Mirae Asset Global Investments Co. Ltd. Has $21.02 Million Holdings in Spotify Technology S.A. (NYSE:SPOT)

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 30.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 79,667 shares of the company’s stock after acquiring an additional 18,731 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Spotify Technology were worth $21,024,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Lindbrook Capital LLC lifted its position in Spotify Technology by 32.3% during the 4th quarter. Lindbrook Capital LLC now owns 205 shares of the company’s stock worth $39,000 after buying an additional 50 shares in the last quarter. Signaturefd LLC grew its stake in Spotify Technology by 4.4% in the fourth quarter. Signaturefd LLC now owns 1,222 shares of the company’s stock valued at $230,000 after purchasing an additional 51 shares in the last quarter. Summit Trail Advisors LLC grew its stake in Spotify Technology by 3.5% in the fourth quarter. Summit Trail Advisors LLC now owns 1,664 shares of the company’s stock valued at $313,000 after purchasing an additional 56 shares in the last quarter. Private Trust Co. NA raised its stake in shares of Spotify Technology by 18.4% during the 4th quarter. Private Trust Co. NA now owns 367 shares of the company’s stock worth $69,000 after purchasing an additional 57 shares in the last quarter. Finally, Delta Asset Management LLC TN boosted its holdings in shares of Spotify Technology by 6.7% in the 4th quarter. Delta Asset Management LLC TN now owns 960 shares of the company’s stock valued at $180,000 after buying an additional 60 shares during the last quarter. Institutional investors own 84.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SPOT shares. Morgan Stanley increased their price target on shares of Spotify Technology from $270.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. Pivotal Research lifted their price target on Spotify Technology from $390.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Macquarie raised their price objective on Spotify Technology from $300.00 to $330.00 and gave the company an “outperform” rating in a research report on Monday, April 22nd. Bank of America boosted their target price on Spotify Technology from $370.00 to $380.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Guggenheim raised their price target on Spotify Technology from $290.00 to $350.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Eight analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, Spotify Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $311.88.

Spotify Technology Stock Up 0.7 %

Shares of NYSE:SPOT traded up $2.05 during midday trading on Friday, hitting $316.85. The stock had a trading volume of 939,759 shares, compared to its average volume of 1,454,605. The company’s 50-day moving average price is $306.64 and its 200-day moving average price is $264.59. Spotify Technology S.A. has a fifty-two week low of $129.23 and a fifty-two week high of $331.08. The company has a market capitalization of $60.26 billion, a P/E ratio of -472.93, a price-to-earnings-growth ratio of 0.83 and a beta of 1.59.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.63 by $0.42. The business had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.87 billion. Spotify Technology had a negative net margin of 0.80% and a negative return on equity of 4.39%. During the same period in the previous year, the business earned ($1.24) earnings per share. Research analysts expect that Spotify Technology S.A. will post 4.96 EPS for the current fiscal year.

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.