Hudson Way Capital Management LLC Buys 727 Shares of Spotify Technology S.A. (NYSE:SPOT)

Hudson Way Capital Management LLC increased its position in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 1.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 64,795 shares of the company's stock after purchasing an additional 727 shares during the quarter. Spotify Technology makes up about 3.3% of Hudson Way Capital Management LLC's holdings, making the stock its 14th biggest position. Hudson Way Capital Management LLC's holdings in Spotify Technology were worth $28,988,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Hillsdale Investment Management Inc. bought a new stake in Spotify Technology in the 4th quarter valued at about $27,000. Quent Capital LLC lifted its position in Spotify Technology by 135.7% in the 4th quarter. Quent Capital LLC now owns 99 shares of the company's stock worth $44,000 after buying an additional 57 shares during the last quarter. Noble Wealth Management PBC purchased a new stake in shares of Spotify Technology in the 4th quarter valued at $52,000. Colonial Trust Co SC lifted its stake in shares of Spotify Technology by 1,009.1% in the 4th quarter. Colonial Trust Co SC now owns 122 shares of the company's stock valued at $55,000 after acquiring an additional 111 shares during the last quarter. Finally, Strategic Financial Concepts LLC purchased a new position in shares of Spotify Technology in the fourth quarter worth $56,000. 84.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SPOT has been the subject of several research analyst reports. Robert W. Baird raised their price objective on shares of Spotify Technology from $700.00 to $730.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Benchmark lifted their price target on shares of Spotify Technology from $600.00 to $720.00 and gave the stock a "buy" rating in a research note on Wednesday, February 5th. Guggenheim upped their target price on shares of Spotify Technology from $675.00 to $725.00 and gave the stock a "buy" rating in a report on Monday. Loop Capital raised their price objective on Spotify Technology from $435.00 to $550.00 and gave the company a "hold" rating in a research report on Friday, May 2nd. Finally, Phillip Securities upgraded Spotify Technology to a "moderate sell" rating in a research report on Monday, May 5th. Eight analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $606.48.

Spotify Technology Stock Performance

Shares of NYSE:SPOT traded up $17.09 during midday trading on Friday, reaching $657.27. The company had a trading volume of 1,184,712 shares, compared to its average volume of 2,184,414. Spotify Technology S.A. has a 1-year low of $288.07 and a 1-year high of $663.55. The company has a fifty day simple moving average of $582.66 and a two-hundred day simple moving average of $530.69. The firm has a market cap of $134.55 billion, a price-to-earnings ratio of 110.60 and a beta of 1.72.

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

About Spotify Technology

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.