24,500 Shares in Spotify Technology $SPOT Purchased by Tredje AP fonden

Tredje AP fonden acquired a new stake in shares of Spotify Technology (NYSE:SPOT) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 24,500 shares of the company’s stock, valued at approximately $17,101,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Knuff & Co LLC bought a new stake in shares of Spotify Technology in the second quarter valued at approximately $27,000. Total Investment Management Inc. bought a new position in Spotify Technology in the 2nd quarter worth approximately $29,000. Heartwood Wealth Advisors LLC purchased a new position in Spotify Technology in the 3rd quarter valued at approximately $27,000. Greykasell Wealth Strategies Inc. raised its holdings in Spotify Technology by 3,800.0% during the 3rd quarter. Greykasell Wealth Strategies Inc. now owns 39 shares of the company’s stock valued at $27,000 after acquiring an additional 38 shares during the period. Finally, Westfuller Advisors LLC bought a new stake in Spotify Technology during the 3rd quarter valued at $29,000. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Trading Up 1.2%

Shares of NYSE SPOT opened at $490.98 on Friday. The business has a 50-day moving average of $521.83 and a 200-day moving average of $615.08. The firm has a market capitalization of $101.06 billion, a price-to-earnings ratio of 50.93, a PEG ratio of 1.07 and a beta of 1.66. Spotify Technology has a 12 month low of $405.00 and a 12 month high of $785.00.

Spotify Technology (NYSE:SPOT) last announced its earnings results on Tuesday, February 10th. The company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.16 by $2.00. The business had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.14 billion. Spotify Technology had a net margin of 13.16% and a return on equity of 31.35%. Spotify Technology’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.88 earnings per share. On average, analysts predict that Spotify Technology will post 10.3 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on SPOT shares. UBS Group cut their price target on Spotify Technology from $850.00 to $800.00 and set a “buy” rating for the company in a report on Friday, January 9th. Wall Street Zen upgraded Spotify Technology from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. The Goldman Sachs Group raised Spotify Technology from a “neutral” rating to a “buy” rating and reduced their target price for the company from $735.00 to $700.00 in a report on Friday, January 23rd. Citigroup upgraded Spotify Technology from a “neutral” rating to a “buy” rating and set a $650.00 price target on the stock in a research report on Friday, January 30th. Finally, Cantor Fitzgerald cut their price objective on shares of Spotify Technology from $615.00 to $525.00 and set a “neutral” rating for the company in a research report on Wednesday, February 11th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $706.42.

Spotify Technology 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.