Picton Mahoney Asset Management Buys 4,195 Shares of Spotify Technology S.A. (NYSE:SPOT)

Picton Mahoney Asset Management boosted its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 5.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,581 shares of the company’s stock after purchasing an additional 4,195 shares during the quarter. Picton Mahoney Asset Management’s holdings in Spotify Technology were worth $14,203,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of SPOT. First Horizon Advisors Inc. lifted its position in Spotify Technology by 195.0% during the third quarter. First Horizon Advisors Inc. now owns 177 shares of the company’s stock valued at $27,000 after acquiring an additional 117 shares during the last quarter. Pinnacle Bancorp Inc. acquired a new stake in shares of Spotify Technology in the 4th quarter worth $29,000. GAMMA Investing LLC acquired a new position in Spotify Technology during the 4th quarter valued at about $32,000. Lindbrook Capital LLC raised its stake in 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 buying an additional 50 shares during the last quarter. Finally, Beaird Harris Wealth Management LLC grew its stake in shares of Spotify Technology by 2,540.0% during 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. 84.09% of the stock is owned by hedge funds and other institutional investors.

Spotify Technology Stock Down 0.4 %

Shares of Spotify Technology stock traded down $1.27 during mid-day trading on Tuesday, reaching $298.21. 1,332,125 shares of the stock traded hands, compared to its average volume of 2,151,052. The business has a 50-day moving average of $277.33 and a 200 day moving average of $226.31. The stock has a market capitalization of $56.72 billion, a PE ratio of -445.08 and a beta of 1.61. Spotify Technology S.A. has a fifty-two week low of $129.23 and a fifty-two week high of $319.30.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.42. Spotify Technology had a negative return on equity of 4.39% and a negative net margin of 0.80%. The company had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.87 billion. During the same quarter last year, the firm posted ($1.24) EPS. On average, equities research analysts expect that Spotify Technology S.A. will post 4.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SPOT. Macquarie upped their price target on shares of Spotify Technology from $300.00 to $330.00 and gave the company an “outperform” rating in a research note on Monday, April 22nd. Deutsche Bank Aktiengesellschaft lifted their price target on Spotify Technology from $260.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Guggenheim raised their price objective on Spotify Technology from $290.00 to $350.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. UBS Group upped their target price on Spotify Technology from $274.00 to $375.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Finally, Morgan Stanley raised their price target on shares of Spotify Technology from $270.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Eight research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, Spotify Technology currently has an average rating of “Moderate Buy” and an average target price of $306.42.

About Spotify Technology

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.