Slow Capital Inc. Acquires 94 Shares of Spotify Technology S.A. (NYSE:SPOT)

Slow Capital Inc. boosted its holdings in Spotify Technology S.A. (NYSE:SPOT) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,487 shares of the company’s stock after purchasing an additional 94 shares during the quarter. Slow Capital Inc.’s holdings in Spotify Technology were worth $3,474,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. First Horizon Advisors Inc. grew its stake in shares of Spotify Technology by 195.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 177 shares of the company’s stock valued at $27,000 after buying an additional 117 shares during the period. Pinnacle Bancorp Inc. bought a new position in Spotify Technology in the fourth quarter worth approximately $29,000. Quarry LP acquired a new stake in Spotify Technology in the second quarter valued at approximately $35,000. First Manhattan Co. increased its holdings in shares of Spotify Technology by 65.8% during the first quarter. First Manhattan Co. now owns 252 shares of the company’s stock valued at $38,000 after acquiring an additional 100 shares in the last quarter. Finally, Beaird Harris Wealth Management LLC raised its position in shares of Spotify Technology by 2,540.0% during the third quarter. Beaird Harris Wealth Management LLC now owns 264 shares of the company’s stock worth $41,000 after purchasing an additional 254 shares during the period. 84.09% of the stock is owned by institutional investors and hedge funds.

Spotify Technology Stock Performance

NYSE:SPOT traded up $7.56 during mid-day trading on Wednesday, reaching $298.08. The stock had a trading volume of 1,585,650 shares, compared to its average volume of 1,735,027. The stock has a market capitalization of $59.12 billion, a P/E ratio of -100.70 and a beta of 1.63. The firm has a 50 day moving average price of $264.19 and a two-hundred day moving average price of $212.25. Spotify Technology S.A. has a one year low of $128.67 and a one year high of $313.16.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings results on Tuesday, February 6th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.01. Spotify Technology had a negative net margin of 4.01% and a negative return on equity of 23.43%. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same period last year, the firm posted ($1.43) earnings per share. The business’s revenue was up 16.0% compared to the same quarter last year. Research analysts forecast that Spotify Technology S.A. will post 3.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SPOT shares. The Goldman Sachs Group lifted their price target on shares of Spotify Technology from $171.00 to $195.00 and gave the company a “neutral” rating in a research report on Tuesday, January 9th. UBS Group boosted their target price on shares of Spotify Technology from $274.00 to $375.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Morgan Stanley raised their price target on shares of Spotify Technology from $250.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. TheStreet upgraded Spotify Technology from a “d+” rating to a “c-” rating in a research note on Friday, February 9th. Finally, Bank of America increased their price objective on Spotify Technology from $265.00 to $315.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $254.16.

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.