Van Lanschot Kempen Investment Management N.V. Grows Stake in Spotify Technology $SPOT

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Van Lanschot Kempen Investment Management N.V. boosted its position in Spotify Technology (NYSE:SPOT - Free Report) by 9.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 306,710 shares of the company's stock after purchasing an additional 26,917 shares during the period. Spotify Technology comprises 1.8% of Van Lanschot Kempen Investment Management N.V.'s investment portfolio, making the stock its 14th biggest position. Van Lanschot Kempen Investment Management N.V. owned approximately 0.15% of Spotify Technology worth $168,700,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Cornerstone Planning Group LLC increased its position in Spotify Technology by 512.5% during the first quarter. Cornerstone Planning Group LLC now owns 49 shares of the company's stock worth $29,000 after buying an additional 41 shares in the last quarter. Tsfg LLC purchased a new position in Spotify Technology during the first quarter worth $28,000. North Star Investment Management Corp. increased its position in Spotify Technology by 52.8% during the first quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock worth $30,000 after buying an additional 19 shares in the last quarter. Mpwm Advisory Solutions LLC purchased a new position in Spotify Technology during the fourth quarter worth $26,000. Finally, Copia Wealth Management purchased a new position in Spotify Technology during the fourth quarter worth $29,000. 84.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Loop Capital raised their price target on Spotify Technology from $435.00 to $550.00 and gave the stock a "hold" rating in a research report on Friday, May 2nd. Cantor Fitzgerald raised their price objective on Spotify Technology from $610.00 to $640.00 and gave the stock a "neutral" rating in a report on Wednesday, June 18th. Phillip Securities upgraded Spotify Technology from a "moderate sell" rating to a "hold" rating in a report on Monday, August 4th. Barclays decreased their price objective on Spotify Technology from $800.00 to $750.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. Finally, DZ Bank upgraded Spotify Technology from a "sell" rating to a "hold" rating and set a $652.00 price objective on the stock in a report on Wednesday, July 30th. Ten investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $720.07.

Spotify Technology Price Performance

Shares of SPOT opened at $728.06 on Tuesday. The stock's 50-day moving average is $703.85 and its two-hundred day moving average is $639.09. The stock has a market cap of $149.04 billion, a PE ratio of 176.71, a P/E/G ratio of 3.17 and a beta of 1.69. Spotify Technology has a 12 month low of $319.07 and a 12 month high of $785.00.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported ($0.42) EPS for the quarter, missing analysts' consensus estimates of $2.00 by ($2.42). The company had revenue of $4.94 billion for the quarter, compared to analyst estimates of $4.29 billion. Spotify Technology had a return on equity of 13.67% and a net margin of 4.76%. The company's revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.33 EPS. On average, research analysts anticipate that Spotify Technology will post 10.3 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.