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On April 17, 2023, Legato Capital Management LLC made a significant step towards its investment in Spotify Technology SA (NYSE: SPOT). The company successfully acquired new shares worth about $732,000 in the fourth quarter of the previous year, according to his 13F Forms recently filed with the U.S. Securities and Exchange Commission (SEC).
This move by Legato Capital Management LLC comes as no surprise to those who have followed the latest market trends in the music streaming industry. As consumers shift their focus from physical sales to digital subscription services, companies like Spotify are becoming an increasingly attractive investment opportunity for companies like Legato.
Spotify Technology SA is currently trading on the NYSE SPOT at $134.74 per share, with a 50-day MA of $126.45 and a 200-day MA of $99.55. Over the past year, the stock has fluctuated from a low of $69.29 to a high of $138.74.
Prospective investors keen to monitor such developments regarding this particular security analysis should consult the 13th filing filed by HoldingsChannel.com and hedge funds, which frequently provide updates on insider trading activity. We recommend that you keep an eye out for platform resources such as and other large institutional investors as well.
In conclusion, Spotify’s stock buybacks from companies such as Legato Capital Management LLC only suggest that they could prove profitable down the road for all parties moving forward in the next few years. Technologies SA appears to be in a promising financial position. Within the music streaming subsector across the larger tech industry.
Institutional Investors and Hedge Funds Show Interest in Spotify Technology SA
Spotify Technology SA, a global digital music service, has attracted the attention of hedge funds and institutional investors. Various companies have recently changed their status within the company, and some have significantly increased their stakes. For example, First Manhattan Co. grew his position by 65.8% in the first quarter and now owns 252 of his shares worth $38,000. Kestra Advisory Services LLC also raised his stake by 2.3% and now owns 5,757 shares of him worth $497,000. CI Investments Inc. raised his 1.7%, owning 7,947 shares of him worth $686,000.
In addition to these investors, Titleist Asset Management LTD increased its stock by 0.3% and bought another 136 shares in the fourth quarter of last year, and now owns 41,326 shares worth a whopping $3,263,000. Finally, Geneos Wealth Management Inc. increased his position in Spotify technology by 7.3% during the last quarter and owns 2,023 shares of him worth $160,000.
The most recent buy-in was initiated because these institutional investors saw Spotify as an attractive investment opportunity and a promising company moving forward.
Bloomberg.com’s report, compiled from seven analysts covering Spotify Technology SA, found 15 rated it a ‘buy’ and seven rated it a ‘hold’, making the stock more attractive to existing investors. shows bullish sentiment on the potential return of
Spotify Technology SA (NYSE:SPOT), since its inception almost 20 years ago, provides easy access to a network of digital music services through the premium segment of mobile devices, offering unlimited service to music fans around the world. In doing so, he has made a significant contribution to transforming the music industry. High quality streaming access to both online and offline music and podcasts.
Earnings of $3.23 billion in Q4 2022, despite facing difficult financial headwinds including low earnings per share ($1.43), sell-side analyst expects the company to continue to have a favorable long-term outlook. Increase the return potential for further investment. We offer competitive pricing and subscriptions to give users customized access to their favorite media content. Hedge funds and other institutional investors currently own his 52.80% stake in Spotify Technology.
Investors looking to start or increase their stake in Spotify technology should refer to the latest 13F filings and insider trading information on HoldingsChannel.com to see how many upcoming SPOTs maintain a strong foothold in the digital music industry. You can track your yearly status.
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