Park Avenue Securities LLC Has $2.26 Million Stake in Spotify Technology S.A. (NYSE:SPOT)

Park Avenue Securities LLC lifted its stake in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 45.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,062 shares of the company's stock after purchasing an additional 1,578 shares during the period. Park Avenue Securities LLC's holdings in Spotify Technology were worth $2,264,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of SPOT. SYSTM Wealth Solutions LLC bought a new stake in Spotify Technology during the second quarter valued at $104,000. Mercer Global Advisors Inc. ADV grew its position in shares of Spotify Technology by 20.1% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 2,600 shares of the company's stock valued at $816,000 after buying an additional 435 shares during the last quarter. Amalgamated Bank grew its position in shares of Spotify Technology by 5.9% during the 2nd quarter. Amalgamated Bank now owns 9,812 shares of the company's stock valued at $3,079,000 after buying an additional 548 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in Spotify Technology by 11.5% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,728 shares of the company's stock worth $3,642,000 after acquiring an additional 1,212 shares during the period. Finally, Hsbc Holdings PLC lifted its holdings in Spotify Technology by 400.2% in the second quarter. Hsbc Holdings PLC now owns 94,808 shares of the company's stock worth $29,590,000 after acquiring an additional 75,855 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Price Performance

Shares of NYSE:SPOT traded down $4.27 during midday trading on Friday, reaching $486.07. The company's stock had a trading volume of 2,021,276 shares, compared to its average volume of 1,296,667. The business's fifty day simple moving average is $468.82 and its 200-day simple moving average is $389.39. Spotify Technology S.A. has a fifty-two week low of $200.81 and a fifty-two week high of $506.47. The company has a market capitalization of $96.75 billion, a P/E ratio of 132.08 and a beta of 1.62.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($0.30). The company 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 revenue for the quarter was up 18.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.36 EPS. On average, analysts forecast that Spotify Technology S.A. will post 5.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SPOT shares. Morgan Stanley raised their target price on Spotify Technology from $430.00 to $460.00 and gave the company an "overweight" rating in a research note on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Spotify Technology from $430.00 to $440.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. Pivotal Research raised their price target on shares of Spotify Technology from $510.00 to $565.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Barclays increased their price objective on Spotify Technology from $385.00 to $475.00 and gave the stock an "overweight" rating in a report on Wednesday, November 13th. Finally, Piper Sandler lifted their target price on Spotify Technology from $330.00 to $450.00 and gave the company a "neutral" rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $441.21.

About Spotify Technology

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.