its stake in Spotify Technology by 2.5% during the fourth quarter. Covenant Partners LLC now owns 1,024 shares of the company's stock valued at $458,000 after acquiring an additional 25 shares during the period. First Horizon Advisors Inc. increased its stake in Spotify Technology by 5.4% during the fourth quarter. First Horizon Advisors Inc. now owns 504 shares of the company's stock valued at $225,000 after acquiring an additional 26 shares during the period. Finally, Harbour Investments Inc. raised its position in Spotify Technology by 13.3% in the 4th quarter. Harbour Investments Inc. now owns 222 shares of the company's stock valued at $99,000 after purchasing an additional 26 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company's stock.

Spotify Technology Price Performance

SPOT stock traded up $30.47 during trading hours on Friday, reaching $667.14. 3,165,658 shares of the stock were exchanged, compared to its average volume of 2,227,575. The firm's 50-day moving average is $599.93 and its 200-day moving average is $551.47. The company has a market cap of $136.57 billion, a price-to-earnings ratio of 112.12 and a beta of 1.72. Spotify Technology S.A. has a 12 month low of $288.07 and a 12 month high of $671.24.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $1.13 EPS for the quarter, missing analysts' consensus estimates of $2.29 by ($1.16). Spotify Technology had a return on equity of 25.56% and a net margin of 7.26%. The business had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.22 billion. During the same quarter in the prior year, the company earned $0.97 earnings per share. The company's quarterly revenue was up 15.2% on a year-over-year basis. As a group, equities research analysts forecast that Spotify Technology S.A. will post 10.3 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Citigroup lifted their price objective on Spotify Technology from $540.00 to $720.00 and gave the company a "neutral" rating in a research report on Friday, February 14th. Phillip Securities upgraded Spotify Technology to a "moderate sell" rating in a research report on Monday, May 5th. Benchmark lifted their price objective on Spotify Technology from $600.00 to $720.00 and gave the company a "buy" rating in a research report on Wednesday, February 5th. China Renaissance began coverage on Spotify Technology in a research report on Wednesday, March 26th. They issued a "buy" rating and a $740.00 price objective for the company. Finally, Cantor Fitzgerald reduced their price objective on Spotify Technology from $600.00 to $520.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Eight analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $609.07.

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.