Point72 Hong Kong Ltd Grows Stake in Spotify Technology S.A. (NYSE:SPOT)

Point72 Hong Kong Ltd grew its holdings in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 46.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 26,659 shares of the company's stock after buying an additional 8,483 shares during the quarter. Point72 Hong Kong Ltd's holdings in Spotify Technology were worth $11,927,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of SPOT. Hillsdale Investment Management Inc. bought a new position in shares of Spotify Technology in the 4th quarter worth approximately $27,000. Quent Capital LLC increased its position in Spotify Technology by 135.7% during the 4th quarter. Quent Capital LLC now owns 99 shares of the company's stock valued at $44,000 after buying an additional 57 shares in the last quarter. Noble Wealth Management PBC bought a new position in Spotify Technology during the 4th quarter valued at approximately $52,000. Colonial Trust Co SC increased its position in Spotify Technology by 1,009.1% during the 4th quarter. Colonial Trust Co SC now owns 122 shares of the company's stock valued at $55,000 after buying an additional 111 shares in the last quarter. Finally, Larson Financial Group LLC increased its position in Spotify Technology by 48.5% during the 4th quarter. Larson Financial Group LLC now owns 144 shares of the company's stock valued at $64,000 after buying an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 84.09% of the company's stock.

Spotify Technology Stock Up 2.5%

NYSE:SPOT traded up $15.84 on Friday, reaching $656.02. 2,222,366 shares of the company's stock traded hands, compared to its average volume of 2,197,081. The stock has a 50-day simple moving average of $585.62 and a 200-day simple moving average of $533.48. The firm has a market cap of $134.29 billion, a PE ratio of 110.26 and a beta of 1.72. Spotify Technology S.A. has a 12 month low of $288.07 and a 12 month high of $663.55.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.29 by ($1.16). Spotify Technology had a return on equity of 25.56% and a net margin of 7.26%. The firm had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.22 billion. During the same period last year, the firm posted $0.97 earnings per share. The company's revenue for the quarter was up 15.2% compared to the same quarter last year. On average, equities analysts anticipate that Spotify Technology S.A. will post 10.3 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on SPOT shares. Cantor Fitzgerald reduced their price objective on Spotify Technology from $600.00 to $520.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Citigroup increased their target price on Spotify Technology from $540.00 to $720.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. Evercore ISI cut their target price on Spotify Technology from $700.00 to $650.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. The Goldman Sachs Group increased their target price on Spotify Technology from $550.00 to $695.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Finally, Robert W. Baird increased their target price on Spotify Technology from $700.00 to $730.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Eight equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $606.48.

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.