Summit Trail Advisors LLC Purchases 56 Shares of Spotify Technology S.A. (NYSE:SPOT)

Summit Trail Advisors LLC lifted its position in Spotify Technology S.A. (NYSE:SPOT) by 3.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,664 shares of the company’s stock after purchasing an additional 56 shares during the quarter. Summit Trail Advisors LLC’s holdings in Spotify Technology were worth $313,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Technology Crossover Management XI Ltd. grew its position in Spotify Technology by 36.2% during the third quarter. Technology Crossover Management XI Ltd. now owns 1,297,323 shares of the company’s stock worth $200,618,000 after buying an additional 344,841 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Spotify Technology by 7.9% during the 4th quarter. Nordea Investment Management AB now owns 248,659 shares of the company’s stock valued at $46,927,000 after acquiring an additional 18,105 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Spotify Technology by 410.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 97,771 shares of the company’s stock worth $18,372,000 after purchasing an additional 78,609 shares in the last quarter. GSA Capital Partners LLP increased its position in shares of Spotify Technology by 452.4% in the third quarter. GSA Capital Partners LLP now owns 14,242 shares of the company’s stock worth $2,202,000 after purchasing an additional 11,664 shares during the last quarter. Finally, Rheos Capital Works Inc. raised its stake in Spotify Technology by 205.7% in the fourth quarter. Rheos Capital Works Inc. now owns 107,000 shares of the company’s stock valued at $20,106,000 after purchasing an additional 72,000 shares in the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Price Performance

NYSE SPOT opened at $296.18 on Wednesday. The business’s 50-day moving average is $277.33 and its 200 day moving average is $226.31. The stock has a market capitalization of $56.33 billion, a PE ratio of -445.08 and a beta of 1.61. Spotify Technology S.A. has a 1 year low of $129.23 and a 1 year high of $319.30.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates 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 last year, the company earned ($1.24) EPS. As a group, equities research analysts anticipate that Spotify Technology S.A. will post 4.78 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on SPOT shares. Guggenheim boosted their price target on shares of Spotify Technology from $290.00 to $350.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Raymond James increased their target price on Spotify Technology from $260.00 to $320.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Macquarie raised their price target on Spotify Technology from $300.00 to $330.00 and gave the company an “outperform” rating in a research report on Monday, April 22nd. Barclays upped their price objective on Spotify Technology from $335.00 to $350.00 and gave the stock an “overweight” rating in a report on Wednesday, April 24th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Spotify Technology from $260.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Eight research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $306.42.

Spotify Technology 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.