Handelsbanken Fonder AB Has $6.79 Million Stock Holdings in Spotify Technology S.A. (NYSE:SPOT)

Handelsbanken Fonder AB lifted its position in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 41.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,146 shares of the company's stock after buying an additional 10,671 shares during the quarter. Handelsbanken Fonder AB's holdings in Spotify Technology were worth $6,792,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in SPOT. Impact Partnership Wealth LLC bought a new stake in shares of Spotify Technology in the 3rd quarter valued at about $43,000. Exchange Traded Concepts LLC lifted its stake in shares of Spotify Technology by 122.0% in the third quarter. Exchange Traded Concepts LLC now owns 7,795 shares of the company's stock worth $1,205,000 after buying an additional 4,283 shares in the last quarter. Asset Management One Co. Ltd. lifted its position in Spotify Technology by 87.7% during the third quarter. Asset Management One Co. Ltd. now owns 49,807 shares of the company's stock worth $7,702,000 after buying an additional 23,272 shares in the last quarter. Slow Capital Inc. grew its stake in shares of Spotify Technology by 1.8% in the 3rd quarter. Slow Capital Inc. now owns 18,393 shares of the company's stock valued at $2,844,000 after buying an additional 333 shares during the period. Finally, Harbor Capital Advisors Inc. increased its position in shares of Spotify Technology by 6.6% during the third quarter. Harbor Capital Advisors Inc. now owns 2,315 shares of the company's stock valued at $358,000 after acquiring an additional 143 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. JPMorgan Chase & Co. increased their target price on Spotify Technology from $320.00 to $365.00 and gave the company an "overweight" rating in a report on Wednesday. Raymond James upped their target price on shares of Spotify Technology from $260.00 to $320.00 and gave the company an "outperform" rating in a report on Monday, April 15th. Benchmark lifted their price target on shares of Spotify Technology from $325.00 to $375.00 and gave the stock a "buy" rating in a research note on Wednesday. Pivotal Research boosted their price target on shares of Spotify Technology from $390.00 to $400.00 and gave the company a "buy" rating in a research report on Tuesday. Finally, Guggenheim raised their price objective on Spotify Technology from $290.00 to $350.00 and gave the stock a "buy" rating in a report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company's stock. According to MarketBeat, Spotify Technology currently has an average rating of "Moderate Buy" and a consensus price target of $301.81.

Spotify Technology Trading Up 0.2 %

Shares of Spotify Technology stock traded up $0.66 during mid-day trading on Friday, hitting $289.68. 2,476,537 shares of the stock were exchanged, compared to its average volume of 2,205,144. The company has a 50-day simple moving average of $271.48 and a 200 day simple moving average of $218.66. The stock has a market capitalization of $57.45 billion, a price-to-earnings ratio of -432.35 and a beta of 1.63. Spotify Technology S.A. has a twelve month low of $128.67 and a twelve month high of $319.30.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.42. The business had revenue of $3.95 billion for the quarter, compared to analysts' expectations of $3.87 billion. Spotify Technology had a negative return on equity of 4.39% and a negative net margin of 0.80%. During the same quarter last year, the firm earned ($1.24) earnings per share. Equities research analysts forecast that Spotify Technology S.A. will post 3.97 earnings per share for the current fiscal year.

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.