New York State Common Retirement Fund Has $42.73 Million Stock Holdings in Spotify Technology S.A. (NYSE:SPOT)

New York State Common Retirement Fund reduced its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 16.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 227,379 shares of the company’s stock after selling 43,895 shares during the period. New York State Common Retirement Fund’s holdings in Spotify Technology were worth $42,727,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Lindbrook Capital LLC grew its holdings in Spotify Technology by 32.3% during the fourth quarter. Lindbrook Capital LLC now owns 205 shares of the company’s stock worth $39,000 after buying an additional 50 shares in the last quarter. Signaturefd LLC grew its stake in shares of Spotify Technology by 4.4% in the 4th quarter. Signaturefd LLC now owns 1,222 shares of the company’s stock worth $230,000 after acquiring an additional 51 shares in the last quarter. Private Trust Co. NA raised its holdings in shares of Spotify Technology by 18.4% in the fourth quarter. Private Trust Co. NA now owns 367 shares of the company’s stock valued at $69,000 after purchasing an additional 57 shares during the last quarter. Ieq Capital LLC raised its holdings in shares of Spotify Technology by 0.3% in the third quarter. Ieq Capital LLC now owns 24,540 shares of the company’s stock valued at $3,795,000 after purchasing an additional 85 shares during the last quarter. Finally, Slow Capital Inc. lifted its position in shares of Spotify Technology by 0.5% during the fourth quarter. Slow Capital Inc. now owns 18,487 shares of the company’s stock valued at $3,474,000 after purchasing an additional 94 shares in the last quarter. 84.09% of the stock is owned by hedge funds and other institutional investors.

Spotify Technology Stock Performance

NYSE:SPOT opened at $281.34 on Thursday. The stock has a 50-day simple moving average of $269.74 and a two-hundred day simple moving average of $217.24. The firm has a market capitalization of $55.80 billion, a PE ratio of -419.90 and a beta of 1.63. 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 results on Tuesday, April 23rd. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.42. Spotify Technology had a negative net margin of 0.80% and a negative return on equity of 4.91%. The company had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.87 billion. During the same period in the previous year, the firm posted ($1.24) EPS. Equities analysts forecast that Spotify Technology S.A. will post 3.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on SPOT. Deutsche Bank Aktiengesellschaft lifted their target price on Spotify Technology from $260.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Macquarie upped 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. Rosenblatt Securities lifted their price objective on Spotify Technology from $315.00 to $396.00 and gave the stock a “buy” rating in a report on Wednesday. DZ Bank upgraded Spotify Technology from a “sell” rating to a “hold” rating and set a $240.00 price objective on the stock in a research note on Wednesday, February 7th. Finally, KeyCorp increased their target price on shares of Spotify Technology from $300.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. Eight analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, Spotify Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $301.81.

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.