Zurich Kantner Bank increased its stake in shares of Spotify Technology SA (NYSE:SPOT – Free Report) by 8.0% in the 4th quarter, HoldingsChannel.com reports. The company purchased an additional 109 shares during the period, bringing the total stake to 1,470 shares. Zurich Kantner Bank Zurich Kantner Bank's holdings in Spotify Technology stock were worth $276,000 at the time of its latest SEC filing.
Several other hedge funds and institutional investors also bought and sold SPOT stock. Private Trust Co. NA increased its stake in Spotify Technology by 18.4% in the 4th quarter. Private Trust Co. NA now owns 367 shares of the company's stock valued at $69,000 after purchasing an additional 57 shares during the period. Ieq Capital LLC increased its stake in Spotify Technology by 0.3% in the 3rd quarter. Ieq Capital LLC now owns 24,540 shares of the company's stock valued at $3,795,000 after purchasing an additional 85 shares during the period. Everhart Financial Group Inc. increased its ownership in Spotify Technology by 5.1% in the 3rd quarter. Everhart Financial Group Inc. now owns 2,151 shares of the company's stock valued at $333,000 after purchasing an additional 105 shares during the period. Orion Portfolio Solutions LLC increased its position in shares of Spotify Technology by 7.8% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 1,457 shares of the company's stock valued at $225,000 after purchasing an additional 105 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its stake in shares of Spotify Technology by 195.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 177 shares of the company's stock valued at $27,000 after purchasing an additional 117 shares during the period. Hedge funds and other institutional investors own 84.09% of the company's stock.
Spotify Technology trades up 0.6%
NYSE:SPOT began trading at $296.07 on Monday. Spotify Technology SA has a 12-month low of $129.23 and a 12-month high of $319.30. The company has a market capitalization of $56.31 billion, a P/E ratio of -441.89 and a beta of 1.61. The company's 50 day moving average is $275.53 and its 200 day moving average is $224.21.
Spotify Technology (NYSE:SPOT – Get Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.63 by $0.42. Spotify Technology had a net margin of -0.80% and a return on equity of -4.39%. The business had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.87 billion. In the same period last year, the company posted earnings of $1.24 per share. As a group, analysts expect Spotify Technology SA's EPS for the current fiscal year to be 4.78.
Analyst rating changes
Several research analysts have recently commented on SPOT stock. JPMorgan Chase & Co. raised their target price on shares of Spotify Technology from $320.00 to $365.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 24th. TheStreet upgraded shares of Spotify Technology from a “d+” rating to a “c-” rating in a research report on Friday, February 9th. Benchmark increased their target price on Spotify Technology from $325.00 to $375.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. KeyCorp increased their target price on Spotify Technology from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Finally, UBS Group increased their target price on Spotify Technology from $274.00 to $375.00 and gave the company a “buy” rating in a research report on Friday, April 5th. 8 research analysts have rated the stock with a hold rating and 19 have issued a buy rating to the stock. According to data from MarketBeat.com, Spotify Technology currently has an average rating of “Moderate Buy” and an average price target of $301.81.
Read our latest analysis on Spotify Technology
Spotify Technology Profile
(Free report)
Spotify Technology SA, together with its subsidiaries, provides audio streaming subscription services throughout the world. It operates through two segments: premium and ad-supported. The Premium segment offers subscribers unlimited online and offline streaming access to a catalog of music and podcasts without commercial interruptions.
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Curious if other hedge funds own SPOT? Visit HoldingsChannel.com to get the latest 13F filing and insider transactions for Spotify Technology SA (NYSE:SPOT – Free Report).
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