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Veriti Management LLC increased its stake in Spotify Technology SA (NYSE:SPOT – Get Rating) by 34.7% in the fourth quarter, according to the latest 13F filings with the Securities and Exchange Commission. The company owned 4,899 shares after acquiring another 1,262 shares during the quarter. Veriti Management LLC’s stake in Spotify Technology was valued at $387,000 as of its latest filing with the Securities and Exchange Commission.
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Many other hedge funds have also recently increased or decreased their equity stakes. First Manhattan Co. increased his position in Spotify technology by 65.8% in the first quarter. After acquiring an additional 100 shares during this period, First Manhattan Co. now owns 252 shares of the company stock valued at $38,000. Kestra Advisory Services LLC increased his stake in Spotify technology stock by 2.3% in the third quarter. Kestra Advisory Services LLC now owns 5,757 shares worth $497,000 after purchasing an additional 129 shares during this period. CI Investments Inc. increased his stake in Spotify Technology by 1.7% in the third quarter. CI Investments Inc. now owns 7,947 shares worth $686,000 after purchasing an additional 132 shares during this period. Quadrant Capital Group LLC increased its stake in Spotify Technology by 38.8% in the second quarter. Quadrant Capital Group LLC owns 476 shares of the company, valued at $45,000, after purchasing an additional 133 shares during this period. Finally, Titleist Asset Management LTD. increased its stake in Spotify Technology by 0.3% in the fourth quarter. After purchasing an additional 136 shares during the period, Titleist Asset Management Ltd. now owns 41,326 shares of the company, valued at $3,263,000. 52.80% of the shares are owned by institutional investors and hedge funds.
Wall Street Analyst Predicts Growth
Several research firms have recently joined SPOT. Morgan Stanley raised its price target for the Spotify technology from her $105.00 to her $130.00 in her research notes on Wednesday, Feb. 1, giving the company an “overweight” rating. Benchmark raised its price target on Spotify Technology from her $125.00 to her $130.00 in her Monday, January 30 research report, giving the stock a “buy” rating. Barclays raised its price target on Spotify technology from $131.00 to $145.00, giving the stock an “overweight” rating, in its research report on Wednesday, February 1. Piper Sandler increased the price target for Spotify Technology from her $87.00 to her $105.00 in a report on Tuesday, January 31st. Finally, KeyCorp raised her Spotify Technology stock price target from $125.00 to $140.00, giving it an “Overweight” rating in its report on Wednesday, February 1. Seven Research Her analysts gave the stock a hold rating and 14 assigned a buy rating. According to MarketBeat, the stock has an average rating of “moderate buy” and a consensus price target of $132.78.
Price performance of Spotify technology
SPOT shares opened at $133.62 on Monday. Spotify Technology SA has a 12-month low of $69.29 and a 12-month high of $160.06. His 50-day simple moving average for this business is $121.36 and his 200-day simple moving average is $96.86.
Spotify Technology (NYSE:SPOT – Get Rating) last released its quarterly earnings data on Tuesday, January 31. The company reported his earnings per share ($1.43) for the quarter, missing consensus expectations ($1.28) ($0.15). The company’s revenue for the quarter was $3.23 billion, compared to consensus expectations of $3.26 billion. Spotify Technology’s return on equity was 17.78% and net profit margin was 3.48%. Equity research analysts expect Spotify Technology SA to see his EPS of -2.52 this year.
About Spotify Technology
(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.
References
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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