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The New York State Common Retirement Fund increased its stake in Spotify Technology SA (NYSE:SPOT – Get Rating) by 1.3% in the fourth quarter, according to its latest 13F filing with the Securities and Exchange Commission (SEC). The fund owned his 158,625 shares of the company’s stock after acquiring an additional 2,059 shares during the quarter. The New York State Common Retirement Fund held his 0.08% stake in Spotify Technology worth $12,523,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also increased or decreased their stakes in SPOT recently. Kistler Tiffany Companies LLC held his 369.2% stake in Spotify Technology in the fourth quarter. Kistler Tiffany Companies LLC now owns 2,989 shares of the company worth $236,000 after he purchased an additional 2,352 shares during the period. Trellus Management Company LLC increased its stake in Spotify technology by 100.0% in the fourth quarter. Trellus Management Company LLC owns 10,000 of his shares worth $790,000 after purchasing an additional 5,000 of his shares during this period. Exchange Traded Concepts LLC increased its position in Spotify technology stock by 31.9% in the fourth quarter. Exchange Traded Concepts LLC now owns 3,550 shares worth $280,000 after purchasing an additional 858 shares during the previous quarter. The State of Michigan Retirement System increased its stake in Spotify Technology by 14.7% in the fourth quarter. The State of Michigan Retirement System now owns 110,031 shares of the company stock worth $8,687,000 after purchasing an additional 14,100 shares during this period. Finally, Summit Place Financial Advisors LLC increased its Spotify Technology stock position by 8.4% in the fourth quarter. Summit Place Financial Advisors LLC now owns 7,425 shares worth $586,000 after acquiring an additional 575 shares last quarter. Currently 52.80% of the shares are owned by institutional investors and hedge funds.
Wall Street analyst opinion
SPOT has been the topic of several analyst reports. Rosenblatt Securities raised Spotify Technology’s target price from $87.00 to $110.00, giving the company a “neutral” rating in its report on Wednesday, February 1. UBS Group lowered its price target for Spotify technology stock to $100.00 from $142.00 in a research report on Thursday, January 5. Bank of America raised its price target on Spotify technology stock to $143.00 from $120.00 in his report on Friday, March 10. Guggenheim said in a report on Wednesday, March 22, that he upgraded Spotify Technology from a “neutral” rating to a “buy” rating and raised its price target to $155.00 from $120.00. Finally, Morgan Stanley raised his price target for Spotify Technology from $105.00 to $130.00, giving the company an “Overweight” rating in its research notes on Wednesday, February 1. Seven equity research analysts rated the stock as a hold and 15 rated the company as a buy. Based on MarketBeat data, the company’s consensus rating is “moderate buy” with an average target price of $135.67.
Spotify Technology Stock Performance
SPOT shares Thursday opened at $133.56. His 50-day simple moving average for this business is $127.05 and his 200-day simple moving average is $100.45. The company has a market capitalization of $25.82 billion, a P/E ratio of -43.22 and a beta of 1.76. Spotify Technology SA has a 52-week low of $69.29 and a 52-week high of $136.73.
Spotify Technology (NYSE:SPOT – Get Rating) last reported financial results on Tuesday, Jan. 31. The company reported his earnings per share (EPS) for the quarter ($1.43), missing consensus expectations ($1.28) ($0.15). The company’s earnings for the quarter were $3.23 billion, compared to analyst estimates of $3.26 billion. Spotify Technology had a net profit margin of 3.48% and a return on equity of 17.78%. As a group, sell-side analysts expect Spotify Technology SA to post earnings per share of -2.52 for the current financial 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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