International Assets Investment Management LLC bought a new position in Spotify Technology S.A. (NYSE:SPOT - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 175,320 shares of the company's stock, valued at approximately $32,944,000. International Assets Investment Management LLC owned 0.09% of Spotify Technology as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Private Trust Co. NA boosted its holdings in shares of Spotify Technology by 18.4% in the 4th quarter. Private Trust Co. NA now owns 367 shares of the company's stock valued at $69,000 after purchasing an additional 57 shares during the last quarter. Ieq Capital LLC boosted its holdings in shares of Spotify Technology by 0.3% in the 3rd quarter. Ieq Capital LLC now owns 24,540 shares of the company's stock valued at $3,795,000 after purchasing an additional 85 shares during the last quarter. Everhart Financial Group Inc. boosted its holdings in shares of Spotify Technology by 5.1% in the 3rd quarter. Everhart Financial Group Inc. now owns 2,151 shares of the company's stock valued at $333,000 after purchasing an additional 105 shares during the last quarter. Orion Portfolio Solutions LLC boosted its holdings in shares of Spotify Technology by 7.8% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 1,457 shares of the company's stock valued at $225,000 after purchasing an additional 105 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its holdings in shares of Spotify Technology by 195.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 177 shares of the company's stock valued at $27,000 after purchasing an additional 117 shares during the last quarter. 84.09% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on SPOT. Rosenblatt Securities lifted their price target on shares of Spotify Technology from $315.00 to $396.00 and gave the company a "buy" rating in a report on Wednesday, April 24th. Wells Fargo & Company lifted their target price on shares of Spotify Technology from $250.00 to $280.00 and gave the company an "overweight" rating in a report on Wednesday, January 31st. TheStreet upgraded shares of Spotify Technology from a "d+" rating to a "c-" rating in a report on Friday, February 9th. The Goldman Sachs Group lifted their target price on shares of Spotify Technology from $277.00 to $317.00 and gave the company a "neutral" rating in a report on Wednesday, April 24th. Finally, Morgan Stanley lifted their target price on shares of Spotify Technology from $270.00 to $350.00 and gave the company an "overweight" rating in a report on Monday, April 22nd. Eight research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $301.81.
View Our Latest Stock Report on SPOT
Spotify Technology Stock Performance
Shares of NYSE SPOT traded up $1.90 during trading on Friday, reaching $296.07. The stock had a trading volume of 1,503,922 shares, compared to its average volume of 3,020,316. Spotify Technology S.A. has a one year low of $129.23 and a one year high of $319.30. The stock has a market cap of $56.31 billion, a PE ratio of -441.90 and a beta of 1.61. The firm's 50 day moving average price is $275.53 and its two-hundred day moving average price is $223.23.
Spotify Technology (NYSE:SPOT - Get Free Report) last issued its quarterly 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 return on equity of 4.39% and a negative net margin of 0.80%. The business had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.87 billion. During the same period in the previous year, the business earned ($1.24) EPS. On average, research analysts expect that Spotify Technology S.A. will post 4.78 earnings per share for the current year.
Spotify Technology Profile
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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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