595 Shares in Spotify Technology S.A. (NYSE:SPOT) Purchased by Alpha Family Trust

Alpha Family Trust bought a new position in shares of Spotify Technology S.A. (NYSE:SPOT) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 595 shares of the company’s stock, valued at approximately $219,000.

A number of other hedge funds also recently bought and sold shares of SPOT. GQG Partners LLC acquired a new stake in Spotify Technology in the 1st quarter valued at about $610,040,000. Swedbank AB acquired a new stake in Spotify Technology in the 1st quarter valued at about $198,663,000. WCM Investment Management LLC raised its position in Spotify Technology by 18.5% in the 3rd quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock valued at $1,430,142,000 after purchasing an additional 605,755 shares in the last quarter. International Assets Investment Management LLC raised its position in Spotify Technology by 36,910.0% in the 3rd quarter. International Assets Investment Management LLC now owns 347,524 shares of the company’s stock valued at $128,073,000 after purchasing an additional 346,585 shares in the last quarter. Finally, Sei Investments Co. raised its position in Spotify Technology by 106.8% in the 2nd quarter. Sei Investments Co. now owns 646,380 shares of the company’s stock valued at $202,828,000 after purchasing an additional 333,782 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on SPOT shares. DZ Bank upgraded Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 price objective on the stock in a report on Wednesday, July 24th. Guggenheim increased their price objective on Spotify Technology from $400.00 to $420.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Morgan Stanley increased their price objective on Spotify Technology from $430.00 to $460.00 and gave the company an “overweight” rating in a report on Wednesday. Barclays increased their price objective on Spotify Technology from $385.00 to $475.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Phillip Securities reiterated an “accumulate” rating and issued a $485.00 price objective (up previously from $420.00) on shares of Spotify Technology in a report on Wednesday. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, Spotify Technology currently has a consensus rating of “Moderate Buy” and an average price target of $421.69.

Spotify Technology Stock Down 4.0 %

Shares of NYSE:SPOT opened at $458.32 on Friday. Spotify Technology S.A. has a 52-week low of $170.62 and a 52-week high of $489.69. The stock’s fifty day simple moving average is $378.15 and its 200-day simple moving average is $338.24. The company has a market capitalization of $91.23 billion, a P/E ratio of 124.54 and a beta of 1.56.

Spotify Technology (NYSE:SPOT) last released 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 business had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.03 billion. Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The business’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 earnings per share. On average, sell-side analysts anticipate that Spotify Technology S.A. will post 6.09 earnings per share for the current 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.