Vontobel Holding Ltd. lifted its stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 16.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,815 shares of the company's stock after purchasing an additional 5,437 shares during the quarter. Vontobel Holding Ltd.'s holdings in Spotify Technology were worth $7,294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently modified their holdings of the company. Cetera Advisor Networks LLC raised its position in Spotify Technology by 142.4% in the 1st 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 during the last quarter. Private Advisor Group LLC raised its position in Spotify Technology by 19.8% in the 1st quarter. Private Advisor Group LLC now owns 4,909 shares of the company's stock worth $741,000 after buying an additional 811 shares during the last quarter. BlackRock Inc. raised its position in Spotify Technology by 6.3% in the 1st quarter. BlackRock Inc. now owns 4,046,153 shares of the company's stock worth $611,049,000 after buying an additional 241,026 shares during the last quarter. Cibc World Market Inc. raised its position in Spotify Technology by 22.4% in the 1st quarter. Cibc World Market Inc. now owns 4,823 shares of the company's stock worth $728,000 after buying an additional 883 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Spotify Technology by 68.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 190,255 shares of the company's stock worth $28,735,000 after buying an additional 77,379 shares during the last quarter. Hedge funds and other institutional investors own 84.09% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on the stock. Rosenblatt Securities upped their price target on shares of Spotify Technology from $300.00 to $315.00 and gave the company a "buy" rating in a research report on Wednesday, February 7th. Pivotal Research upped their price target on shares of Spotify Technology from $330.00 to $390.00 and gave the company a "buy" rating in a research report on Friday, April 5th. Wells Fargo & Company upped their price target on shares of Spotify Technology from $250.00 to $280.00 and gave the company an "overweight" rating in a research report on Wednesday, January 31st. Barclays upped their price target on shares of Spotify Technology from $270.00 to $335.00 and gave the company an "overweight" rating in a research report on Wednesday, April 10th. Finally, Morgan Stanley upped their price target on shares of Spotify Technology from $250.00 to $270.00 and gave the company an "overweight" rating in a research report on Wednesday, February 7th. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Spotify Technology has a consensus rating of "Moderate Buy" and a consensus target price of $263.84.
Read Our Latest Research Report on Spotify Technology
Spotify Technology Stock Performance
SPOT stock traded down $4.40 during midday trading on Wednesday, reaching $293.68. The company's stock had a trading volume of 1,470,796 shares, compared to its average volume of 1,905,051. The stock has a fifty day simple moving average of $265.25 and a two-hundred day simple moving average of $212.82. Spotify Technology S.A. has a 1 year low of $128.67 and a 1 year high of $313.16. The firm has a market capitalization of $58.25 billion, a price-to-earnings ratio of -99.22 and a beta of 1.63.
Spotify Technology (NYSE:SPOT - Get Free Report) last released its 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 business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same quarter last year, the firm posted ($1.43) earnings per share. The business's revenue was up 16.0% compared to the same quarter last year. As a group, analysts forecast that Spotify Technology S.A. will post 3.51 EPS for the current fiscal year.
Spotify Technology Company Profile
(
Free Report)
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.
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