WINTON GROUP Ltd Buys 5,720 Shares of Spotify Technology $SPOT

WINTON GROUP Ltd raised its stake in Spotify Technology (NYSE:SPOT) by 29.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 25,345 shares of the company’s stock after purchasing an additional 5,720 shares during the quarter. Spotify Technology accounts for 0.5% of WINTON GROUP Ltd’s portfolio, making the stock its 28th biggest position. WINTON GROUP Ltd’s holdings in Spotify Technology were worth $14,718,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. KERR FINANCIAL PLANNING Corp bought a new stake in Spotify Technology in the third quarter valued at approximately $26,000. JPL Wealth Management LLC bought a new position in shares of Spotify Technology during the third quarter valued at approximately $35,000. Newbridge Financial Services Group Inc. bought a new position in shares of Spotify Technology during the fourth quarter valued at approximately $35,000. Kozak & Associates Inc. raised its holdings in shares of Spotify Technology by 1,700.0% during the fourth quarter. Kozak & Associates Inc. now owns 72 shares of the company’s stock valued at $39,000 after acquiring an additional 68 shares in the last quarter. Finally, Eastern Bank raised its holdings in shares of Spotify Technology by 110.5% during the fourth quarter. Eastern Bank now owns 80 shares of the company’s stock valued at $46,000 after acquiring an additional 42 shares in the last quarter. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Trading Up 0.7%

NYSE SPOT opened at $497.19 on Friday. Spotify Technology has a 12 month low of $405.00 and a 12 month high of $785.00. The stock has a market cap of $102.36 billion, a P/E ratio of 39.62, a P/E/G ratio of 1.20 and a beta of 1.56. The stock’s fifty day moving average price is $481.01 and its 200-day moving average price is $515.08.

Spotify Technology (NYSE:SPOT) last released its earnings results on Tuesday, April 28th. The company reported $4.04 EPS for the quarter, topping analysts’ consensus estimates of $3.41 by $0.63. Spotify Technology had a return on equity of 35.73% and a net margin of 15.56%.The firm had revenue of $5.25 billion for the quarter, compared to analysts’ expectations of $5.23 billion. During the same period in the prior year, the firm posted $1.07 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis. As a group, analysts forecast that Spotify Technology will post 14.72 earnings per share for the current fiscal year.

Insider Transactions at Spotify Technology

In other news, CEO Gustav Soderstrom sold 20,833 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $496.52, for a total value of $10,344,001.16. Following the sale, the chief executive officer directly owned 20,376 shares of the company’s stock, valued at approximately $10,117,091.52. This represents a 50.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Sven Hans Martin Lorentzon sold 35,380 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $525.73, for a total value of $18,600,327.40. Following the sale, the director directly owned 6,383 shares in the company, valued at $3,355,734.59. This trade represents a 84.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 111,442 shares of company stock valued at $54,647,508. 0.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SPOT. Cantor Fitzgerald upped their target price on Spotify Technology from $430.00 to $520.00 and gave the company a “neutral” rating in a report on Tuesday, May 26th. Citizens Jmp upped their target price on Spotify Technology from $600.00 to $625.00 and gave the company a “market outperform” rating in a report on Friday, May 22nd. Rosenblatt Securities upped their target price on Spotify Technology from $500.00 to $534.00 and gave the company a “neutral” rating in a report on Friday, May 22nd. The Goldman Sachs Group reduced their price target on Spotify Technology from $670.00 to $600.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Finally, JPMorgan Chase & Co. upped their price target on Spotify Technology from $600.00 to $650.00 and gave the stock an “overweight” rating in a research note on Friday, May 22nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Spotify Technology currently has an average rating of “Moderate Buy” and a consensus price target of $655.92.

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.