Square Peg Capital PTY Ltd. acquired a new position in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 30,246 shares of the company's stock, valued at approximately $13,531,000. Spotify Technology makes up about 12.4% of Square Peg Capital PTY Ltd.'s holdings, making the stock its 4th largest position.
A number of other institutional investors have also recently added to or reduced their stakes in SPOT. Jennison Associates LLC purchased a new position in shares of Spotify Technology during the fourth quarter valued at approximately $1,335,575,000. FMR LLC increased its position in shares of Spotify Technology by 30.2% in the fourth quarter. FMR LLC now owns 2,041,387 shares of the company's stock worth $913,276,000 after acquiring an additional 473,569 shares in the last quarter. Schroder Investment Management Group boosted its stake in shares of Spotify Technology by 0.4% in the fourth quarter. Schroder Investment Management Group now owns 1,912,937 shares of the company's stock valued at $855,810,000 after purchasing an additional 7,075 shares during the period. GQG Partners LLC purchased a new position in shares of Spotify Technology in the fourth quarter valued at $800,725,000. Finally, Geode Capital Management LLC boosted its stake in shares of Spotify Technology by 561.6% in the fourth quarter. Geode Capital Management LLC now owns 1,483,392 shares of the company's stock valued at $659,841,000 after purchasing an additional 1,259,183 shares during the period. Hedge funds and other institutional investors own 84.09% of the company's stock.
Spotify Technology Trading Up 1.3%
NYSE SPOT traded up $8.25 during trading on Monday, reaching $664.55. The company's stock had a trading volume of 1,973,543 shares, compared to its average volume of 2,196,201. The stock has a market capitalization of $136.04 billion, a PE ratio of 111.69 and a beta of 1.72. The business has a 50-day moving average price of $585.62 and a 200-day moving average price of $534.52. Spotify Technology S.A. has a 1-year low of $288.07 and a 1-year high of $668.49.
Spotify Technology (NYSE:SPOT - Get Free Report) last posted 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). The business had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.22 billion. Spotify Technology had a net margin of 7.26% and a return on equity of 25.56%. Spotify Technology's revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.97 earnings per share. As a group, analysts expect 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 have commented on SPOT shares. Wolfe Research upgraded shares of Spotify Technology from a "peer perform" rating to an "outperform" rating and set a $660.00 price objective on the stock in a research note on Monday, April 21st. Evercore ISI dropped their price objective on shares of Spotify Technology from $700.00 to $650.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. UBS Group dropped their price objective on shares of Spotify Technology from $690.00 to $680.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Canaccord Genuity Group raised their target price on shares of Spotify Technology from $650.00 to $700.00 and gave the company a "buy" rating in a research note on Wednesday, February 5th. Finally, Wells Fargo & Company lifted their price objective on shares of Spotify Technology from $690.00 to $740.00 and gave the stock an "overweight" rating in a research note on Friday, March 28th. Eight investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $606.48.
Read Our Latest Stock Report 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.
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