Pensera Capital Management LLC increased its equity stake in Spotify Technology SA (NYSE:SPOT – Get Rating) by 44.8% in the fourth quarter, according to the company’s latest filings with the Securities and Exchange Commission. . The fund held 25,797 shares after purchasing an additional 7,987 shares during the period. Penserra Capital Management LLC’s stake in Spotify Technology was valued at $2,035,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and institutional investors have also recently bought and sold shares in the company. Riverview Trust Co increased its position in Spotify Technology stock by 162.6% in the fourth quarter. Riverview Trust Co acquired an additional 213 shares last quarter and now owns 344 shares of the company worth $27,000. Stonebridge Capital Advisors LLC increased his Spotify Technology shareholding by 1,300.0% during the third quarter. Stonebridge Capital Advisors LLC purchased an additional 325 shares last quarter and now owns 350 shares of the company worth $30,000. Neo Ivy Capital Management increased its position in Spotify Technology stock by 87.6% in the third quarter. Neo Ivy Capital Management purchased an additional 169 shares last quarter and now owns 362 shares of the company worth $31,000. First Manhattan Company increased its stake in Spotify Technology by 65.8% in the first quarter. First Manhattan purchased an additional 100 shares last quarter and now owns 252 shares of the company, valued at $38,000. Finally, EverSource Wealth Advisors LLC increased its position in Spotify technology by 471.0% during the fourth quarter. EverSource Wealth Advisors LLC acquired an additional 471 shares during the last quarter and now owns 571 shares worth $45,000. 52.80% of the shares are owned by hedge funds and other institutional investors.
Price performance of Spotify technology
The spot stock opened at $150.58 on Tuesday. His 50-day moving average for this company is $141.86 and his 200-day moving average is $117.17. The company has a market cap of $28.64 billion, a P/E of -32.95 and a beta of 1.76. Spotify Technology SA hit a one-year low of $69.29 and a one-year high of $157.13.
Spotify Technology (NYSE:SPOT – Get Rating) last reported earnings on Tuesday, April 25th. The company reported earnings per share ($1.24) for the quarter, but ($0.23) below consensus expectations ($1.01). Spotify Technology had a net profit margin of 6.49% and a negative return on equity of 33.54%. The company’s revenue for the quarter was $3.26 billion, compared with analysts’ expectations of $3.39 billion. On average, analysts expect Spotify Technology SA’s EPS to be -3.02 this year.
Analysts set new price target
Many research analysts have expressed their opinions on the SPOT stock. Trust Financial raised its price target on Spotify Technology stock to $154.00 from $132.00 in a research note on Tuesday, April 18, giving the stock a Buy rating. Deutsche Bank Aktiengesellschaft raised its target price for Spotify technology from $115.00 to $130.00 in a research note on Monday, April 24. Guggenheim raised its price target for Spotify Technology from $165.00 to $180.00 in a research note on Tuesday, May 23. Rosenblatt Securities raised its price target on Spotify Technology stock to $141.00 from $110.00 in a research report on Tuesday, May 2. Finally, Benchmark raised its price target on Spotify Technology stock from $140.00 to $150.00, giving the company a “buy” rating in its report on Friday, April 21. Seven research analysts rate the stock as a hold, while 14 rate it as a buy. Based on MarketBeat data, the company has an average rating of “Moderate Buy” and a consensus price target of $144.38.
Spotify Technology Company Profile
Spotify Technology SA is a digital music service that gives music fans instant access to the world of music. It operates through premium and ad-supported segments. The premium segment offers subscribers unlimited online and offline high-quality streaming access to music and podcasts on his devices, computer, tablet and mobile.
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