Lecap Asset Management Ltd. Makes New $602,000 Investment in Spotify Technology S.A. (NYSE:SPOT)

Lecap Asset Management Ltd. purchased a new position in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,204 shares of the company's stock, valued at approximately $602,000.

A number of other large investors have also added to or reduced their stakes in SPOT. Cetera Advisor Networks LLC grew its position in Spotify Technology by 142.4% during the first quarter. Cetera Advisor Networks LLC now owns 3,071 shares of the company's stock worth $464,000 after buying an additional 1,804 shares in the last quarter. Private Advisor Group LLC lifted its stake in Spotify Technology by 19.8% during the first quarter. Private Advisor Group LLC now owns 4,909 shares of the company's stock worth $741,000 after purchasing an additional 811 shares during the last quarter. BlackRock Inc. lifted its stake in Spotify Technology by 6.3% during the first quarter. BlackRock Inc. now owns 4,046,153 shares of the company's stock worth $611,049,000 after purchasing an additional 241,026 shares during the last quarter. Cibc World Market Inc. lifted its stake in Spotify Technology by 22.4% during the first quarter. Cibc World Market Inc. now owns 4,823 shares of the company's stock worth $728,000 after purchasing an additional 883 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Spotify Technology by 68.6% during the first quarter. Dimensional Fund Advisors LP now owns 190,255 shares of the company's stock worth $28,735,000 after purchasing an additional 77,379 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company's stock.

Spotify Technology Stock Down 3.3 %

Spotify Technology stock traded down $9.93 during trading hours on Monday, reaching $290.52. 1,942,756 shares of the company's stock were exchanged, compared to its average volume of 1,915,509. The firm's 50 day simple moving average is $262.87 and its 200 day simple moving average is $211.24. Spotify Technology S.A. has a twelve month low of $128.67 and a twelve month high of $313.16. The firm has a market capitalization of $57.62 billion, a PE ratio of -98.15 and a beta of 1.63.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The company reported ($0.36) earnings per share for the quarter, topping analysts' consensus estimates of ($0.37) by $0.01. Spotify Technology had a negative return on equity of 23.43% and a negative net margin of 4.01%. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same period last year, the business posted ($1.43) EPS. The business's revenue was up 16.0% compared to the same quarter last year. Analysts anticipate that Spotify Technology S.A. will post 3.55 EPS for the current year.

Wall Street Analyst Weigh In

SPOT has been the subject of several recent analyst reports. Barclays upped their target price on Spotify Technology from $270.00 to $335.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 10th. Macquarie restated an "outperform" rating and set a $300.00 target price (up from $232.00) on shares of Spotify Technology in a research note on Wednesday, February 7th. Wells Fargo & Company upped their target price on Spotify Technology from $250.00 to $280.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 31st. DZ Bank upgraded Spotify Technology from a "sell" rating to a "hold" rating and set a $240.00 price target for the company in a research note on Wednesday, February 7th. Finally, Pivotal Research increased their price target on Spotify Technology from $330.00 to $390.00 and gave the company a "buy" rating in a research note on Friday, April 5th. Six equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Spotify Technology has an average rating of "Moderate Buy" and a consensus target price of $254.16.

Spotify Technology 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.