Barclays boosted its stake in Spotify Technology SA (NYSE: SPOT – Get Rating ) by 35.7% during the third quarter, according to a recent disclosure to the SEC. The fund owns 239,894 shares of the company after purchasing an additional 63,127 shares during the quarter. Barclays owns about 0.12 percent of Spotify Technology, worth $20,703,000, according to a recent SEC filing.
Many other hedge funds have also recently revised their SPOT holdings. Cetera Advisor Networks LLC boosted its position in Spotify Technology by 142.4% in the first quarter. Cetera Advisor Networks LLC now owns 3,071 shares of the company worth $464,000 after purchasing an additional 1,804 shares last quarter. Private Advisor Group LLC increased its position in Spotify Technology by 19.8% in the first quarter. Private Advisor Group LLC now owns 4,909 shares of the company worth $741,000 after buying an additional 811 shares last quarter. BlackRock Inc. boosted its position in Spotify Technology by 6.3% in the first quarter. BlackRock Inc. now owns 4,046,153 shares of the company worth $611,049,000 after purchasing an additional 241,026 shares last quarter. Cibc World Market Inc. boosted its position in Spotify Technology by 22.4% in the first quarter. Cibc World Market Inc. now owns 4,823 shares of the company worth $728,000 after buying an additional 883 shares last quarter. Finally, Dimensional Fund Advisors LP increased its position in Spotify Technology by 68.6% during the first quarter. Dimensional Fund Advisors LP now owns 190,255 shares of the company worth $28,735,000 after purchasing an additional 77,379 shares last quarter. Hedge funds and other institutional investors own 52.80% of the company.
Analyst Promotions and Demotions
Many stock analysts have published reports on the company. UBS AG cut their price target on Spotify Technology from $142.00 to $100.00 in a research note on Thursday, January 5th. Pivotal Research cut their price target on Spotify Technology from $105.00 to $100.00 in a report on Wednesday, October 26th. JPMorgan Chase & Co cut their price target on Spotify Technology from $155.00 to $130.00 and set an “overweight” rating on the company in a report on Friday, October 21st. Truist Financial cut their price target on Spotify Technology from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, October 27th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Spotify Technology from $115.00 to $105.00 and set a “hold” rating on the stock in a report on Monday, October 24th. Thirteen analysts have a hold rating on the stock and 11 have a buy rating on the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $142.44.
Spotify tech shares rose 2.1 percent
SPOT opened at $99.94 on Tuesday. Spotify Technology SA had a 52-week low of $69.29 and a 52-week high of $208.49. The company’s 50-day simple moving average is $81.40 and the 200-day simple moving average is $93.00. The company has a market capitalization of $19.2 billion, a price-to-earnings ratio of -52.60, and a beta of 1.66.
Spotify Technology (NYSE: SPOT – Get Rating ) last released its quarterly earnings results on Tuesday, October 25th. The company reported earnings per share ($0.99) for the quarter ($0.11) below the consensus estimate ($0.88). Spotify Technology has a negative return on equity of 8.21% and a net margin of 1.62%. The company’s revenue for the quarter was $3.05 billion, beating analysts’ expectations of $3.03 billion. Sell-side analysts expect Spotify Technology SA to report EPS of -2.64 for the current year.
About Spotify Technology
(get rating)
Spotify Technology SA and its subsidiaries provide audio streaming services worldwide. It operates through premium and ad-supported segments. The Premium segment offers its subscribers unlimited online and offline streaming access to its catalog of music and podcasts without commercial interruption.
further reading
Want to see what other hedge funds own SPOT? Visit HoldingsChannel.com for Spotify Technology SA’s (NYSE: SPOT – Get Rated ) latest 13F filings and insider trades.
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