MASTERINVEST Kapitalanlage GmbH Raises Stake in Spotify Technology $SPOT

MASTERINVEST Kapitalanlage GmbH increased its stake in Spotify Technology (NYSE:SPOTFree Report) by 26.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 5,326 shares of the company’s stock after buying an additional 1,126 shares during the period. MASTERINVEST Kapitalanlage GmbH’s holdings in Spotify Technology were worth $3,071,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. KERR FINANCIAL PLANNING Corp purchased a new position in shares of Spotify Technology in the 3rd quarter worth about $26,000. Greykasell Wealth Strategies Inc. boosted its holdings in shares of Spotify Technology by 3,800.0% in the 3rd quarter. Greykasell Wealth Strategies Inc. now owns 39 shares of the company’s stock worth $27,000 after buying an additional 38 shares during the last quarter. Westfuller Advisors LLC purchased a new position in shares of Spotify Technology in the 3rd quarter worth about $29,000. Albion Financial Group UT boosted its holdings in shares of Spotify Technology by 80.0% in the 3rd quarter. Albion Financial Group UT now owns 45 shares of the company’s stock worth $31,000 after buying an additional 20 shares during the last quarter. Finally, Salomon & Ludwin LLC boosted its holdings in shares of Spotify Technology by 2,500.0% in the 3rd quarter. Salomon & Ludwin LLC now owns 52 shares of the company’s stock worth $35,000 after buying an additional 50 shares during the last quarter. 84.09% of the stock is owned by hedge funds and other institutional investors.

More Spotify Technology News

Here are the key news stories impacting Spotify Technology this week:

Insider Activity

In other news, CEO Gustav Soderstrom sold 20,833 shares of the company’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $473.52, for a total transaction of $9,864,842.16. Following the sale, the chief executive officer directly owned 20,609 shares in the company, valued at $9,758,773.68. This represents a 50.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Alex Norstrom sold 5,436 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $479.51, for a total value of $2,606,616.36. Following the sale, the chief executive officer owned 69,989 shares in the company, valued at approximately $33,560,425.39. This represents a 7.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SPOT. Citigroup upgraded Spotify Technology from a “neutral” rating to a “buy” rating and set a $650.00 price objective on the stock in a research note on Friday, January 30th. Morgan Stanley started coverage on shares of Spotify Technology in a research report on Monday, April 13th. They set an “overweight” rating and a $630.00 target price for the company. Moffett Nathanson started coverage on shares of Spotify Technology in a research report on Tuesday, January 27th. They set a “neutral” rating and a $487.00 target price for the company. Guggenheim cut their target price on shares of Spotify Technology from $720.00 to $600.00 and set a “buy” rating for the company in a research report on Tuesday, February 24th. Finally, The Goldman Sachs Group upgraded shares of Spotify Technology from a “neutral” rating to a “buy” rating and cut their target price for the stock from $735.00 to $700.00 in a research report on Friday, January 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $690.17.

View Our Latest Research Report on SPOT

Spotify Technology Stock Up 0.9%

Shares of SPOT opened at $536.13 on Friday. The business’s 50-day moving average price is $494.42 and its 200-day moving average price is $559.16. Spotify Technology has a twelve month low of $405.00 and a twelve month high of $785.00. The stock has a market cap of $110.38 billion, a PE ratio of 55.61, a P/E/G ratio of 1.17 and a beta of 1.70.

Spotify Technology (NYSE:SPOTGet Free Report) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $3.16 by $2.00. Spotify Technology had a return on equity of 31.35% and a net margin of 13.16%.The firm had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same period in the prior year, the business posted $1.88 earnings per share. The company’s revenue was up 6.8% on a year-over-year basis. Analysts expect that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Spotify Technology Profile

(Free Report)

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.

Featured Stories

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Institutional Ownership by Quarter for Spotify Technology (NYSE:SPOT)

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