6,812 Shares in Spotify Technology S.A. (NYSE:SPOT) Purchased by K.J. Harrison & Partners Inc

K.J. Harrison & Partners Inc acquired a new stake in shares of Spotify Technology S.A. (NYSE:SPOT) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 6,812 shares of the company’s stock, valued at approximately $1,280,000.

A number of other hedge funds also recently bought and sold shares of the business. Lindbrook Capital LLC grew its holdings in shares of Spotify Technology by 32.3% during the 4th quarter. Lindbrook Capital LLC now owns 205 shares of the company’s stock worth $39,000 after purchasing an additional 50 shares during the period. Signaturefd LLC raised its position in Spotify Technology by 4.4% in the 4th quarter. Signaturefd LLC now owns 1,222 shares of the company’s stock valued at $230,000 after purchasing an additional 51 shares in the last quarter. Private Trust Co. NA boosted its stake in shares of Spotify Technology by 18.4% in the 4th quarter. Private Trust Co. NA now owns 367 shares of the company’s stock valued at $69,000 after buying an additional 57 shares during the period. Parkside Financial Bank & Trust grew its position in shares of Spotify Technology by 21.6% during the fourth quarter. Parkside Financial Bank & Trust now owns 354 shares of the company’s stock worth $67,000 after buying an additional 63 shares in the last quarter. Finally, Ieq Capital LLC grew its position in shares of Spotify Technology by 0.3% during the third quarter. Ieq Capital LLC now owns 24,540 shares of the company’s stock worth $3,795,000 after buying an additional 85 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Analyst Upgrades and Downgrades

SPOT has been the subject of a number of recent research reports. HSBC lifted their price target on shares of Spotify Technology from $310.00 to $355.00 and gave the stock a “buy” rating in a research note on Wednesday. TheStreet raised Spotify Technology from a “d+” rating to a “c-” rating in a research report on Friday, February 9th. Pivotal Research raised their target price on Spotify Technology from $390.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday. Loop Capital boosted their target price on Spotify Technology from $165.00 to $250.00 and gave the stock a “hold” rating in a research note on Monday, April 22nd. Finally, Piper Sandler reiterated a “neutral” rating and issued a $320.00 price target (up from $300.00) on shares of Spotify Technology in a research note on Wednesday. Eight research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $301.81.

Spotify Technology Trading Up 0.2 %

Shares of NYSE SPOT traded up $0.57 during mid-day trading on Friday, reaching $289.59. The company had a trading volume of 2,477,228 shares, compared to its average volume of 3,137,877. The company has a 50-day moving average price of $271.48 and a two-hundred day moving average price of $218.66. The stock has a market cap of $57.43 billion, a PE ratio of -432.35 and a beta of 1.63. Spotify Technology S.A. has a 1-year low of $128.67 and a 1-year high of $319.30.

Spotify Technology (NYSE:SPOT) last issued its earnings results on Tuesday, April 23rd. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company 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 posted ($1.24) EPS. On average, research analysts expect that Spotify Technology S.A. will post 4.02 EPS for the current year.

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.