Northeast Investment Management Has $7.39 Million Stake in Spotify Technology S.A. (NYSE:SPOT)

Northeast Investment Management boosted its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 27.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,517 shares of the company’s stock after purchasing an additional 3,526 shares during the quarter. Northeast Investment Management’s holdings in Spotify Technology were worth $7,389,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Jennison Associates LLC bought a new position in shares of Spotify Technology during the 4th quarter valued at about $1,335,575,000. Forsta AP Fonden acquired a new stake in Spotify Technology in the 4th quarter valued at about $619,600,000. WCM Investment Management LLC boosted its stake in shares of Spotify Technology by 18.5% during the 3rd quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock worth $1,430,142,000 after acquiring an additional 605,755 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Spotify Technology by 36,910.0% in the third quarter. International Assets Investment Management LLC now owns 347,524 shares of the company’s stock valued at $128,073,000 after purchasing an additional 346,585 shares during the last quarter. Finally, FMR LLC lifted its position in Spotify Technology by 23.4% during the third quarter. FMR LLC now owns 1,567,818 shares of the company’s stock worth $577,788,000 after acquiring an additional 297,035 shares during the last quarter. Institutional investors own 84.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SPOT shares. Piper Sandler upped their price target on shares of Spotify Technology from $330.00 to $450.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. TD Cowen increased their price target on Spotify Technology from $356.00 to $416.00 and gave the company a “hold” rating in a research note on Wednesday, November 13th. Morgan Stanley upped their target price on Spotify Technology from $550.00 to $670.00 and gave the stock an “overweight” rating in a report on Wednesday. Pivotal Research lifted their price target on Spotify Technology from $510.00 to $565.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, UBS Group raised their price objective on shares of Spotify Technology from $485.00 to $540.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $514.79.

Spotify Technology Stock Performance

NYSE:SPOT opened at $623.54 on Friday. Spotify Technology S.A. has a 52-week low of $228.07 and a 52-week high of $632.45. The business’s fifty day moving average is $493.96 and its 200 day moving average is $414.66. The firm has a market cap of $124.12 billion, a price-to-earnings ratio of 104.80 and a beta of 1.63.

Spotify Technology (NYSE:SPOT) last posted its earnings results on Tuesday, November 12th. The company reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($0.30). Spotify Technology had a return on equity of 25.56% and a net margin of 7.26%. The firm had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.03 billion. During the same quarter in the prior year, the company earned $0.36 earnings per share. The business’s revenue for the quarter was up 18.8% compared to the same quarter last year. Equities analysts predict that Spotify Technology S.A. will post 9.69 EPS for the current fiscal year.

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.