PBU The Pension Fund of Early Childhood & Youth Educators Makes New Investment in Spotify Technology $SPOT

PBU The Pension Fund of Early Childhood & Youth Educators acquired a new position in shares of Spotify Technology (NYSE:SPOT) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 21,084 shares of the company’s stock, valued at approximately $12,244,000.

Several other large investors have also modified their holdings of the business. Quadcap Wealth Management LLC boosted its position in shares of Spotify Technology by 5.7% during the third quarter. Quadcap Wealth Management LLC now owns 295 shares of the company’s stock valued at $206,000 after buying an additional 16 shares during the period. Sagespring Wealth Partners LLC boosted its position in shares of Spotify Technology by 2.9% during the fourth quarter. Sagespring Wealth Partners LLC now owns 636 shares of the company’s stock valued at $370,000 after buying an additional 18 shares during the period. Ameritas Advisory Services LLC boosted its position in shares of Spotify Technology by 7.9% during the third quarter. Ameritas Advisory Services LLC now owns 260 shares of the company’s stock valued at $181,000 after buying an additional 19 shares during the period. Aprio Wealth Management LLC boosted its position in shares of Spotify Technology by 3.1% during the third quarter. Aprio Wealth Management LLC now owns 633 shares of the company’s stock valued at $442,000 after buying an additional 19 shares during the period. Finally, Petra Financial Advisors Inc. boosted its position in shares of Spotify Technology by 1.2% during the third quarter. Petra Financial Advisors Inc. now owns 1,639 shares of the company’s stock valued at $1,144,000 after buying an additional 20 shares during the period. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Performance

Shares of NYSE SPOT opened at $497.19 on Friday. The firm has a market capitalization of $102.36 billion, a price-to-earnings ratio of 39.62, a PEG ratio of 1.20 and a beta of 1.56. The stock has a 50 day moving average price of $481.01 and a 200 day moving average price of $515.08. Spotify Technology has a 52-week low of $405.00 and a 52-week high of $785.00.

Spotify Technology (NYSE:SPOT) last posted its earnings results on Tuesday, April 28th. The company reported $4.04 earnings per share for the quarter, topping analysts’ consensus estimates of $3.41 by $0.63. The company had revenue of $5.25 billion during 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%.Spotify Technology’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.07 earnings per share. Analysts forecast that Spotify Technology will post 14.72 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SPOT. JPMorgan Chase & Co. boosted their price target on Spotify Technology from $600.00 to $650.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. Citizens Jmp boosted their price target on Spotify Technology from $600.00 to $625.00 and gave the company a “market outperform” rating in a report on Friday, May 22nd. Barclays boosted their price target on Spotify Technology from $500.00 to $565.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. Canaccord Genuity Group lowered their price target on Spotify Technology from $750.00 to $720.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Finally, Rosenblatt Securities boosted their price target on Spotify Technology from $500.00 to $534.00 and gave the company a “neutral” rating in a report on Friday, May 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Spotify Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $655.92.

Insider Activity at Spotify Technology

In other Spotify Technology news, Director Sven Hans Martin Lorentzon sold 35,380 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $525.73, for a total transaction of $18,600,327.40. Following the completion of the sale, the director owned 6,383 shares in the company, valued at $3,355,734.59. This represents a 84.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christopher P. Marshall sold 2,650 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $519.86, for a total value 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 position. 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 90 days. 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.