US Bancorp DE Has $10.95 Million Stock Position in Spotify Technology S.A. (NYSE:SPOT)

US Bancorp DE boosted its stake in Spotify Technology S.A. (NYSE:SPOTFree Report) by 25.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,295 shares of the company’s stock after purchasing an additional 11,789 shares during the period. US Bancorp DE’s holdings in Spotify Technology were worth $10,954,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SPOT. Pinnacle Bancorp Inc. acquired a new stake in Spotify Technology during the 4th quarter worth approximately $29,000. GAMMA Investing LLC acquired a new position in shares of Spotify Technology during the fourth quarter valued at about $32,000. Lindbrook Capital LLC raised its stake in Spotify Technology by 32.3% during 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 lifted its holdings in shares of 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 purchasing an additional 254 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in shares of Spotify Technology by 191.4% in the fourth quarter. Quadrant Capital Group LLC now owns 271 shares of the company’s stock valued at $51,000 after buying an additional 178 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Trading Up 2.5 %

SPOT stock opened at $308.16 on Monday. Spotify Technology S.A. has a 52-week low of $129.23 and a 52-week high of $319.30. The firm has a 50 day moving average price of $287.48 and a 200-day moving average price of $238.68.

Spotify Technology (NYSE:SPOTGet Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.42. The business had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.87 billion. Spotify Technology had a negative net margin of 0.80% and a negative return on equity of 4.39%. During the same period last year, the business earned ($1.24) EPS. Research analysts predict that Spotify Technology S.A. will post 4.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. KeyCorp raised their price objective on Spotify Technology from $300.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. JPMorgan Chase & Co. boosted their price objective on Spotify Technology from $320.00 to $365.00 and gave the company an “overweight” rating in a research note on Wednesday, April 24th. HSBC raised their price target on shares of Spotify Technology from $310.00 to $355.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. TheStreet raised Spotify Technology from a “d+” rating to a “c-” rating in a report on Friday, February 9th. Finally, Pivotal Research upped their price objective on Spotify Technology from $390.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Eight investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $306.42.

Check Out Our Latest Analysis on SPOT

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)

Receive News & Ratings for Spotify Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spotify Technology and related companies with MarketBeat.com's FREE daily email newsletter.