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The Alaska Department of Revenue reduced its holding of Spotify Technology SA (NYSE:SPOT – Get Rating) by 5.6% in the fourth quarter, according to its latest 13F filing with the SEC. The fund owned 25,634 shares of the company after selling 1,525 of his shares during the quarter. Spotify technology assets held by the Alaska Department of Revenue were valued at $2,023,000 at the end of the most recent quarter.
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Several other hedge funds and other institutional investors also buy and sell stocks. Baillie Gifford & Co. raised her stake in Spotify Technology by 6.7% in the third quarter. Baillie Gifford & Co. now owns 27,964,517 shares of the company worth $2,413,338,000 after he purchased an additional 1,764,880 shares during the previous quarter. BlackRock Inc. raised his stake in Spotify Technology by 20.2% in the third quarter. BlackRock Inc. now owns 4,214,562 shares worth $363,717,000 after purchasing an additional 707,653 shares last quarter. Samling Capital LLC increased his stake in Spotify Technology shares by 394.4% in the third quarter. Samlyn Capital LLC now owns 453,792 shares of the company stock valued at $39,162,000 after purchasing an additional 362,003 shares during this period. Renaissance Technologies LLC increased its stake in Spotify Technology by 135.4% in the second quarter. Renaissance Technologies LLC owns 591,700 shares of the company stock valued at $55,519,000 after purchasing an additional 340,300 shares in the previous quarter. Finally, Alecta Tjanstepension Omsesidigt increased its stake in Spotify technology shares by 9.0% in the third quarter. Alecta Tjanstepension Omsesidigt now owns 3,035,600 shares of the company worth $261,790,000 after acquiring a further 250,000 shares during this period. Institutional investors own 52.80% of the company’s shares.
Wall Street analyst opinion
Several brokerage firms publish reports on SPOT. Barclays has raised its price target on Spotify Technology from $131.00 to $145.00, giving it an Overweight rating in its research report on Wednesday, February 1st. Wells Fargo & Company upgraded Spotify Technology’s stock from an “equal weight” rating to an “overweight” rating and raised the company’s price target from $121.00 to $180.00 in a research report on Monday, February 6. UBS Group lowered its price target on Spotify technology stock to $100.00 from $142.00 in a research report on Thursday, January 5. Jefferies Financial Group downgraded Spotify Technology’s stock from a ‘buy’ rating to a ‘hold’ rating and lowered the company’s price target from $115.00 to $95.00 in a research report on Thursday, January 12. Finally, KeyCorp raised its price target on Spotify Technology from $125.00 to $140.00, giving it an “overweight” rating in its report on Wednesday, February 1st. Seven equity research analysts rated the stock with a hold rating and 14 issued a buy rating on the stock. Based on MarketBeat.com data, the company’s current consensus rating is “moderate buy” with a consensus target price of $132.78.
Spotify Technology Stock Performance
SPOT opened Friday at $128.30. The stock has a market capitalization of $24.8 billion, a price/earnings ratio of -41.52, and a beta of 1.75. Spotify Technology SA has a 52-week low of $69.29 and a 52-week high of $160.06. The company has a 50-day moving average of $117.68 and a 200-day moving average of $96.08.
Spotify Technology (NYSE:SPOT – Get Rating) last published its quarterly earnings data on Tuesday, January 31st. The company reported his earnings per share ($1.43) for the quarter. This is off ($0.15) from analyst consensus expectations ($1.28). The company posted $3.23 billion in revenue for the quarter, compared to analysts’ expectations of $3.26 billion. Spotify Technology had a net profit margin of 3.48% and a return on equity of 17.78%. On average, equity research analysts expect Spotify Technology SA to bring his earnings per share to minus 2.15 this year.
Spotify Technology Company Profile
(get rating)
Spotify Technology SA is a digital music service that gives music fans instant access to the world of music. It operates through its Premium and Ad-supported segments. The premium segment offers subscribers unlimited online and offline high-quality streaming access to music and podcasts on computers, tablets and mobile devices.
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Want to know which other hedge funds hold SPOT? Visit HoldingsChannel.com to get the latest 13F filings and insider trading from Spotify Technology SA (NYSE:SPOT – Get Rating).
This instant news alert was generated by Narrative Science Technology and MarketBeat financial data to provide our readers with the fastest and most accurate reporting. This article was reviewed by MarketBeat’s editorial team prior to publication. Send any questions or comments about this story to contact@marketbeat.com.
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