Fieldview Capital Management LLC Has $4.39 Million Position in Spotify Technology $SPOT

Fieldview Capital Management LLC grew its stake in Spotify Technology (NYSE:SPOT) by 717.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,292 shares of the company’s stock after acquiring an additional 5,522 shares during the quarter. Fieldview Capital Management LLC’s holdings in Spotify Technology were worth $4,392,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Knuff & Co LLC bought a new stake in Spotify Technology in the second quarter valued at approximately $27,000. Heartwood Wealth Advisors LLC bought a new position in shares of Spotify Technology during the third quarter worth $27,000. Greykasell Wealth Strategies Inc. grew its holdings in shares of Spotify Technology by 3,800.0% in the 3rd quarter. Greykasell Wealth Strategies Inc. now owns 39 shares of the company’s stock valued at $27,000 after buying an additional 38 shares during the period. Total Investment Management Inc. acquired a new position in shares of Spotify Technology in the 2nd quarter valued at $29,000. Finally, Westfuller Advisors LLC bought a new stake in shares of Spotify Technology in the 3rd quarter valued at $29,000. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Price Performance

SPOT opened at $566.73 on Monday. The business’s 50-day moving average price is $507.95 and its two-hundred day moving average price is $600.68. Spotify Technology has a 1 year low of $405.00 and a 1 year high of $785.00. The company has a market capitalization of $116.68 billion, a price-to-earnings ratio of 58.79, a P/E/G ratio of 1.23 and a beta of 1.66.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings data on Tuesday, February 10th. The company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $3.16 by $2.00. The company had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.14 billion. Spotify Technology had a return on equity of 31.35% and a net margin of 13.16%.Spotify Technology’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.88 earnings per share. Sell-side analysts anticipate that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

SPOT has been the topic of several research analyst reports. Benchmark dropped their price objective on Spotify Technology from $860.00 to $760.00 and set a “buy” rating on the stock in a research note on Friday, January 16th. UBS Group lowered their price target on Spotify Technology from $850.00 to $800.00 and set a “buy” rating for the company in a report on Friday, January 9th. Citizens Jmp assumed coverage on Spotify Technology in a research report on Wednesday, December 17th. They set a “market outperform” rating and a $800.00 price target on the stock. Phillip Securities upgraded Spotify Technology from a “hold” rating to a “moderate buy” rating in a report on Monday, November 10th. Finally, Wells Fargo & Company decreased their price objective on Spotify Technology from $750.00 to $710.00 and set an “overweight” rating for the company in a research report on Tuesday, January 13th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $698.91.

Spotify Technology Profile

Spotify Technology is a digital audio streaming company best known for its on-demand music service and a growing portfolio of spoken-word content. Founded in Sweden in 2006 by Daniel Ek and Martin Lorentzon and launched commercially in 2008, the company offers a cross-platform app that enables users to discover, stream and organize music, podcasts and other audio. Its primary consumer products include a free, ad-supported tier and a paid Spotify Premium subscription that provides ad-free listening, offline playback and higher-quality audio streams.