Moore Capital Management LP Has $97.74 Million Stake in Spotify Technology S.A. (NYSE:SPOT)

Moore Capital Management LP increased its holdings in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 56.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 218,471 shares of the company's stock after acquiring an additional 78,731 shares during the quarter. Spotify Technology comprises 1.1% of Moore Capital Management LP's portfolio, making the stock its 7th biggest holding. Moore Capital Management LP owned 0.11% of Spotify Technology worth $97,740,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake 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 during the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of Spotify Technology by 2.4% during the fourth quarter. Harbor Capital Advisors Inc. now owns 1,398 shares of the company's stock worth $625,000 after purchasing an additional 33 shares during the period. Aprio Wealth Management LLC acquired a new stake in Spotify Technology during the 4th quarter worth approximately $338,000. Matrix Trust Co bought a new stake in Spotify Technology in the 4th quarter valued at $150,000. Finally, City Center Advisors LLC acquired a new position in Spotify Technology in the 4th quarter valued at $374,000. Institutional investors own 84.09% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Phillip Securities upgraded shares of Spotify Technology to a "moderate sell" rating in a research note on Monday, May 5th. UBS Group cut their price target on Spotify Technology from $690.00 to $680.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Barclays reduced their price target on Spotify Technology from $710.00 to $650.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. FBN Securities initiated coverage on Spotify Technology in a report on Friday, March 28th. They issued a "sector perform" rating and a $645.00 price objective for the company. Finally, The Goldman Sachs Group increased their target price on Spotify Technology from $550.00 to $695.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Eight investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $606.48.

Spotify Technology Price Performance

Shares of SPOT traded up $6.20 during trading hours on Wednesday, hitting $626.27. The stock had a trading volume of 2,292,195 shares, compared to its average volume of 2,190,507. Spotify Technology S.A. has a 1-year low of $288.07 and a 1-year high of $663.55. The firm has a market capitalization of $128.20 billion, a P/E ratio of 105.26 and a beta of 1.72. The firm has a 50 day simple moving average of $579.61 and a 200-day simple moving average of $528.93.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $1.13 EPS for the quarter, missing analysts' consensus estimates of $2.29 by ($1.16). The firm 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 company's revenue was up 15.2% on a year-over-year basis. During the same period last year, the business posted $0.97 EPS. Equities analysts predict 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.