Duality Advisers LP Makes New Investment in Spotify Technology S.A. (NYSE:SPOT)

Duality Advisers LP bought a new position in Spotify Technology S.A. (NYSE:SPOT) during the 4th quarter, Holdings Channel reports. The institutional investor bought 4,455 shares of the company’s stock, valued at approximately $837,000.

Other hedge funds have also added to or reduced their stakes in the company. Technology Crossover Management XI Ltd. boosted its holdings in Spotify Technology by 36.2% in the third quarter. Technology Crossover Management XI Ltd. now owns 1,297,323 shares of the company’s stock worth $200,618,000 after acquiring an additional 344,841 shares in the last quarter. Nordea Investment Management AB boosted its holdings in Spotify Technology by 7.9% in the fourth quarter. Nordea Investment Management AB now owns 248,659 shares of the company’s stock worth $46,927,000 after acquiring an additional 18,105 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Spotify Technology by 410.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 97,771 shares of the company’s stock worth $18,372,000 after acquiring an additional 78,609 shares in the last quarter. GSA Capital Partners LLP boosted its holdings in Spotify Technology by 452.4% in the third quarter. GSA Capital Partners LLP now owns 14,242 shares of the company’s stock worth $2,202,000 after acquiring an additional 11,664 shares in the last quarter. Finally, Rheos Capital Works Inc. boosted its holdings in Spotify Technology by 205.7% in the fourth quarter. Rheos Capital Works Inc. now owns 107,000 shares of the company’s stock worth $20,106,000 after acquiring an additional 72,000 shares in the last quarter. 84.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SPOT shares. Wells Fargo & Company upped their price target on Spotify Technology from $250.00 to $280.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. Benchmark upped their price target on Spotify Technology from $325.00 to $375.00 and gave the company a “buy” rating in a report on Wednesday. The Goldman Sachs Group upped their price target on Spotify Technology from $277.00 to $317.00 and gave the company a “neutral” rating in a report on Wednesday. Barclays upped their price target on Spotify Technology from $335.00 to $350.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $320.00 price target (up from $300.00) on shares of Spotify Technology in a report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, Spotify Technology currently has a consensus rating of “Moderate Buy” and an average price target of $301.81.

Spotify Technology Stock Performance

Shares of NYSE SPOT opened at $281.34 on Thursday. The business’s 50 day moving average price is $269.74 and its 200-day moving average price is $217.24. Spotify Technology S.A. has a fifty-two week low of $128.67 and a fifty-two week high of $319.30. The company has a market cap of $55.80 billion, a price-to-earnings ratio of -419.90 and a beta of 1.63.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.63 by $0.42. The company had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.87 billion. Spotify Technology had a negative return on equity of 4.91% and a negative net margin of 0.80%. During the same period last year, the business posted ($1.24) EPS. Sell-side analysts predict that Spotify Technology S.A. will post 3.52 earnings per share for the current year.

About Spotify Technology

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.