K.J. Harrison & Partners Inc Invests $1.28 Million in Spotify Technology S.A. (NYSE:SPOT)

K.J. Harrison & Partners Inc acquired a new stake in shares of 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 (SEC). The fund acquired 6,812 shares of the company's stock, valued at approximately $1,280,000.

Several other institutional investors have also added to or reduced their stakes in the company. Lindbrook Capital LLC raised its position in Spotify Technology by 32.3% during the fourth quarter. Lindbrook Capital LLC now owns 205 shares of the company's stock valued at $39,000 after purchasing an additional 50 shares in the last quarter. Signaturefd LLC grew its stake in shares of Spotify Technology by 4.4% during the fourth quarter. Signaturefd LLC now owns 1,222 shares of the company's stock worth $230,000 after buying an additional 51 shares during the last quarter. Private Trust Co. NA grew its stake in shares of Spotify Technology by 18.4% during the fourth quarter. Private Trust Co. NA now owns 367 shares of the company's stock worth $69,000 after buying an additional 57 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in shares of Spotify Technology by 21.6% during the fourth quarter. Parkside Financial Bank & Trust now owns 354 shares of the company's stock worth $67,000 after buying an additional 63 shares during the last quarter. Finally, Ieq Capital LLC grew its stake in shares of Spotify Technology by 0.3% during the third quarter. Ieq Capital LLC now owns 24,540 shares of the company's stock worth $3,795,000 after buying an additional 85 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SPOT. Bank of America boosted their price objective on shares of Spotify Technology from $315.00 to $370.00 and gave the stock a "buy" rating in a research note on Wednesday. Raymond James boosted their price objective on shares of Spotify Technology from $260.00 to $320.00 and gave the stock an "outperform" rating in a research note on Monday, April 15th. Wells Fargo & Company boosted their price objective on shares of Spotify Technology from $250.00 to $280.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 31st. HSBC boosted their price objective on shares of Spotify Technology from $310.00 to $355.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, Macquarie upped their price target on shares of Spotify Technology from $300.00 to $330.00 and gave the company an "outperform" rating in a research report on Monday, April 22nd. Eight investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company's stock. Based on data from MarketBeat, Spotify Technology has an average rating of "Moderate Buy" and a consensus target price of $301.81.

Spotify Technology Price Performance

Shares of Spotify Technology stock traded up $0.57 on Friday, reaching $289.59. 2,477,228 shares of the company traded hands, compared to its average volume of 3,137,877. Spotify Technology S.A. has a 52 week low of $128.67 and a 52 week high of $319.30. The company has a 50 day moving average of $271.48 and a 200 day moving average of $219.09. The firm has a market capitalization of $57.43 billion, a PE ratio of -432.22 and a beta of 1.63.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its earnings results on Tuesday, April 23rd. The company reported $1.05 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.42. Spotify Technology had a negative net margin of 0.80% and a negative return on equity of 4.39%. The firm had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.87 billion. During the same period in the prior year, the firm earned ($1.24) EPS. As a group, analysts anticipate that Spotify Technology S.A. will post 4.02 earnings per share for the current year.

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.