CHURCHILL MANAGEMENT Corp Takes Position in Spotify Technology S.A. (NYSE:SPOT)

CHURCHILL MANAGEMENT Corp bought a new stake in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 5,165 shares of the company's stock, valued at approximately $2,311,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Prestige Wealth Management Group LLC bought a new position in Spotify Technology during the third quarter valued at $26,000. Benjamin Edwards Inc. raised its position in shares of Spotify Technology by 214.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 85 shares of the company's stock valued at $27,000 after buying an additional 58 shares in the last quarter. Hobbs Group Advisors LLC purchased a new position in Spotify Technology in the third quarter worth about $33,000. Larson Financial Group LLC increased its stake in Spotify Technology by 51.6% during the third quarter. Larson Financial Group LLC now owns 97 shares of the company's stock worth $36,000 after acquiring an additional 33 shares during the last quarter. Finally, V Square Quantitative Management LLC bought a new stake in Spotify Technology during the third quarter worth approximately $40,000. 84.09% of the stock is owned by hedge funds and other institutional investors.

Spotify Technology Price Performance

Shares of NYSE:SPOT traded down $0.61 during trading hours on Thursday, hitting $490.08. The company's stock had a trading volume of 1,376,281 shares, compared to its average volume of 1,632,858. The firm's fifty day moving average price is $465.30 and its 200 day moving average price is $387.49. Spotify Technology S.A. has a 52 week low of $191.88 and a 52 week high of $506.47. The company has a market capitalization of $97.55 billion, a price-to-earnings ratio of 133.17 and a beta of 1.62.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $1.45 EPS for the quarter, missing analysts' consensus estimates of $1.75 by ($0.30). The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.03 billion. Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. The business's quarterly revenue was up 18.8% on a year-over-year basis. During the same period last year, the firm earned $0.36 EPS. On average, equities research analysts predict that Spotify Technology S.A. will post 5.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on SPOT shares. Macquarie lifted their target price on Spotify Technology from $395.00 to $500.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. lifted their price objective on shares of Spotify Technology from $425.00 to $530.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 13th. The Goldman Sachs Group boosted their price objective on shares of Spotify Technology from $490.00 to $550.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Pivotal Research lifted their price target on shares of Spotify Technology from $510.00 to $565.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Finally, Bank of America increased their price objective on shares of Spotify Technology from $430.00 to $515.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $441.21.

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.