Nia Impact Advisors LLC Makes New $2.20 Million Investment in Spotify Technology S.A. (NYSE:SPOT)

Nia Impact Advisors LLC purchased a new stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,910 shares of the company's stock, valued at approximately $2,197,000.

Other large investors have also recently modified their holdings of the company. Jennison Associates LLC acquired a new stake in Spotify Technology during the fourth quarter worth approximately $1,335,575,000. GQG Partners LLC bought a new position in shares of Spotify Technology during the 4th quarter worth approximately $800,725,000. Forsta AP Fonden acquired a new stake in shares of Spotify Technology during the 4th quarter worth approximately $619,600,000. Geode Capital Management LLC increased its stake in shares of Spotify Technology by 561.6% in the 4th quarter. Geode Capital Management LLC now owns 1,483,392 shares of the company's stock valued at $659,841,000 after acquiring an additional 1,259,183 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Spotify Technology during the 4th quarter valued at $396,028,000. Institutional investors own 84.09% of the company's stock.

Spotify Technology Price Performance

Shares of NYSE SPOT traded up $15.84 during mid-day trading on Friday, reaching $656.02. 2,222,366 shares of the company's stock were exchanged, compared to its average volume of 2,191,867. The firm has a 50-day moving average price of $585.62 and a two-hundred day moving average price of $532.52. The firm has a market capitalization of $134.29 billion, a price-to-earnings ratio of 110.26 and a beta of 1.72. Spotify Technology S.A. has a 52 week low of $288.07 and a 52 week high of $663.55.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $1.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $4.22 billion. During the same quarter in the prior year, the firm posted $0.97 earnings per share. The company's revenue was up 15.2% on a year-over-year basis. As a group, sell-side analysts forecast that Spotify Technology S.A. will post 10.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SPOT. China Renaissance started coverage on shares of Spotify Technology in a report on Wednesday, March 26th. They issued a "buy" rating and a $740.00 price target for the company. Barclays cut their price target on Spotify Technology from $710.00 to $650.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Evercore ISI reduced their price objective on Spotify Technology from $700.00 to $650.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Phillip Securities raised Spotify Technology to a "moderate sell" rating in a research report on Monday, May 5th. Finally, Benchmark increased their target price on Spotify Technology from $600.00 to $720.00 and gave the stock a "buy" rating in a report on Wednesday, February 5th. Eight research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $606.48.

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.