Sentinel Dome Partners LLC Takes Position in Spotify Technology $SPOT

Sentinel Dome Partners LLC bought a new position in shares of Spotify Technology (NYSE:SPOT) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 5,400 shares of the company’s stock, valued at approximately $3,136,000. Spotify Technology makes up about 2.1% of Sentinel Dome Partners LLC’s investment portfolio, making the stock its 16th biggest position.

A number of other hedge funds also recently modified their holdings of SPOT. SHP Wealth Management acquired a new position in Spotify Technology during the fourth quarter valued at approximately $556,000. Clearwave Capital LLC acquired a new position in shares of Spotify Technology during the 4th quarter worth $325,000. Wick Capital Partners LLC bought a new stake in shares of Spotify Technology during the 4th quarter worth $235,000. Groupama Asset Managment boosted its stake in Spotify Technology by 969.7% in the fourth quarter. Groupama Asset Managment now owns 3,102 shares of the company’s stock valued at $1,801,000 after buying an additional 2,812 shares in the last quarter. Finally, Anchor Investment Management LLC grew its position in Spotify Technology by 8.9% in the fourth quarter. Anchor Investment Management LLC now owns 1,915 shares of the company’s stock valued at $1,112,000 after acquiring an additional 156 shares during the last quarter. Institutional investors own 84.09% of the company’s stock.

Insiders Place Their Bets

In other Spotify Technology news, Director Christopher P. Marshall sold 2,650 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were 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 approximately $2,099,714.54. This represents a 39.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Gustav Soderstrom sold 20,833 shares of Spotify Technology stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $473.52, for a total value of $9,864,842.16. Following the completion of the transaction, the chief executive officer directly owned 20,609 shares of the company’s stock, valued at approximately $9,758,773.68. This trade represents a 50.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 111,442 shares of company stock valued at $54,647,508 over the last quarter. Company insiders own 0.40% of the company’s stock.

Spotify Technology Price Performance

Spotify Technology stock opened at $468.74 on Friday. The stock’s 50 day moving average is $481.13 and its 200 day moving average is $506.59. Spotify Technology has a one year low of $405.00 and a one year high of $785.00. The firm has a market cap of $96.50 billion, a P/E ratio of 37.35, a P/E/G ratio of 1.14 and a beta of 1.56.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings results on Tuesday, April 28th. The company reported $4.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.41 by $0.63. Spotify Technology had a net margin of 15.56% and a return on equity of 35.73%. The firm had revenue of $5.25 billion during the quarter, compared to analyst estimates of $5.23 billion. During the same quarter last year, the business earned $1.07 EPS. The company’s revenue was up 8.2% compared to the same quarter last year. Equities analysts anticipate that Spotify Technology will post 14.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

SPOT has been the topic of a number of research analyst reports. Daiwa Securities Group initiated coverage on shares of Spotify Technology in a research note on Thursday, March 26th. They issued an “outperform” rating and a $535.00 price target on the stock. Citizens Jmp upped their price objective on shares of Spotify Technology from $600.00 to $625.00 and gave the stock a “market outperform” rating in a research report on Friday, May 22nd. Pivotal Research dropped their price objective on shares of Spotify Technology from $420.00 to $400.00 and set a “hold” rating for the company in a research note on Wednesday, April 29th. UBS Group cut their target price on shares of Spotify Technology from $760.00 to $735.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Finally, JPMorgan Chase & Co. upped their price target on shares of Spotify Technology from $600.00 to $650.00 and gave the stock an “overweight” rating in a report on Friday, May 22nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Spotify Technology currently has an average rating of “Moderate Buy” and an average target price of $652.16.

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.