4,802 Shares in Spotify Technology $SPOT Bought by Alamar Capital Management LLC

Alamar Capital Management LLC purchased a new position in shares of Spotify Technology (NYSE:SPOT) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,802 shares of the company’s stock, valued at approximately $2,329,000. Spotify Technology makes up approximately 1.4% of Alamar Capital Management LLC’s holdings, making the stock its 18th largest holding.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JPL Wealth Management LLC acquired a new stake in shares of Spotify Technology in the third quarter valued at $35,000. Kemnay Advisory Services Inc. bought a new position in Spotify Technology in the fourth quarter valued at $32,000. Newbridge Financial Services Group Inc. acquired a new stake in Spotify Technology in the 4th quarter valued at $35,000. Osbon Capital Management LLC acquired a new stake in Spotify Technology in the 4th quarter valued at $35,000. Finally, Wilmington Savings Fund Society FSB lifted its position in Spotify Technology by 85.7% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 65 shares of the company’s stock worth $38,000 after buying an additional 30 shares in the last quarter. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Performance

Spotify Technology stock opened at $474.72 on Thursday. The stock has a 50-day simple moving average of $479.93 and a 200 day simple moving average of $489.13. The stock has a market capitalization of $97.74 billion, a P/E ratio of 37.83, a PEG ratio of 1.22 and a beta of 1.56. Spotify Technology has a 52 week low of $405.00 and a 52 week high of $748.30.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings data on Tuesday, April 28th. The company reported $4.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.41 by $0.63. The firm had revenue of $5.25 billion for the quarter, compared to analyst estimates of $5.23 billion. Spotify Technology had a return on equity of 35.73% and a net margin of 15.56%.The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.07 earnings per share. Research analysts forecast that Spotify Technology will post 14.51 earnings per share for the current year.

Analyst Upgrades and Downgrades

SPOT has been the subject of a number of recent research reports. KeyCorp reduced their price objective on shares of Spotify Technology from $745.00 to $680.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. JPMorgan Chase & Co. increased their price target on Spotify Technology from $600.00 to $650.00 and gave the company an “overweight” rating in a research report on Friday, May 22nd. Canaccord Genuity Group decreased their price target on Spotify Technology from $750.00 to $720.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Pivotal Research lowered their price target on Spotify Technology from $420.00 to $400.00 and set a “hold” rating on the stock in a research report on Wednesday, April 29th. Finally, Rosenblatt Securities dropped their price objective on Spotify Technology from $534.00 to $531.00 and set a “neutral” rating on the stock in a research note on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $630.70.

Insiders Place Their Bets

In other Spotify Technology news, Director Sven Hans Martin Lorentzon sold 35,380 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $525.73, for a total value of $18,600,327.40. Following the transaction, the director directly owned 6,383 shares of the company’s stock, valued at $3,355,734.59. This represents a 84.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christopher P. Marshall sold 2,650 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $519.86, for a total transaction of $1,377,629.00. Following the sale, the director owned 4,039 shares of the company’s stock, valued at $2,099,714.54. This trade represents a 39.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 111,442 shares of company stock worth $54,757,553 in the last 90 days. Corporate insiders own 0.40% of the company’s stock.

Spotify Technology Company 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.