Gateway Investment Advisers LLC increased its stake in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 630.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,277 shares of the company's stock after buying an additional 7,144 shares during the period. Gateway Investment Advisers LLC's holdings in Spotify Technology were worth $3,703,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Hamilton Lane Advisors LLC acquired a new stake in Spotify Technology in the fourth quarter valued at $3,344,000. CHURCHILL MANAGEMENT Corp acquired a new stake in Spotify Technology in the 4th quarter valued at about $2,311,000. Rockingstone Advisors LLC increased its holdings in Spotify Technology by 0.5% during the 4th quarter. Rockingstone Advisors LLC now owns 8,978 shares of the company's stock valued at $4,017,000 after acquiring an additional 45 shares in the last quarter. Park Avenue Securities LLC raised its position in Spotify Technology by 45.3% during the fourth quarter. Park Avenue Securities LLC now owns 5,062 shares of the company's stock worth $2,264,000 after acquiring an additional 1,578 shares during the last quarter. Finally, Kathmere Capital Management LLC lifted its holdings in shares of Spotify Technology by 75.8% in the fourth quarter. Kathmere Capital Management LLC now owns 1,023 shares of the company's stock valued at $458,000 after purchasing an additional 441 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on SPOT. Morgan Stanley raised their price objective on shares of Spotify Technology from $430.00 to $460.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 13th. The Goldman Sachs Group raised their price target on Spotify Technology from $490.00 to $550.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. JPMorgan Chase & Co. upped their price objective on Spotify Technology from $425.00 to $530.00 and gave the company an "overweight" rating in a research report on Wednesday, November 13th. Macquarie lifted their price objective on Spotify Technology from $395.00 to $500.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 13th. Finally, Pivotal Research upped their target price on shares of Spotify Technology from $510.00 to $565.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $441.21.
Get Our Latest Stock Analysis on Spotify Technology
Spotify Technology Trading Down 0.9 %
NYSE:SPOT traded down $4.27 during mid-day trading on Friday, hitting $486.07. The company had a trading volume of 2,021,276 shares, compared to its average volume of 1,296,667. The business has a fifty day simple moving average of $468.82 and a 200-day simple moving average of $389.39. The firm has a market capitalization of $96.75 billion, a price-to-earnings ratio of 132.08 and a beta of 1.62. Spotify Technology S.A. has a 1 year low of $200.81 and a 1 year high of $506.47.
Spotify Technology (NYSE:SPOT - Get Free Report) last announced its earnings results on Tuesday, November 12th. The company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.30). The company had revenue of $3.99 billion for the quarter, compared to analysts' expectations of $4.03 billion. Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The business's quarterly revenue was up 18.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 earnings per share. As a group, research analysts anticipate that Spotify Technology S.A. will post 5.96 earnings per share for the current year.
Spotify Technology Profile
(
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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