11,730 Shares in Spotify Technology S.A. (NYSE:SPOT) Bought by Oak Ridge Investments LLC

Oak Ridge Investments LLC bought a new stake in Spotify Technology S.A. (NYSE:SPOT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,730 shares of the company’s stock, valued at approximately $5,248,000.

A number of other hedge funds have also made changes to their positions in the company. Prestige Wealth Management Group LLC acquired a new position in shares of Spotify Technology during the 3rd quarter worth approximately $26,000. Benjamin Edwards Inc. raised its holdings in shares of Spotify Technology by 214.8% in the second quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock worth $27,000 after acquiring an additional 58 shares during the last quarter. Hobbs Group Advisors LLC purchased a new stake in shares of Spotify Technology in the third quarter valued at $33,000. Larson Financial Group LLC boosted its stake in shares of Spotify Technology by 51.6% during the third quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock valued at $36,000 after acquiring an additional 33 shares during the last quarter. Finally, V Square Quantitative Management LLC acquired a new position in Spotify Technology in the 3rd quarter valued at about $40,000. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Trading Down 0.9 %

Shares of SPOT stock opened at $486.07 on Friday. The firm has a fifty day simple moving average of $468.82 and a 200-day simple moving average of $389.39. The company has a market capitalization of $96.75 billion, a PE ratio of 132.08 and a beta of 1.62. Spotify Technology S.A. has a twelve month low of $200.81 and a twelve month high of $506.47.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings data 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 net margin of 4.66% and a return on equity of 19.07%. The firm had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.03 billion. During the same period in the previous year, the company earned $0.36 earnings per share. The business’s quarterly revenue was up 18.8% on a year-over-year basis. Equities research analysts predict that Spotify Technology S.A. will post 5.96 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on SPOT shares. Wolfe Research reiterated a “peer perform” rating on shares of Spotify Technology in a report on Friday. The Goldman Sachs Group increased their price target on Spotify Technology from $490.00 to $550.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Barclays lifted their price objective on Spotify Technology from $385.00 to $475.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. increased their target price on Spotify Technology from $425.00 to $530.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $340.00 price objective on shares of Spotify Technology in a research note on Monday, October 7th. One equities research 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $441.21.

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.