2,133 Shares in Spotify Technology S.A. (NYSE:SPOT) Purchased by Headlands Technologies LLC

Headlands Technologies LLC purchased a new position in Spotify Technology S.A. (NYSE:SPOT) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 2,133 shares of the company’s stock, valued at approximately $401,000.

Several other institutional investors also recently bought and sold shares of SPOT. First Horizon Advisors Inc. grew its position in Spotify Technology by 195.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 177 shares of the company’s stock valued at $27,000 after purchasing an additional 117 shares during the last quarter. Pinnacle Bancorp Inc. purchased a new stake in shares of Spotify Technology during the 4th quarter valued at about $29,000. GAMMA Investing LLC purchased a new stake in shares of Spotify Technology during the 4th quarter valued at about $32,000. Lindbrook Capital LLC boosted its holdings in shares of Spotify Technology by 32.3% during the 4th quarter. Lindbrook Capital LLC now owns 205 shares of the company’s stock valued at $39,000 after acquiring an additional 50 shares during the last quarter. Finally, Beaird Harris Wealth Management LLC boosted its holdings in shares of Spotify Technology by 2,540.0% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 264 shares of the company’s stock valued at $41,000 after acquiring an additional 254 shares during the last quarter. 84.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Wells Fargo & Company raised their price target on shares of Spotify Technology from $250.00 to $280.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. UBS Group raised their price objective on shares of Spotify Technology from $274.00 to $375.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Morgan Stanley raised their price objective on shares of Spotify Technology from $270.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Pivotal Research lifted their price target on shares of Spotify Technology from $390.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. lifted their price target on shares of Spotify Technology from $320.00 to $365.00 and gave the company an “overweight” rating in a report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $301.81.

Spotify Technology Price Performance

Shares of SPOT stock traded up $0.57 during mid-day trading on Friday, hitting $289.59. 2,477,228 shares of the stock traded hands, compared to its average volume of 3,137,877. The stock has a market cap of $57.43 billion, a P/E ratio of -432.35 and a beta of 1.63. The stock’s fifty day moving average is $271.48 and its two-hundred day moving average is $218.66. Spotify Technology S.A. has a 52-week low of $128.67 and a 52-week high of $319.30.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.63 by $0.42. The firm had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.87 billion. Spotify Technology had a negative net margin of 0.80% and a negative return on equity of 4.39%. During the same period last year, the firm posted ($1.24) EPS. As a group, equities analysts forecast that Spotify Technology S.A. will post 4.02 EPS for the current fiscal year.

Spotify Technology Company Profile

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.