Pathway Capital Management LP Invests $27.26 Million in Spotify Technology S.A. (NYSE:SPOT)

Pathway Capital Management LP bought a new stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 145,048 shares of the company's stock, valued at approximately $27,256,000. Spotify Technology comprises 30.5% of Pathway Capital Management LP's investment portfolio, making the stock its biggest position. Pathway Capital Management LP owned about 0.07% of Spotify Technology as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Technology Crossover Management XI Ltd. boosted its stake in Spotify Technology by 36.2% during the third quarter. Technology Crossover Management XI Ltd. now owns 1,297,323 shares of the company's stock worth $200,618,000 after buying an additional 344,841 shares during the period. Nordea Investment Management AB increased its holdings in Spotify Technology by 7.9% in the 4th quarter. Nordea Investment Management AB now owns 248,659 shares of the company's stock valued at $46,927,000 after purchasing an additional 18,105 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Spotify Technology by 410.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 97,771 shares of the company's stock valued at $18,372,000 after purchasing an additional 78,609 shares during the period. GSA Capital Partners LLP lifted its stake in Spotify Technology by 452.4% during the third quarter. GSA Capital Partners LLP now owns 14,242 shares of the company's stock worth $2,202,000 after purchasing an additional 11,664 shares in the last quarter. Finally, Rheos Capital Works Inc. boosted its position in shares of Spotify Technology by 205.7% during the fourth quarter. Rheos Capital Works Inc. now owns 107,000 shares of the company's stock worth $20,106,000 after buying an additional 72,000 shares during the period. Hedge funds and other institutional investors own 84.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Macquarie boosted their target price on Spotify Technology from $300.00 to $330.00 and gave the stock an "outperform" rating in a research note on Monday, April 22nd. 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 report on Wednesday, April 24th. Raymond James raised their price objective on shares of Spotify Technology from $260.00 to $320.00 and gave the company an "outperform" rating in a report on Monday, April 15th. Loop Capital increased their target price on Spotify Technology from $165.00 to $250.00 and gave the company a "hold" rating in a report on Monday, April 22nd. Finally, Benchmark raised their price target on Spotify Technology from $325.00 to $375.00 and gave the company a "buy" rating in a research note on Wednesday, April 24th. Eight research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $306.42.

Spotify Technology Stock Performance

Shares of NYSE:SPOT traded up $4.70 during trading on Friday, reaching $302.82. 893,624 shares of the stock were exchanged, compared to its average volume of 2,766,794. The firm's 50-day moving average price is $282.70 and its 200 day moving average price is $232.95. The firm has a market cap of $57.60 billion, a price-to-earnings ratio of -451.96 and a beta of 1.61. Spotify Technology S.A. has a 12-month low of $129.23 and a 12-month high of $319.30.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its quarterly earnings results 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. The firm had revenue of $3.95 billion during the quarter, compared to analysts' expectations of $3.87 billion. Spotify Technology had a negative net margin of 0.80% and a negative return on equity of 4.39%. During the same period in the prior year, the company earned ($1.24) EPS. As a group, equities research analysts forecast that Spotify Technology S.A. will post 4.78 EPS 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.