CoreCap Advisors LLC Acquires New Shares in Spotify Technology S.A. (NYSE:SPOT)

CoreCap Advisors LLC acquired a new stake in shares of Spotify Technology S.A. (NYSE:SPOTFree Report) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 1,119 shares of the company’s stock, valued at approximately $210,000.

Other large investors have also bought and sold shares of the company. Technology Crossover Management XI Ltd. raised its position in Spotify Technology by 36.2% during the 3rd quarter. Technology Crossover Management XI Ltd. now owns 1,297,323 shares of the company’s stock worth $200,618,000 after purchasing an additional 344,841 shares during the last quarter. Nordea Investment Management AB raised its position in Spotify Technology by 7.9% during the 4th quarter. Nordea Investment Management AB now owns 248,659 shares of the company’s stock worth $46,927,000 after purchasing an additional 18,105 shares during the last quarter. GSA Capital Partners LLP raised its position in Spotify Technology by 452.4% during the 3rd 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. Armistice Capital LLC bought a new position in Spotify Technology during the 3rd quarter worth $2,609,000. Finally, Graham Capital Management L.P. raised its position in Spotify Technology by 95.7% during the 3rd quarter. Graham Capital Management L.P. now owns 45,062 shares of the company’s stock worth $6,968,000 after purchasing an additional 22,035 shares during the last quarter. 84.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on SPOT shares. UBS Group raised Spotify Technology from a “neutral” rating to a “buy” rating and raised their target price for the stock from $170.00 to $274.00 in a research report on Tuesday, January 30th. Barclays lifted their price objective on Spotify Technology from $186.00 to $216.00 and gave the stock an “overweight” rating in a research report on Friday, December 8th. Raymond James lifted their price objective on Spotify Technology from $180.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, December 11th. Morgan Stanley lifted their price objective on Spotify Technology from $250.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Finally, HSBC initiated coverage on Spotify Technology in a research report on Wednesday. They issued a “buy” rating and a $310.00 price objective for the company. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $235.36.

Check Out Our Latest Stock Analysis on Spotify Technology

Spotify Technology Trading Down 1.0 %

SPOT stock opened at $260.21 on Thursday. Spotify Technology S.A. has a 52-week low of $126.83 and a 52-week high of $278.30. The business has a 50-day simple moving average of $241.86 and a two-hundred day simple moving average of $198.29.

Spotify Technology (NYSE:SPOTGet Free Report) last released its quarterly earnings results on Tuesday, February 6th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.01. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.72 billion. Spotify Technology had a negative return on equity of 23.43% and a negative net margin of 4.01%. The company’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.43) EPS. On average, equities research analysts anticipate that Spotify Technology S.A. will post 3.53 earnings per share for the current fiscal year.

Spotify Technology Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Spotify Technology (NYSE:SPOT)

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