Morgens Waterfall Vintiadis & Co. Inc. lifted its position in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 12.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,500 shares of the company's stock after acquiring an additional 1,500 shares during the quarter. Spotify Technology accounts for 4.6% of Morgens Waterfall Vintiadis & Co. Inc.'s portfolio, making the stock its 10th largest position. Morgens Waterfall Vintiadis & Co. Inc.'s holdings in Spotify Technology were worth $6,040,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in SPOT. Auxano Advisors LLC lifted its holdings in Spotify Technology by 2.5% during the 4th quarter. Auxano Advisors LLC now owns 828 shares of the company's stock valued at $370,000 after buying an additional 20 shares in the last quarter. SRS Capital Advisors Inc. lifted its holdings in Spotify Technology by 4.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 573 shares of the company's stock valued at $256,000 after buying an additional 25 shares in the last quarter. Covenant Partners LLC lifted its holdings in Spotify Technology by 2.5% during the 4th quarter. Covenant Partners LLC now owns 1,024 shares of the company's stock valued at $458,000 after buying an additional 25 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in Spotify Technology by 5.4% during the 4th quarter. First Horizon Advisors Inc. now owns 504 shares of the company's stock valued at $225,000 after buying an additional 26 shares in the last quarter. Finally, Harbour Investments Inc. lifted its holdings in Spotify Technology by 13.3% during the 4th quarter. Harbour Investments Inc. now owns 222 shares of the company's stock valued at $99,000 after buying an additional 26 shares in the last quarter. Institutional investors own 84.09% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms have recently commented on SPOT. Phillip Securities upgraded shares of Spotify Technology to a "moderate sell" rating in a report on Monday, May 5th. Wells Fargo & Company boosted their price target on shares of Spotify Technology from $690.00 to $740.00 and gave the company an "overweight" rating in a report on Friday, March 28th. KeyCorp reduced their price target on shares of Spotify Technology from $675.00 to $625.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Rosenblatt Securities reduced their price target on shares of Spotify Technology from $658.00 to $657.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. Finally, Cantor Fitzgerald reduced their price target on shares of Spotify Technology from $600.00 to $520.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Eight investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company's stock. Based on data from MarketBeat, Spotify Technology presently has a consensus rating of "Moderate Buy" and an average target price of $606.48.
Check Out Our Latest Analysis on Spotify Technology
Spotify Technology Trading Up 2.5%
NYSE:SPOT traded up $15.84 during trading hours on Friday, reaching $656.02. 2,222,366 shares of the company were exchanged, compared to its average volume of 2,191,867. The stock's 50-day moving average is $585.62 and its 200-day moving average is $532.52. 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 twelve month low of $288.07 and a twelve month high of $663.55.
Spotify Technology (NYSE:SPOT - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $1.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.29 by ($1.16). Spotify Technology had a return on equity of 25.56% and a net margin of 7.26%. The business had revenue of $4.41 billion for the quarter, compared to analysts' expectations of $4.22 billion. During the same period in the previous year, the company earned $0.97 EPS. Spotify Technology's quarterly revenue was up 15.2% compared to the same quarter last year. As a group, research analysts anticipate that Spotify Technology S.A. will post 10.3 EPS for the current year.
Spotify Technology Company Profile
(
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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