Point72 Europe London LLP lifted its stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 132.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,041 shares of the company's stock after purchasing an additional 21,077 shares during the period. Point72 Europe London LLP's holdings in Spotify Technology were worth $16,571,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of SPOT. Thrivent Financial for Lutherans boosted its position in Spotify Technology by 566.1% during the 4th quarter. Thrivent Financial for Lutherans now owns 7,980 shares of the company's stock valued at $3,541,000 after purchasing an additional 6,782 shares during the period. Jennison Associates LLC purchased a new position in Spotify Technology during the 4th quarter valued at about $1,335,575,000. Marks Group Wealth Management Inc acquired a new stake in Spotify Technology during the fourth quarter valued at $535,000. Patriot Financial Group Insurance Agency LLC bought a new position in shares of Spotify Technology during the 4th quarter valued at $214,000. Finally, Swedbank AB grew its holdings in Spotify Technology by 20.9% during the fourth quarter. Swedbank AB now owns 946,129 shares of the company's stock valued at $423,279,000 after purchasing an additional 163,626 shares during the last quarter. Hedge funds and other institutional investors own 84.09% of the company's stock.
Spotify Technology Stock Up 1.0%
SPOT stock opened at $626.27 on Thursday. The firm has a market capitalization of $128.20 billion, a PE ratio of 105.26 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. The stock has a 50-day simple moving average of $579.61 and a two-hundred day simple moving average of $528.93.
Spotify Technology (NYSE:SPOT - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $1.13 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 company had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.22 billion. During the same quarter last year, the company posted $0.97 earnings per share. The firm's revenue for the quarter was up 15.2% compared to the same quarter last year. On average, equities research analysts anticipate that Spotify Technology S.A. will post 10.3 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on SPOT. Barclays cut their price objective on Spotify Technology from $710.00 to $650.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. China Renaissance began coverage on shares of Spotify Technology in a research report on Wednesday, March 26th. They set a "buy" rating and a $740.00 price target on the stock. Canaccord Genuity Group upped their price target on shares of Spotify Technology from $650.00 to $700.00 and gave the stock a "buy" rating in a report on Wednesday, February 5th. FBN Securities began coverage on Spotify Technology in a research note on Friday, March 28th. They set a "sector perform" rating and a $645.00 target price for the company. Finally, Rosenblatt Securities lowered their price objective on Spotify Technology from $658.00 to $657.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. Eight research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $606.48.
Get Our Latest Stock Analysis 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.
Further Reading
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