University of Texas Texas AM Investment Management Co. Buys New Stake in Spotify Technology S.A. (NYSE:SPOT)

University of Texas Texas AM Investment Management Co. acquired a new stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,621 shares of the company's stock, valued at approximately $725,000.

Several other institutional investors have also recently added to or reduced their stakes in SPOT. 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 worth $370,000 after acquiring an additional 20 shares during the last quarter. SRS Capital Advisors Inc. boosted its position in shares of Spotify Technology by 4.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 573 shares of the company's stock worth $256,000 after acquiring an additional 25 shares during the last quarter. Covenant Partners LLC grew its holdings in Spotify Technology by 2.5% in the fourth quarter. Covenant Partners LLC now owns 1,024 shares of the company's stock valued at $458,000 after purchasing an additional 25 shares during the period. First Horizon Advisors Inc. raised 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 worth $225,000 after purchasing an additional 26 shares during the period. Finally, Harbour Investments Inc. boosted its holdings in shares of 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

Shares of SPOT opened at $636.87 on Friday. The business's 50-day moving average is $592.68 and its 200-day moving average is $539.84. The company has a market capitalization of $130.37 billion, a price-to-earnings ratio of 107.04 and a beta of 1.72. Spotify Technology S.A. has a fifty-two week low of $288.07 and a fifty-two week high of $669.00.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $1.13 earnings per share (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 company had revenue of $4.41 billion during the quarter, compared to analysts' expectations of $4.22 billion. During the same quarter in the previous year, the company earned $0.97 EPS. The firm's quarterly revenue was up 15.2% compared to the same quarter last year. Equities research analysts expect that Spotify Technology S.A. will post 10.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SPOT has been the topic of several recent research reports. Cantor Fitzgerald reduced their target price on shares of Spotify Technology from $600.00 to $520.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Citigroup upped their price target on Spotify Technology from $540.00 to $720.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. Redburn Atlantic initiated coverage on shares of Spotify Technology in a research note on Tuesday, March 11th. They set a "neutral" rating and a $545.00 price objective on the stock. Wolfe Research raised shares of Spotify Technology from a "peer perform" rating to an "outperform" rating and set a $660.00 price target for the company in a report on Monday, April 21st. Finally, Phillip Securities upgraded Spotify Technology to a "moderate sell" rating in a research note on Monday, May 5th. Eight analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $609.07.

Spotify Technology Company 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.

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