Jasper Ridge Partners L.P. Buys 399 Shares of Spotify Technology S.A. (NYSE:SPOT)

Jasper Ridge Partners L.P. raised its stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 4.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,150 shares of the company's stock after acquiring an additional 399 shares during the quarter. Jasper Ridge Partners L.P.'s holdings in Spotify Technology were worth $4,541,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SPOT. Thrivent Financial for Lutherans grew its holdings in Spotify Technology by 566.1% during the 4th quarter. Thrivent Financial for Lutherans now owns 7,980 shares of the company's stock worth $3,541,000 after acquiring an additional 6,782 shares during the last quarter. Jennison Associates LLC bought a new stake in shares of Spotify Technology in the 4th quarter valued at $1,335,575,000. Marks Group Wealth Management Inc acquired a new position in Spotify Technology in the fourth quarter valued at $535,000. Patriot Financial Group Insurance Agency LLC bought a new stake in Spotify Technology during the fourth quarter valued at $214,000. Finally, Swedbank AB lifted its stake in shares of Spotify Technology by 20.9% in the 4th quarter. Swedbank AB now owns 946,129 shares of the company's stock valued at $423,279,000 after purchasing an additional 163,626 shares during the period. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SPOT has been the subject of several recent analyst reports. Barclays decreased their target price on Spotify Technology from $710.00 to $650.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. The Goldman Sachs Group lifted their price target on shares of Spotify Technology from $550.00 to $695.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Wells Fargo & Company upped their price target on Spotify Technology from $690.00 to $740.00 and gave the stock an "overweight" rating in a research note on Friday, March 28th. Benchmark raised their price objective on Spotify Technology from $600.00 to $720.00 and gave the company a "buy" rating in a research note on Wednesday, February 5th. Finally, Rosenblatt Securities cut their target price on Spotify Technology from $658.00 to $657.00 and set a "neutral" rating on the stock in a report on Wednesday, April 30th. Eight analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $606.48.

Spotify Technology Price Performance

Shares of NYSE SPOT traded up $17.49 during trading on Wednesday, reaching $637.56. 491,343 shares of the stock traded hands, compared to its average volume of 2,178,837. The stock has a market capitalization of $130.51 billion, a P/E ratio of 107.10 and a beta of 1.72. Spotify Technology S.A. has a 52-week low of $286.21 and a 52-week high of $663.55. The company has a 50-day moving average of $577.70 and a 200-day moving average of $528.25.

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