Spotify Technology $SPOT Shares Bought by Maytus Capital Management LLC

Maytus Capital Management LLC grew its holdings in shares of Spotify Technology (NYSE:SPOT) by 13.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 11,500 shares of the company’s stock after acquiring an additional 1,400 shares during the quarter. Spotify Technology comprises approximately 1.6% of Maytus Capital Management LLC’s holdings, making the stock its 24th largest position. Maytus Capital Management LLC’s holdings in Spotify Technology were worth $6,678,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in SPOT. KERR FINANCIAL PLANNING Corp acquired a new position in Spotify Technology during the 3rd quarter worth $26,000. Kemnay Advisory Services Inc. acquired a new position in Spotify Technology during the 4th quarter worth $32,000. Newbridge Financial Services Group Inc. acquired a new position in Spotify Technology during the 4th quarter worth $35,000. JPL Wealth Management LLC acquired a new position in Spotify Technology during the 3rd quarter worth $35,000. Finally, Wilmington Savings Fund Society FSB boosted its position in Spotify Technology by 85.7% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 65 shares of the company’s stock worth $38,000 after acquiring an additional 30 shares during the period. Institutional investors and hedge funds own 84.09% of the company’s stock.

Wall Street Analysts Forecast Growth

SPOT has been the subject of a number of analyst reports. Barclays boosted their price target on Spotify Technology from $500.00 to $565.00 and gave the stock an “overweight” rating in a research report on Friday, May 22nd. UBS Group dropped their price objective on Spotify Technology from $760.00 to $735.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Arete Research raised Spotify Technology from a “neutral” rating to a “buy” rating and set a $586.00 price objective on the stock in a research note on Thursday, February 26th. JPMorgan Chase & Co. boosted their price objective on Spotify Technology from $600.00 to $650.00 and gave the stock an “overweight” rating in a research note on Friday, May 22nd. Finally, Wall Street Zen downgraded Spotify Technology from a “buy” rating to a “hold” rating in a research note on Saturday. Two research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $652.16.

Spotify Technology Stock Performance

SPOT opened at $470.81 on Wednesday. Spotify Technology has a one year low of $405.00 and a one year high of $785.00. The stock’s fifty day moving average is $482.23 and its 200-day moving average is $508.74. The company has a market capitalization of $96.93 billion, a PE ratio of 37.51, a P/E/G ratio of 1.17 and a beta of 1.56.

Spotify Technology (NYSE:SPOT) last announced its earnings results on Tuesday, April 28th. The company reported $4.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.41 by $0.63. The company had revenue of $5.25 billion for 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 for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.07 earnings per share. On average, equities research analysts forecast that Spotify Technology will post 14.71 EPS for the current fiscal year.

Insider Activity at Spotify Technology

In other news, Director Christopher P. Marshall sold 2,650 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $519.86, for a total transaction of $1,377,629.00. Following the sale, the director directly owned 4,039 shares of the company’s stock, valued at $2,099,714.54. The trade was a 39.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sven Hans Martin Lorentzon sold 35,380 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 111,442 shares of company stock valued at $54,647,508 over the last ninety days. Company insiders own 0.40% of the company’s stock.

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.