National Bank of Canada FI Boosts Stake in Spotify Technology S.A. (NYSE:SPOT)

National Bank of Canada FI raised its stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 1,581.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,836 shares of the company's stock after purchasing an additional 47,813 shares during the quarter. National Bank of Canada FI's holdings in Spotify Technology were worth $9,598,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp increased its holdings in Spotify Technology by 3.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 342,235 shares of the company's stock worth $52,923,000 after purchasing an additional 11,876 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Spotify Technology by 4.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 66,343 shares of the company's stock valued at $10,259,000 after acquiring an additional 2,611 shares in the last quarter. TD Asset Management Inc boosted its stake in Spotify Technology by 19.3% during the 3rd quarter. TD Asset Management Inc now owns 504,179 shares of the company's stock valued at $77,966,000 after acquiring an additional 81,429 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in Spotify Technology by 195.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 177 shares of the company's stock worth $27,000 after acquiring an additional 117 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Spotify Technology by 166.5% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 462,408 shares of the company's stock worth $71,507,000 after purchasing an additional 288,917 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Benchmark lifted their price target on Spotify Technology from $325.00 to $375.00 and gave the stock a "buy" rating in a research note on Wednesday, April 24th. The Goldman Sachs Group boosted their price target on Spotify Technology from $277.00 to $317.00 and gave the company a "neutral" rating in a report on Wednesday, April 24th. Macquarie raised their price objective on Spotify Technology from $300.00 to $330.00 and gave the stock an "outperform" rating in a research note on Monday, April 22nd. Loop Capital boosted their target price on shares of Spotify Technology from $165.00 to $250.00 and gave the company a "hold" rating in a research note on Monday, April 22nd. Finally, Piper Sandler restated a "neutral" rating and issued a $320.00 price target (up from $300.00) on shares of Spotify Technology in a research report on Wednesday, April 24th. Eight equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Spotify Technology presently has an average rating of "Moderate Buy" and a consensus price target of $306.42.

Spotify Technology Price Performance

Shares of NYSE SPOT traded down $3.94 during trading hours on Friday, hitting $294.72. 943,611 shares of the company's stock were exchanged, compared to its average volume of 2,122,963. The stock has a market capitalization of $56.06 billion, a price-to-earnings ratio of -439.88 and a beta of 1.61. The company's 50-day moving average price is $279.10 and its 200-day moving average price is $227.32. Spotify Technology S.A. has a 1-year low of $129.23 and a 1-year high of $319.30.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its quarterly earnings results 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. Spotify Technology had a negative net margin of 0.80% and a negative return on equity of 4.39%. The company had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.87 billion. During the same period last year, the business posted ($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 Company 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.