Semanteon Capital Management LP Invests $1.03 Million in Spotify Technology S.A. (NYSE:SPOT)

Semanteon Capital Management LP bought a new stake in Spotify Technology S.A. (NYSE:SPOT) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,478 shares of the company’s stock, valued at approximately $1,029,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SPOT. First Horizon Advisors Inc. boosted its holdings in Spotify Technology by 195.0% during the third quarter. First Horizon Advisors Inc. now owns 177 shares of the company’s stock worth $27,000 after buying an additional 117 shares in the last quarter. Pinnacle Bancorp Inc. acquired a new position in shares of Spotify Technology during the fourth quarter valued at approximately $29,000. GAMMA Investing LLC purchased a new position in shares of Spotify Technology in the fourth quarter valued at approximately $32,000. Lindbrook Capital LLC lifted its position in shares of Spotify Technology by 32.3% in the fourth quarter. Lindbrook Capital LLC now owns 205 shares of the company’s stock valued at $39,000 after acquiring an additional 50 shares in the last quarter. Finally, Beaird Harris Wealth Management LLC boosted its stake in shares of Spotify Technology by 2,540.0% in the third quarter. Beaird Harris Wealth Management LLC now owns 264 shares of the company’s stock worth $41,000 after acquiring an additional 254 shares during the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Trading Up 2.8 %

Spotify Technology stock traded up $7.97 during trading on Thursday, hitting $289.20. The company had a trading volume of 3,709,773 shares, compared to its average volume of 2,202,149. The stock has a market cap of $57.36 billion, a price-to-earnings ratio of -431.64 and a beta of 1.63. Spotify Technology S.A. has a 1-year low of $128.67 and a 1-year high of $319.30. The company’s 50 day simple moving average is $270.61 and its 200-day simple moving average is $217.74.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.63 by $0.42. Spotify Technology had a negative return on equity of 4.91% and a negative net margin of 0.80%. The business had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.87 billion. During the same period last year, the business posted ($1.24) earnings per share. As a group, analysts forecast that Spotify Technology S.A. will post 3.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Wells Fargo & Company lifted their target price on shares of Spotify Technology from $250.00 to $280.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. JPMorgan Chase & Co. increased their price objective on shares of Spotify Technology from $320.00 to $365.00 and gave the company an “overweight” rating in a report on Wednesday. Piper Sandler restated a “neutral” rating and set a $320.00 target price (up from $300.00) on shares of Spotify Technology in a report on Wednesday. Barclays increased their price target on Spotify Technology from $335.00 to $350.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, UBS Group boosted their price objective on Spotify Technology from $274.00 to $375.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Eight analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $301.81.

Spotify Technology Profile

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