2,133 Shares in Spotify Technology S.A. (NYSE:SPOT) Bought by Headlands Technologies LLC

Headlands Technologies LLC acquired a new position in shares of Spotify Technology S.A. (NYSE:SPOT) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,133 shares of the company’s stock, valued at approximately $401,000.

Several other hedge funds and other institutional investors have also modified their holdings of SPOT. First Horizon Advisors Inc. raised its holdings in Spotify Technology by 195.0% during the third quarter. First Horizon Advisors Inc. now owns 177 shares of the company’s stock valued at $27,000 after buying an additional 117 shares in the last quarter. Pinnacle Bancorp Inc. bought a new position in Spotify Technology during the fourth quarter valued at about $29,000. GAMMA Investing LLC bought a new position in Spotify Technology during the fourth quarter valued at about $32,000. Lindbrook Capital LLC raised its holdings in Spotify Technology by 32.3% during the fourth quarter. Lindbrook Capital LLC now owns 205 shares of the company’s stock valued at $39,000 after buying an additional 50 shares in the last quarter. Finally, Beaird Harris Wealth Management LLC grew its position in shares of Spotify Technology by 2,540.0% in the third quarter. Beaird Harris Wealth Management LLC now owns 264 shares of the company’s stock valued at $41,000 after purchasing an additional 254 shares during the last quarter. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SPOT has been the topic of a number of recent research reports. Wells Fargo & Company lifted their target price on Spotify Technology from $250.00 to $280.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. Canaccord Genuity Group lifted their price objective on Spotify Technology from $315.00 to $330.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Guggenheim lifted their price objective on Spotify Technology from $290.00 to $350.00 and gave the company a “buy” rating in a report on Wednesday. Bank of America lifted their price objective on Spotify Technology from $315.00 to $370.00 and gave the company a “buy” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. lifted their target price on shares of Spotify Technology from $320.00 to $365.00 and gave the company an “overweight” rating in a research note on Wednesday. Eight equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Spotify Technology presently has a consensus rating of “Moderate Buy” and an average price target of $301.81.

Spotify Technology Price Performance

NYSE:SPOT traded up $0.57 on Friday, hitting $289.59. 2,477,228 shares of the company’s stock were exchanged, compared to its average volume of 3,137,877. The firm has a 50-day moving average price of $271.48 and a 200-day moving average price of $218.66. Spotify Technology S.A. has a 52 week low of $128.67 and a 52 week high of $319.30. The company has a market cap of $57.43 billion, a P/E ratio of -432.35 and a beta of 1.63.

Spotify Technology (NYSE:SPOT) last issued its earnings results on Tuesday, April 23rd. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.42. The company had revenue of $3.95 billion for the quarter, compared to analysts’ expectations 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 prior year, the firm earned ($1.24) EPS. On average, research analysts expect that Spotify Technology S.A. will post 4.02 earnings per share 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.