Tower Research Capital LLC TRC Acquires 776 Shares of Spotify Technology S.A. (NYSE:SPOT)

Tower Research Capital LLC TRC lifted its holdings in Spotify Technology S.A. (NYSE:SPOTFree Report) by 9.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,939 shares of the company’s stock after buying an additional 776 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Spotify Technology were worth $1,680,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SPOT. Technology Crossover Management XI Ltd. lifted its position in shares of Spotify Technology by 36.2% during the third 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 in the last quarter. Nordea Investment Management AB lifted its holdings 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 buying an additional 18,105 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Spotify Technology by 410.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 97,771 shares of the company’s stock valued at $18,372,000 after buying an additional 78,609 shares during the last quarter. Evoke Wealth LLC acquired a new stake in shares of Spotify Technology in the 4th quarter valued at $2,271,000. Finally, GSA Capital Partners LLP increased its stake in shares of Spotify Technology by 452.4% in the 3rd quarter. GSA Capital Partners LLP now owns 14,242 shares of the company’s stock valued at $2,202,000 after buying an additional 11,664 shares during the period. Institutional investors and hedge funds own 84.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SPOT. Bank of America raised their price target on Spotify Technology from $315.00 to $370.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Benchmark increased their price objective on shares of Spotify Technology from $325.00 to $375.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Pivotal Research increased their target price on Spotify Technology from $390.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Citigroup lifted their price target on shares of Spotify Technology from $255.00 to $310.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 7th. Finally, Morgan Stanley increased their target price on Spotify Technology from $270.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Eight research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $306.81.

Get Our Latest Analysis on Spotify Technology

Spotify Technology Stock Up 0.3 %

Shares of NYSE:SPOT opened at $309.00 on Tuesday. Spotify Technology S.A. has a 12-month low of $129.23 and a 12-month high of $331.08. The business has a fifty day simple moving average of $298.60 and a 200 day simple moving average of $249.22.

Spotify Technology (NYSE:SPOTGet Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $1.05 earnings per share (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 firm had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.87 billion. During the same quarter last year, the business earned ($1.24) EPS. On average, analysts forecast that Spotify Technology S.A. will post 4.93 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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