11,203 Shares in Spotify Technology S.A. (NYSE:SPOT) Bought by Vestmark Advisory Solutions Inc.

Vestmark Advisory Solutions Inc. purchased a new stake in Spotify Technology S.A. (NYSE:SPOT) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 11,203 shares of the company’s stock, valued at approximately $2,105,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its holdings in shares of Spotify Technology by 3.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 342,235 shares of the company’s stock worth $52,923,000 after buying an additional 11,876 shares during the period. Everhart Financial Group Inc. boosted its holdings in shares of Spotify Technology by 5.1% during the third quarter. Everhart Financial Group Inc. now owns 2,151 shares of the company’s stock worth $333,000 after acquiring an additional 105 shares during the period. AMF Tjanstepension AB grew its position in shares of Spotify Technology by 1.3% in the third quarter. AMF Tjanstepension AB now owns 2,025,000 shares of the company’s stock valued at $313,146,000 after purchasing an additional 25,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Spotify Technology by 4.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 66,343 shares of the company’s stock worth $10,259,000 after purchasing an additional 2,611 shares during the period. Finally, SeaBridge Investment Advisors LLC lifted its holdings in Spotify Technology by 1.6% during the 3rd quarter. SeaBridge Investment Advisors LLC now owns 24,838 shares of the company’s stock worth $3,841,000 after purchasing an additional 389 shares during the last quarter. Institutional investors own 84.09% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on SPOT. JPMorgan Chase & Co. increased their price objective on Spotify Technology from $320.00 to $365.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 24th. TheStreet raised shares of Spotify Technology from a “d+” rating to a “c-” rating in a report on Friday, February 9th. Bank of America raised their target price on shares of Spotify Technology from $315.00 to $370.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Loop Capital boosted their price target on Spotify Technology from $165.00 to $250.00 and gave the company a “hold” rating in a research note on Monday, April 22nd. Finally, Benchmark raised their price objective on Spotify Technology from $325.00 to $375.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Eight analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $301.81.

Spotify Technology Stock Performance

Shares of SPOT stock traded up $1.90 during mid-day trading on Friday, hitting $296.07. The company’s stock had a trading volume of 1,503,922 shares, compared to its average volume of 3,020,316. The company has a market cap of $56.31 billion, a PE ratio of -441.89 and a beta of 1.61. The company’s fifty day simple moving average is $275.53 and its 200-day simple moving average is $223.23. Spotify Technology S.A. has a 52 week low of $129.23 and a 52 week high of $319.30.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.42. The firm had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.87 billion. Spotify Technology had a negative return on equity of 4.39% and a negative net margin of 0.80%. During the same period in the previous year, the firm earned ($1.24) earnings per share. On average, equities analysts anticipate that Spotify Technology S.A. will post 4.78 earnings per share for the current year.

About Spotify Technology

Spotify Technology SA, together with its subsidiaries, provides audio streaming subscription services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.