Spotify Technology S.A. (NYSE:SPOT) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. grew its holdings in shares of Spotify Technology S.A. (NYSE:SPOTFree Report) by 212.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 54,157 shares of the company’s stock after purchasing an additional 36,835 shares during the period. Principal Financial Group Inc.’s holdings in Spotify Technology were worth $10,177,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Pinnacle Bancorp Inc. purchased a new stake in shares of Spotify Technology during the 4th quarter worth about $29,000. GAMMA Investing LLC bought a new position in Spotify Technology in the 4th quarter worth approximately $32,000. Lindbrook Capital LLC increased its position in Spotify Technology by 32.3% in the 4th quarter. Lindbrook Capital LLC now owns 205 shares of the company’s stock worth $39,000 after buying an additional 50 shares during the period. Beaird Harris Wealth Management LLC increased its position in Spotify Technology by 2,540.0% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 264 shares of the company’s stock worth $41,000 after buying an additional 254 shares during the period. Finally, FNY Investment Advisers LLC bought a new position in Spotify Technology in the 4th quarter worth approximately $54,000. Institutional investors own 84.09% of the company’s stock.

Wall Street Analyst Weigh In

SPOT has been the topic of several recent analyst reports. Bank of America lifted their price target on Spotify Technology from $315.00 to $370.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Macquarie lifted their price objective on Spotify Technology from $300.00 to $330.00 and gave the stock an “outperform” rating in a report on Monday, April 22nd. Loop Capital lifted their price objective on Spotify Technology from $165.00 to $250.00 and gave the stock a “hold” rating in a report on Monday, April 22nd. TheStreet raised Spotify Technology from a “d+” rating to a “c-” rating in a report on Friday, February 9th. Finally, HSBC lifted their price objective on Spotify Technology from $310.00 to $355.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Eight equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, Spotify Technology has a consensus rating of “Moderate Buy” and a consensus target price of $306.42.

Get Our Latest Report on SPOT

Spotify Technology Stock Up 2.5 %

Spotify Technology stock opened at $308.16 on Monday. The firm has a 50 day moving average price of $287.48 and a 200-day moving average price of $238.68. 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 capitalization of $58.61 billion, a P/E ratio of -459.93 and a beta of 1.61.

Spotify Technology (NYSE:SPOTGet Free Report) last released 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. The firm had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.87 billion. Spotify Technology had a negative return on equity of 4.39% and a negative net margin of 0.80%. During the same quarter in the previous year, the business earned ($1.24) earnings per share. Equities analysts expect that Spotify Technology S.A. will post 4.78 EPS for the current fiscal year.

About Spotify Technology

(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.

Further Reading

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

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