Asset Management One Co. Ltd. Grows Holdings in Spotify Technology S.A. (NYSE:SPOT)

Asset Management One Co. Ltd. lifted its stake in Spotify Technology S.A. (NYSE:SPOT) by 115.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 100,006 shares of the company’s stock after acquiring an additional 53,687 shares during the quarter. Asset Management One Co. Ltd. owned 0.05% of Spotify Technology worth $45,620,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SPOT. First Horizon Advisors Inc. grew its stake in shares of Spotify Technology by 5.8% in the third quarter. First Horizon Advisors Inc. now owns 478 shares of the company’s stock valued at $176,000 after buying an additional 26 shares in the last quarter. West Bancorporation Inc. grew its position in Spotify Technology by 3.4% in the 3rd quarter. West Bancorporation Inc. now owns 827 shares of the company’s stock valued at $305,000 after acquiring an additional 27 shares in the last quarter. Joel Isaacson & Co. LLC increased its stake in Spotify Technology by 1.9% during the fourth quarter. Joel Isaacson & Co. LLC now owns 1,559 shares of the company’s stock worth $697,000 after purchasing an additional 29 shares during the period. Avior Wealth Management LLC lifted its position in shares of Spotify Technology by 12.0% during the third quarter. Avior Wealth Management LLC now owns 281 shares of the company’s stock worth $104,000 after purchasing an additional 30 shares in the last quarter. Finally, Park National Corp OH boosted its stake in shares of Spotify Technology by 4.1% in the fourth quarter. Park National Corp OH now owns 793 shares of the company’s stock valued at $355,000 after purchasing an additional 31 shares during the period. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Performance

Shares of NYSE:SPOT opened at $647.97 on Friday. Spotify Technology S.A. has a one year low of $239.14 and a one year high of $652.63. The company has a 50-day simple moving average of $502.48 and a 200-day simple moving average of $421.64. The stock has a market capitalization of $128.98 billion, a price-to-earnings ratio of 108.90 and a beta of 1.63.

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on SPOT shares. Wolfe Research reissued a “peer perform” rating on shares of Spotify Technology in a research report on Friday, January 17th. Phillip Securities restated an “accumulate” rating and set a $485.00 price target (up previously from $420.00) on shares of Spotify Technology in a report on Wednesday, November 13th. Macquarie lifted their price objective on Spotify Technology from $500.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group boosted their price target on shares of Spotify Technology from $550.00 to $695.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $514.79.

Spotify Technology Company 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.