Jump Financial LLC grew its holdings in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 327.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,109 shares of the company's stock after buying an additional 17,701 shares during the quarter. Jump Financial LLC's holdings in Spotify Technology were worth $4,342,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the business. Summit Place Financial Advisors LLC lifted its holdings in Spotify Technology by 2.7% in the fourth quarter. Summit Place Financial Advisors LLC now owns 6,169 shares of the company's stock valued at $1,159,000 after buying an additional 161 shares during the period. AGF Management Ltd. acquired a new stake in Spotify Technology in the 4th quarter valued at about $39,889,000. Hamilton Lane Advisors LLC bought a new position in Spotify Technology during the fourth quarter worth $1,731,000. Principal Securities Inc. bought a new stake in shares of Spotify Technology during the fourth quarter worth approximately $71,000. Finally, Montag A & Associates Inc. boosted its stake in Spotify Technology by 21.8% in the 4th quarter. Montag A & Associates Inc. now owns 4,076 shares of the company's stock valued at $766,000 after purchasing an additional 730 shares during the period. 84.09% of the stock is owned by institutional investors.
Spotify Technology Trading Down 1.4 %
SPOT stock traded down $4.06 during midday trading on Friday, hitting $294.60. The stock had a trading volume of 943,896 shares, compared to its average volume of 2,884,685. The business has a fifty day moving average price of $279.72 and a two-hundred day moving average price of $228.29. Spotify Technology S.A. has a 1-year low of $129.23 and a 1-year high of $319.30. The firm has a market cap of $56.03 billion, a P/E ratio of -439.69 and a beta of 1.61.
Spotify Technology (NYSE:SPOT - Get Free Report) last released its earnings results on Tuesday, April 23rd. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.63 by $0.42. The business had revenue of $3.95 billion during 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 posted ($1.24) earnings per share. On average, equities analysts anticipate that Spotify Technology S.A. will post 4.78 EPS for the current year.
Analysts Set New Price Targets
SPOT has been the topic of a number of analyst reports. Barclays increased their target price on shares of Spotify Technology from $335.00 to $350.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 24th. Loop Capital lifted their price target on shares of Spotify Technology from $165.00 to $250.00 and gave the company a "hold" rating in a report on Monday, April 22nd. JPMorgan Chase & Co. increased their price objective on shares of Spotify Technology from $320.00 to $365.00 and gave the company an "overweight" rating in a research note on Wednesday, April 24th. Bank of America raised their target price on shares of Spotify Technology from $315.00 to $370.00 and gave the company a "buy" rating in a research report on Wednesday, April 24th. Finally, Raymond James upped their price target on shares of Spotify Technology from $260.00 to $320.00 and gave the stock an "outperform" rating in a report on Monday, April 15th. Eight research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $306.42.
Check Out Our Latest Research Report on Spotify Technology
About Spotify Technology
(
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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