Rhumbline Advisers Purchases 1,181 Shares of Spotify Technology S.A. (NYSE:SPOT)

Rhumbline Advisers raised its holdings in shares of Spotify Technology S.A. (NYSE:SPOTGet Rating) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 131,252 shares of the company’s stock after acquiring an additional 1,181 shares during the quarter. Rhumbline Advisers owned approximately 0.07% of Spotify Technology worth $30,717,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Morgan Stanley grew its position in shares of Spotify Technology by 3.2% during the second quarter. Morgan Stanley now owns 19,265,688 shares of the company’s stock worth $5,309,432,000 after purchasing an additional 589,486 shares in the last quarter. Alliancebernstein L.P. grew its holdings in Spotify Technology by 40.8% during the 3rd quarter. Alliancebernstein L.P. now owns 97,069 shares of the company’s stock valued at $21,874,000 after buying an additional 28,137 shares in the last quarter. AlphaCrest Capital Management LLC raised its position in shares of Spotify Technology by 755.9% during the third quarter. AlphaCrest Capital Management LLC now owns 7,806 shares of the company’s stock valued at $1,759,000 after buying an additional 6,894 shares during the last quarter. Eagle Asset Management Inc. raised its position in shares of Spotify Technology by 1.3% during the third quarter. Eagle Asset Management Inc. now owns 157,648 shares of the company’s stock valued at $35,524,000 after buying an additional 2,085 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in shares of Spotify Technology by 3.0% in the third quarter. US Bancorp DE now owns 20,749 shares of the company’s stock worth $4,676,000 after buying an additional 611 shares in the last quarter. Institutional investors and hedge funds own 56.36% of the company’s stock.

Shares of NYSE:SPOT opened at $104.40 on Thursday. The business’s 50-day moving average is $126.78 and its 200 day moving average is $183.69. Spotify Technology S.A. has a 1 year low of $89.03 and a 1 year high of $305.60. The firm has a market capitalization of $19.86 billion, a P/E ratio of -147.04 and a beta of 1.80.

Spotify Technology (NYSE:SPOTGet Rating) last issued its quarterly earnings results on Wednesday, April 27th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.40. The business had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.61 billion. Spotify Technology had a return on equity of 3.02% and a net margin of 0.68%. The company’s revenue was up 23.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.30) earnings per share. On average, equities analysts predict that Spotify Technology S.A. will post -0.59 earnings per share for the current fiscal year.

A number of analysts have issued reports on the stock. The Goldman Sachs Group reduced their price target on shares of Spotify Technology from $181.00 to $150.00 in a report on Wednesday, April 27th. KeyCorp reduced their price objective on Spotify Technology from $260.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, April 14th. Jefferies Financial Group lowered their target price on Spotify Technology from $358.00 to $275.00 and set a “buy” rating for the company in a research report on Thursday, February 3rd. Wells Fargo & Company dropped their price objective on shares of Spotify Technology from $153.00 to $101.00 in a research note on Thursday, April 28th. Finally, TheStreet cut shares of Spotify Technology from a “c-” rating to a “d+” rating in a research report on Tuesday, March 15th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $214.31.

About Spotify Technology (Get Rating)

Spotify Technology SA, together with its subsidiaries, provides audio streaming services worldwide. It operates through Premium and Ad-Supported segments. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.

Featured Stories

Want to see what other hedge funds are holding SPOT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Spotify Technology S.A. (NYSE:SPOTGet Rating).

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

Receive News & Ratings for Spotify Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spotify Technology and related companies with MarketBeat.com's FREE daily email newsletter.