Empirical Asset Management LLC Takes Position in Spotify Technology S.A. (NYSE:SPOT)

Empirical Asset Management LLC purchased a new stake in shares of Spotify Technology S.A. (NYSE:SPOTFree Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 42,863 shares of the company’s stock, valued at approximately $19,176,000.

Several other institutional investors have also made changes to their positions in the company. Ritholtz Wealth Management lifted its holdings in shares of Spotify Technology by 27.6% during the 4th quarter. Ritholtz Wealth Management now owns 5,736 shares of the company’s stock valued at $2,566,000 after buying an additional 1,241 shares during the last quarter. Gateway Investment Advisers LLC raised its stake in shares of Spotify Technology by 630.5% in the 4th quarter. Gateway Investment Advisers LLC now owns 8,277 shares of the company’s stock valued at $3,703,000 after acquiring an additional 7,144 shares in the last quarter. Hamilton Lane Advisors LLC bought a new position in shares of Spotify Technology in the 4th quarter valued at approximately $3,344,000. CHURCHILL MANAGEMENT Corp bought a new position in shares of Spotify Technology in the 4th quarter valued at approximately $2,311,000. Finally, Rockingstone Advisors LLC raised its stake in shares of Spotify Technology by 0.5% in 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. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Trading Down 0.1 %

Shares of NYSE:SPOT opened at $490.08 on Friday. The business’s 50 day moving average is $465.30 and its 200-day moving average is $387.49. The firm has a market capitalization of $97.55 billion, a PE ratio of 133.17 and a beta of 1.62. Spotify Technology S.A. has a 1-year low of $191.88 and a 1-year high of $506.47.

Spotify Technology (NYSE:SPOTGet Free Report) last announced its quarterly 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 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%. Spotify Technology’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 EPS. On average, sell-side analysts predict that Spotify Technology S.A. will post 5.96 EPS for the current year.

Analyst Upgrades and Downgrades

SPOT has been the topic of a number of recent analyst reports. Phillip Securities reissued an “accumulate” rating and issued a $485.00 price objective (up from $420.00) on shares of Spotify Technology in a research note on Wednesday, November 13th. KeyCorp raised their price objective on Spotify Technology from $520.00 to $555.00 and gave the company an “overweight” rating in a research note on Friday, January 10th. Barclays raised their price objective on Spotify Technology from $385.00 to $475.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Rosenblatt Securities raised their price objective on Spotify Technology from $399.00 to $438.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, Pivotal Research raised their price objective on Spotify Technology from $510.00 to $565.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $441.21.

Read Our Latest Stock Report on SPOT

About Spotify Technology

(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.

Further Reading

Want to see what other hedge funds are holding SPOT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Spotify Technology S.A. (NYSE:SPOTFree Report).

Institutional Ownership by Quarter for Spotify Technology (NYSE:SPOT)

Receive News & Ratings for Spotify Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spotify Technology and related companies with MarketBeat.com's FREE daily email newsletter.