River Global Investors LLP Has $3.32 Million Stake in Spotify Technology S.A. (NYSE:SPOT)

River Global Investors LLP reduced its holdings in Spotify Technology S.A. (NYSE:SPOT) by 10.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,682 shares of the company’s stock after selling 2,152 shares during the quarter. River Global Investors LLP’s holdings in Spotify Technology were worth $3,323,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. First Horizon Advisors Inc. grew its holdings in Spotify Technology by 195.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 177 shares of the company’s stock worth $27,000 after acquiring an additional 117 shares during the last quarter. Pinnacle Bancorp Inc. bought a new stake in shares of Spotify Technology during the fourth quarter valued at approximately $29,000. GAMMA Investing LLC bought a new position in Spotify Technology in the 4th quarter worth approximately $32,000. Lindbrook Capital LLC lifted its holdings in Spotify Technology by 32.3% during the 4th quarter. Lindbrook Capital LLC now owns 205 shares of the company’s stock worth $39,000 after buying an additional 50 shares in the last quarter. Finally, Beaird Harris Wealth Management LLC boosted its position in Spotify Technology by 2,540.0% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 264 shares of the company’s stock valued at $41,000 after buying an additional 254 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Stock Performance

NYSE SPOT traded up $1.90 during trading on Friday, hitting $296.07. The stock had a trading volume of 1,503,922 shares, compared to its average volume of 3,020,316. The company has a market capitalization of $56.31 billion, a PE ratio of -441.90 and a beta of 1.61. Spotify Technology S.A. has a 12 month low of $129.23 and a 12 month high of $319.30. The company’s 50-day moving average price is $274.73 and its two-hundred day moving average price is $222.27.

Spotify Technology (NYSE:SPOT) last announced its earnings results on Tuesday, April 23rd. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.63 by $0.42. Spotify Technology had a negative net margin of 0.80% and a negative return on equity of 4.39%. The business had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.87 billion. During the same quarter in the prior year, the company posted ($1.24) earnings per share. As a group, equities analysts anticipate that Spotify Technology S.A. will post 4.78 earnings per share for the current fiscal year.

Analyst Ratings Changes

SPOT has been the subject of a number of recent research reports. HSBC boosted their target price on Spotify Technology from $310.00 to $355.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Spotify Technology from $260.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Wells Fargo & Company raised their price objective on shares of Spotify Technology from $250.00 to $280.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. Barclays lifted their target price on shares of Spotify Technology from $335.00 to $350.00 and gave the stock an “overweight” rating in a report on Wednesday, April 24th. Finally, KeyCorp increased their price target on Spotify Technology from $300.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. Eight equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $301.81.

About Spotify Technology

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.