Pathstone Holdings LLC Grows Position in Spotify Technology S.A. (NYSE:SPOT)

Pathstone Holdings LLC lifted its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 8.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 26,228 shares of the company’s stock after purchasing an additional 1,970 shares during the quarter. Pathstone Holdings LLC’s holdings in Spotify Technology were worth $11,734,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Jennison Associates LLC acquired a new position in Spotify Technology during the fourth quarter valued at approximately $1,335,575,000. GQG Partners LLC acquired a new position in shares of Spotify Technology during the 4th quarter valued at $800,725,000. Forsta AP Fonden purchased a new stake in Spotify Technology during the 4th quarter worth $619,600,000. Geode Capital Management LLC increased its holdings in Spotify Technology by 561.6% in the 4th quarter. Geode Capital Management LLC now owns 1,483,392 shares of the company’s stock valued at $659,841,000 after purchasing an additional 1,259,183 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Spotify Technology during the fourth quarter worth about $396,028,000. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Performance

Spotify Technology stock opened at $640.43 on Friday. The firm’s 50-day moving average is $582.66 and its 200-day moving average is $530.69. Spotify Technology S.A. has a 1 year low of $288.07 and a 1 year high of $663.55. The company has a market cap of $131.10 billion, a P/E ratio of 107.64 and a beta of 1.72.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $1.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.29 by ($1.16). Spotify Technology had a return on equity of 25.56% and a net margin of 7.26%. The business had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.22 billion. During the same quarter in the previous year, the business posted $0.97 earnings per share. The company’s quarterly revenue was up 15.2% compared to the same quarter last year. As a group, sell-side analysts predict that Spotify Technology S.A. will post 10.3 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Wolfe Research upgraded Spotify Technology from a “peer perform” rating to an “outperform” rating and set a $660.00 target price for the company in a research note on Monday, April 21st. Redburn Atlantic initiated coverage on shares of Spotify Technology in a research note on Tuesday, March 11th. They set a “neutral” rating and a $545.00 price objective on the stock. Cantor Fitzgerald decreased their target price on shares of Spotify Technology from $600.00 to $520.00 and set a “neutral” rating for the company in a research note on Wednesday, April 16th. FBN Securities began coverage on shares of Spotify Technology in a report on Friday, March 28th. They set a “sector perform” rating and a $645.00 price target for the company. Finally, UBS Group decreased their price objective on shares of Spotify Technology from $690.00 to $680.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Eight investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $606.48.

Spotify Technology Profile

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.