Gotham Asset Management LLC Boosts Stock Position in Spotify Technology S.A. (NYSE:SPOT)

Gotham Asset Management LLC boosted its position in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 15.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,708 shares of the company's stock after buying an additional 3,715 shares during the period. Gotham Asset Management LLC's holdings in Spotify Technology were worth $12,396,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SPOT. Principal Financial Group Inc. increased its position in Spotify Technology by 11.8% in the 3rd quarter. Principal Financial Group Inc. now owns 39,578 shares of the company's stock valued at $14,586,000 after buying an additional 4,192 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in Spotify Technology by 2.4% in the 4th quarter. Harbor Capital Advisors Inc. now owns 1,398 shares of the company's stock valued at $625,000 after buying an additional 33 shares in the last quarter. Aprio Wealth Management LLC bought a new stake in Spotify Technology in the 4th quarter valued at about $338,000. Matrix Trust Co bought a new stake in Spotify Technology in the 4th quarter valued at about $150,000. Finally, City Center Advisors LLC bought a new stake in Spotify Technology in the 4th quarter valued at about $374,000. 84.09% of the stock is owned by institutional investors.

Spotify Technology Stock Up 2.5%

Spotify Technology stock traded up $15.84 during trading on Friday, hitting $656.02. The stock had a trading volume of 2,222,366 shares, compared to its average volume of 2,197,081. Spotify Technology S.A. has a 1 year low of $288.07 and a 1 year high of $663.55. The stock's 50 day moving average is $585.62 and its two-hundred day moving average is $533.48. The stock has a market cap of $134.29 billion, a price-to-earnings ratio of 110.26 and a beta of 1.72.

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 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 analysts' expectations of $4.22 billion. During the same quarter in the previous year, the company posted $0.97 EPS. Spotify Technology's revenue for the quarter was up 15.2% on a year-over-year basis. As a group, equities research analysts anticipate that Spotify Technology S.A. will post 10.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SPOT. UBS Group decreased their price objective on Spotify Technology from $690.00 to $680.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Guggenheim boosted their price objective on Spotify Technology from $675.00 to $725.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Robert W. Baird boosted their price objective on Spotify Technology from $700.00 to $730.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. The Goldman Sachs Group boosted their price objective on Spotify Technology from $550.00 to $695.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Finally, China Renaissance began coverage on Spotify Technology in a report on Wednesday, March 26th. They set a "buy" rating and a $740.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $606.48.

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.