Chicago Capital LLC Has $2.23 Million Position in Spotify Technology S.A. (NYSE:SPOT)

Chicago Capital LLC raised its stake in Spotify Technology S.A. (NYSE:SPOT) by 81.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,990 shares of the company’s stock after buying an additional 2,234 shares during the quarter. Chicago Capital LLC’s holdings in Spotify Technology were worth $2,232,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Aigen Investment Management LP grew its stake in shares of Spotify Technology by 42.4% in the third quarter. Aigen Investment Management LP now owns 9,800 shares of the company’s stock valued at $3,612,000 after buying an additional 2,918 shares in the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new stake in Spotify Technology in the 4th quarter valued at about $214,000. Pathway Capital Management LP boosted its stake in shares of Spotify Technology by 23.8% during the 3rd quarter. Pathway Capital Management LP now owns 57,340 shares of the company’s stock worth $21,132,000 after acquiring an additional 11,042 shares during the period. Perpetual Ltd raised its stake in Spotify Technology by 24.3% in the 3rd quarter. Perpetual Ltd now owns 759,681 shares of the company’s stock valued at $279,965,000 after acquiring an additional 148,431 shares during the period. Finally, Covenant Asset Management LLC acquired a new position in shares of Spotify Technology in the third quarter valued at $3,364,000. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Price Performance

Shares of NYSE:SPOT opened at $549.02 on Monday. Spotify Technology S.A. has a 1 year low of $213.31 and a 1 year high of $560.36. The stock’s fifty day moving average price is $480.71 and its 200-day moving average price is $404.48. The company has a market cap of $109.28 billion, a P/E ratio of 149.19 and a beta of 1.63.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings data on Tuesday, November 12th. The company reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($0.30). Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The company had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $4.03 billion. During the same period in the previous year, the firm earned $0.36 earnings per share. The firm’s revenue for the quarter was up 18.8% on a year-over-year basis. On average, sell-side analysts anticipate that Spotify Technology S.A. will post 5.91 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SPOT shares. Pivotal Research boosted their price objective on Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. The Goldman Sachs Group lifted their price target on shares of Spotify Technology from $490.00 to $550.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. raised their price objective on Spotify Technology from $425.00 to $530.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Finally, Morgan Stanley increased their target price on shares of Spotify Technology from $430.00 to $460.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $451.39.

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.