Gunderson Capital Management Inc. Purchases 16,880 Shares of Spotify Technology S.A. (NYSE:SPOT)

Gunderson Capital Management Inc. increased its stake in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 203.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,158 shares of the company's stock after purchasing an additional 16,880 shares during the quarter. Spotify Technology makes up approximately 5.5% of Gunderson Capital Management Inc.'s holdings, making the stock its 5th largest holding. Gunderson Capital Management Inc.'s holdings in Spotify Technology were worth $11,255,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in SPOT. Private Advisor Group LLC boosted its holdings in shares of Spotify Technology by 118.3% during the second quarter. Private Advisor Group LLC now owns 3,023 shares of the company's stock worth $949,000 after purchasing an additional 1,638 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Spotify Technology during the second quarter worth about $39,000. Daiwa Securities Group Inc. boosted its stake in Spotify Technology by 80.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 1,290 shares of the company's stock worth $405,000 after buying an additional 574 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in Spotify Technology by 9.7% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 61,077 shares of the company's stock valued at $19,233,000 after buying an additional 5,394 shares during the period. Finally, Thoroughbred Financial Services LLC acquired a new position in shares of Spotify Technology during the 2nd quarter valued at about $628,000. Institutional investors and hedge funds own 84.09% of the company's stock.

Analyst Upgrades and Downgrades

SPOT has been the topic of several research analyst reports. Cantor Fitzgerald reissued a "neutral" rating and issued a $340.00 target price on shares of Spotify Technology in a research report on Monday, October 7th. JPMorgan Chase & Co. lifted their price target on shares of Spotify Technology from $425.00 to $530.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th. Barclays upped 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. Morgan Stanley lifted their target price on Spotify Technology from $430.00 to $460.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th. Finally, Wells Fargo & Company boosted their price target on Spotify Technology from $470.00 to $520.00 and gave the company an "overweight" 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 given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $433.36.

Spotify Technology Stock Performance

Shares of NYSE SPOT traded up $4.61 during trading on Tuesday, reaching $463.15. The stock had a trading volume of 1,093,162 shares, compared to its average volume of 1,606,334. The stock has a market cap of $92.19 billion, a PE ratio of 125.86 and a beta of 1.62. Spotify Technology S.A. has a one year low of $191.88 and a one year high of $506.47. The firm's 50 day moving average price is $461.72 and its two-hundred day moving average price is $385.72.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported $1.45 earnings per share for the quarter, missing analysts' consensus estimates of $1.75 by ($0.30). Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.03 billion. During the same period last year, the company posted $0.36 earnings per share. The firm's revenue for the quarter was up 18.8% on a year-over-year basis. On average, research analysts expect that Spotify Technology S.A. will post 6.02 earnings per share for the current year.

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.