Weiss Asset Management LP Acquires 7,344 Shares of Spotify Technology S.A. (NYSE:SPOT)

Weiss Asset Management LP lifted its holdings in shares of Spotify Technology S.A. (NYSE:SPOTFree Report) by 360.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,379 shares of the company’s stock after acquiring an additional 7,344 shares during the quarter. Weiss Asset Management LP’s holdings in Spotify Technology were worth $1,762,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP grew its stake in Spotify Technology by 61.7% in the third quarter. Wellington Management Group LLP now owns 2,970,540 shares of the company’s stock worth $459,364,000 after purchasing an additional 1,133,305 shares during the period. Schroder Investment Management Group grew its stake in Spotify Technology by 303.4% in the third quarter. Schroder Investment Management Group now owns 1,315,289 shares of the company’s stock worth $203,396,000 after purchasing an additional 989,243 shares during the period. Artisan Partners Limited Partnership grew its stake in Spotify Technology by 194.7% in the third quarter. Artisan Partners Limited Partnership now owns 1,123,078 shares of the company’s stock worth $173,673,000 after purchasing an additional 741,955 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Spotify Technology by 16.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,699,008 shares of the company’s stock worth $572,015,000 after purchasing an additional 523,237 shares during the period. Finally, Norges Bank purchased a new stake in Spotify Technology in the fourth quarter worth $92,429,000. Institutional investors own 84.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SPOT. Wells Fargo & Company increased their target price on Spotify Technology from $250.00 to $280.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. Raymond James increased their target price on Spotify Technology from $260.00 to $320.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. UBS Group increased their target price on Spotify Technology from $274.00 to $375.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. The Goldman Sachs Group increased their target price on Spotify Technology from $277.00 to $317.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Finally, HSBC increased their price objective on Spotify Technology from $310.00 to $355.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Eight research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $306.42.

Check Out Our Latest Stock Report on Spotify Technology

Spotify Technology Stock Down 0.6 %

NYSE SPOT traded down $1.99 during trading on Thursday, hitting $305.53. 326,275 shares of the stock traded hands, compared to its average volume of 1,998,002. Spotify Technology S.A. has a 12-month low of $129.23 and a 12-month high of $319.30. The company has a market capitalization of $58.11 billion, a P/E ratio of -458.98 and a beta of 1.61. The firm has a 50-day simple moving average of $290.62 and a 200-day simple moving average of $241.10.

Spotify Technology (NYSE:SPOTGet Free Report) last issued its earnings results on Tuesday, April 23rd. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.42. The business had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.87 billion. Spotify Technology had a negative return on equity of 4.39% and a negative net margin of 0.80%. During the same period in the previous year, the company posted ($1.24) EPS. As a group, research analysts predict that Spotify Technology S.A. will post 4.78 EPS for the current fiscal year.

Spotify Technology Company Profile

(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.

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

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