Numerai GP LLC Has $1.34 Million Position in Spotify Technology S.A. (NYSE:SPOT)

Numerai GP LLC grew its holdings in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 27.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,995 shares of the company's stock after buying an additional 638 shares during the period. Numerai GP LLC's holdings in Spotify Technology were worth $1,340,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SPOT. Auxano Advisors LLC increased its stake in shares of Spotify Technology by 2.5% during the fourth quarter. Auxano Advisors LLC now owns 828 shares of the company's stock worth $370,000 after purchasing an additional 20 shares during the period. SRS Capital Advisors Inc. increased its stake in shares of Spotify Technology by 4.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 573 shares of the company's stock worth $256,000 after purchasing an additional 25 shares during the period. Covenant Partners LLC increased its stake in shares of Spotify Technology by 2.5% during the fourth quarter. Covenant Partners LLC now owns 1,024 shares of the company's stock worth $458,000 after purchasing an additional 25 shares during the period. First Horizon Advisors Inc. increased its stake in shares of Spotify Technology by 5.4% during the fourth quarter. First Horizon Advisors Inc. now owns 504 shares of the company's stock worth $225,000 after purchasing an additional 26 shares during the period. Finally, Harbour Investments Inc. increased its stake in shares of Spotify Technology by 13.3% during the fourth quarter. Harbour Investments Inc. now owns 222 shares of the company's stock worth $99,000 after purchasing an additional 26 shares during the period. 84.09% of the stock is owned by institutional investors and hedge funds.

Spotify Technology Stock Up 2.5%

Shares of SPOT traded up $15.84 during midday trading on Friday, hitting $656.02. The company's stock had a trading volume of 2,222,366 shares, compared to its average volume of 2,191,867. Spotify Technology S.A. has a one year low of $288.07 and a one year high of $663.55. The stock has a market capitalization of $134.29 billion, a price-to-earnings ratio of 110.26 and a beta of 1.72. The company's fifty day simple moving average is $585.62 and its two-hundred day simple moving average is $532.52.

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). 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 for the quarter, compared to analyst estimates of $4.22 billion. During the same period last year, the business earned $0.97 EPS. The company's revenue was up 15.2% compared to the same quarter last year. On average, research analysts predict that Spotify Technology S.A. will post 10.3 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. FBN Securities assumed coverage on Spotify Technology in a research note on Friday, March 28th. They set a "sector perform" rating and a $645.00 target price on the stock. Robert W. Baird increased their target price on Spotify Technology from $700.00 to $730.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Barclays lowered their target price on Spotify Technology from $710.00 to $650.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Macquarie raised their price objective on Spotify Technology from $600.00 to $665.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. Finally, KeyCorp lowered their price objective on Spotify Technology from $675.00 to $625.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Eight investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average 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.