KLR Investment Advisors LLC Purchases New Shares in Spotify Technology S.A. (NYSE:SPOT)

KLR Investment Advisors LLC acquired a new stake in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 5,887 shares of the company's stock, valued at approximately $1,106,000. Spotify Technology makes up 0.8% of KLR Investment Advisors LLC's portfolio, making the stock its 27th largest position.

A number of other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP raised its stake in shares of Spotify Technology by 61.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,970,540 shares of the company's stock worth $459,364,000 after purchasing an additional 1,133,305 shares during the period. Schroder Investment Management Group raised its position in Spotify Technology by 303.4% in the third quarter. Schroder Investment Management Group now owns 1,315,289 shares of the company's stock worth $203,396,000 after acquiring an additional 989,243 shares during the period. Artisan Partners Limited Partnership raised its position in Spotify Technology by 194.7% in the third quarter. Artisan Partners Limited Partnership now owns 1,123,078 shares of the company's stock worth $173,673,000 after acquiring an additional 741,955 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Spotify Technology by 16.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,699,008 shares of the company's stock valued at $572,015,000 after acquiring an additional 523,237 shares during the period. Finally, Citigroup Inc. increased its stake in shares of Spotify Technology by 1,037.4% during the 3rd quarter. Citigroup Inc. now owns 386,191 shares of the company's stock worth $59,721,000 after purchasing an additional 352,237 shares during the last quarter. 84.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on SPOT shares. Canaccord Genuity Group raised their target price on Spotify Technology from $315.00 to $330.00 and gave the stock a "buy" rating in a research report on Monday, April 22nd. HSBC boosted their price objective on Spotify Technology from $310.00 to $355.00 and gave the company a "buy" rating in a research note on Wednesday, April 24th. JPMorgan Chase & Co. increased their target price on shares of Spotify Technology from $320.00 to $365.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 24th. KeyCorp boosted their price target on shares of Spotify Technology from $300.00 to $350.00 and gave the company an "overweight" rating in a research report on Friday, April 12th. Finally, Barclays raised their price objective on shares of Spotify Technology from $335.00 to $350.00 and gave the stock an "overweight" rating in a report on Wednesday, April 24th. 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 presently has a consensus rating of "Moderate Buy" and a consensus price target of $306.42.

Spotify Technology Stock Performance

NYSE:SPOT traded up $0.45 during mid-day trading on Tuesday, reaching $290.16. The stock had a trading volume of 914,094 shares, compared to its average volume of 2,096,719. The stock has a market capitalization of $55.19 billion, a P/E ratio of -431.64 and a beta of 1.61. The firm has a 50 day moving average price of $280.11 and a two-hundred day moving average price of $230.09. Spotify Technology S.A. has a one year low of $129.23 and a one year high of $319.30.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.05 earnings per share for the quarter, topping 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 analyst estimates of $3.87 billion. During the same period in the previous year, the business posted ($1.24) EPS. Research analysts forecast that Spotify Technology S.A. will post 4.78 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.

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