Lighthouse Investment Partners LLC Has $16.68 Million Stock Holdings in Spotify Technology S.A. (NYSE:SPOT)

Lighthouse Investment Partners LLC boosted its holdings in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 45.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 37,279 shares of the company's stock after acquiring an additional 11,649 shares during the period. Lighthouse Investment Partners LLC's holdings in Spotify Technology were worth $16,678,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Jennison Associates LLC bought a new position in shares of Spotify Technology during the fourth quarter worth $1,335,575,000. GQG Partners LLC bought a new position in shares of Spotify Technology during the fourth quarter worth $800,725,000. Forsta AP Fonden bought a new position in shares of Spotify Technology during the fourth quarter worth $619,600,000. Geode Capital Management LLC boosted its position in shares of Spotify Technology by 561.6% during the fourth quarter. Geode Capital Management LLC now owns 1,483,392 shares of the company's stock worth $659,841,000 after purchasing an additional 1,259,183 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Spotify Technology during the fourth quarter worth $396,028,000. Institutional investors and hedge funds own 84.09% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on SPOT shares. Morgan Stanley lifted their price target on shares of Spotify Technology from $550.00 to $670.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 5th. Robert W. Baird boosted their price objective on shares of Spotify Technology from $700.00 to $730.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Macquarie boosted their price objective on shares of Spotify Technology from $600.00 to $665.00 and gave the company an "outperform" rating in a research report on Friday, April 25th. FBN Securities initiated coverage on shares of Spotify Technology in a research report on Friday, March 28th. They issued a "sector perform" rating and a $645.00 price objective on the stock. Finally, Rosenblatt Securities cut their price objective on shares of Spotify Technology from $658.00 to $657.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 30th. Eight equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $606.48.

Spotify Technology Trading Up 1.0%

Shares of Spotify Technology stock traded up $6.20 during trading on Wednesday, hitting $626.27. 2,292,195 shares of the stock were exchanged, compared to its average volume of 2,190,507. The stock has a market capitalization of $128.20 billion, a price-to-earnings ratio of 105.26 and a beta of 1.72. The company has a fifty day moving average price of $579.61 and a 200-day moving average price of $528.93. Spotify Technology S.A. has a 1-year low of $288.07 and a 1-year high of $663.55.

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 firm had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.22 billion. Spotify Technology had a return on equity of 25.56% and a net margin of 7.26%. The firm's revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.97 earnings per share. Equities research analysts forecast that Spotify Technology S.A. will post 10.3 EPS for the current fiscal 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.