Zurcher Kantonalbank Zurich Cantonalbank Has $276,000 Stake in Spotify Technology S.A. (NYSE:SPOT)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 8.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,470 shares of the company’s stock after purchasing an additional 109 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Spotify Technology were worth $276,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of SPOT. Private Trust Co. NA grew its stake in Spotify Technology by 18.4% in the fourth quarter. Private Trust Co. NA now owns 367 shares of the company’s stock worth $69,000 after purchasing an additional 57 shares during the period. Ieq Capital LLC increased its stake in Spotify Technology by 0.3% in the third quarter. Ieq Capital LLC now owns 24,540 shares of the company’s stock worth $3,795,000 after purchasing an additional 85 shares during the period. Everhart Financial Group Inc. increased its stake in Spotify Technology by 5.1% in the third quarter. Everhart Financial Group Inc. now owns 2,151 shares of the company’s stock worth $333,000 after purchasing an additional 105 shares during the period. Orion Portfolio Solutions LLC lifted its position in shares of Spotify Technology by 7.8% during the third quarter. Orion Portfolio Solutions LLC now owns 1,457 shares of the company’s stock worth $225,000 after purchasing an additional 105 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in shares of Spotify Technology by 195.0% during the third quarter. First Horizon Advisors Inc. now owns 177 shares of the company’s stock valued at $27,000 after purchasing an additional 117 shares during the period. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Trading Up 0.6 %

NYSE:SPOT opened at $296.07 on Monday. Spotify Technology S.A. has a twelve month low of $129.23 and a twelve month high of $319.30. The company has a market cap of $56.31 billion, a PE ratio of -441.89 and a beta of 1.61. The company’s 50 day moving average is $275.53 and its two-hundred day moving average is $224.21.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.63 by $0.42. Spotify Technology had a negative net margin of 0.80% and a negative return on equity of 4.39%. The business had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.87 billion. During the same period in the previous year, the firm posted ($1.24) earnings per share. As a group, analysts expect that Spotify Technology S.A. will post 4.78 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on SPOT shares. JPMorgan Chase & Co. raised their price target on shares of Spotify Technology from $320.00 to $365.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 24th. TheStreet raised shares of Spotify Technology from a “d+” rating to a “c-” rating in a research report on Friday, February 9th. Benchmark boosted their price target on Spotify Technology from $325.00 to $375.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. KeyCorp raised their price objective on Spotify Technology from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Finally, UBS Group lifted their target price on Spotify Technology from $274.00 to $375.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Eight research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, Spotify Technology presently has an average rating of “Moderate Buy” and an average 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.