Oak Ridge Investments LLC Invests $5.25 Million in Spotify Technology S.A. (NYSE:SPOT)

Oak Ridge Investments LLC bought a new stake in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 11,730 shares of the company's stock, valued at approximately $5,248,000.

A number of other large investors also recently made changes to their positions in SPOT. WCM Investment Management LLC raised its holdings in shares of Spotify Technology by 18.5% during the third quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company's stock worth $1,430,142,000 after acquiring an additional 605,755 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Spotify Technology by 3.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,492,170 shares of the company's stock worth $1,286,969,000 after purchasing an additional 102,786 shares during the last quarter. State Street Corp raised its stake in shares of Spotify Technology by 1.5% during the 3rd quarter. State Street Corp now owns 1,997,323 shares of the company's stock worth $736,073,000 after purchasing an additional 28,864 shares in the last quarter. FMR LLC raised its stake in shares of Spotify Technology by 23.4% during the 3rd quarter. FMR LLC now owns 1,567,818 shares of the company's stock worth $577,788,000 after purchasing an additional 297,035 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its holdings in shares of Spotify Technology by 19.0% during the 3rd quarter. Two Sigma Advisers LP now owns 980,000 shares of the company's stock valued at $361,159,000 after buying an additional 156,300 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company's stock.

Spotify Technology Price Performance

Shares of NYSE SPOT traded down $4.27 during trading hours on Friday, reaching $486.07. The stock had a trading volume of 2,021,276 shares, compared to its average volume of 1,296,667. The company has a market cap of $96.75 billion, a price-to-earnings ratio of 132.08 and a beta of 1.62. Spotify Technology S.A. has a twelve month low of $200.81 and a twelve month high of $506.47. The business's fifty day moving average is $468.82 and its two-hundred day moving average is $389.91.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $1.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.75 by ($0.30). Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The business had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.03 billion. During the same quarter in the prior year, the company posted $0.36 EPS. The company's quarterly revenue was up 18.8% compared to the same quarter last year. Sell-side analysts forecast that Spotify Technology S.A. will post 5.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Rosenblatt Securities increased their price objective on Spotify Technology from $399.00 to $438.00 and gave the stock a "buy" rating in a report on Thursday, October 17th. UBS Group increased their price target on shares of Spotify Technology from $485.00 to $540.00 and gave the stock a "buy" rating in a research note on Wednesday. Piper Sandler lifted their price objective on shares of Spotify Technology from $330.00 to $450.00 and gave the company a "neutral" rating in a research note on Wednesday, November 13th. Canaccord Genuity Group increased their target price on shares of Spotify Technology from $525.00 to $560.00 and gave the stock a "buy" rating in a research report on Monday, December 2nd. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Spotify Technology from $430.00 to $440.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $441.21.

Spotify Technology Company 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.