Raelipskie Partnership Takes $1.02 Million Position in Spotify Technology $SPOT

Raelipskie Partnership purchased a new position in shares of Spotify Technology (NYSE:SPOT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,461 shares of the company’s stock, valued at approximately $1,020,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SPOT. Joel Isaacson & Co. LLC increased its holdings in shares of Spotify Technology by 1.0% in the second quarter. Joel Isaacson & Co. LLC now owns 1,551 shares of the company’s stock valued at $1,190,000 after purchasing an additional 15 shares during the period. Ignite Planners LLC lifted its holdings in shares of Spotify Technology by 2.4% during the second quarter. Ignite Planners LLC now owns 637 shares of the company’s stock worth $489,000 after purchasing an additional 15 shares during the period. Sage Mountain Advisors LLC grew its position in Spotify Technology by 6.3% in the 3rd quarter. Sage Mountain Advisors LLC now owns 289 shares of the company’s stock valued at $201,000 after buying an additional 17 shares during the last quarter. Cloud Capital Management LLC grew its position in Spotify Technology by 4.8% in the 2nd quarter. Cloud Capital Management LLC now owns 392 shares of the company’s stock valued at $301,000 after buying an additional 18 shares during the last quarter. Finally, Fullerton Fund Management Co Ltd. increased its stake in Spotify Technology by 7.0% in the 2nd quarter. Fullerton Fund Management Co Ltd. now owns 276 shares of the company’s stock valued at $212,000 after buying an additional 18 shares during the period. 84.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SPOT has been the subject of several recent analyst reports. UBS Group reduced their target price on shares of Spotify Technology from $850.00 to $800.00 and set a “buy” rating for the company in a research note on Friday, January 9th. Rosenblatt Securities reduced their price objective on shares of Spotify Technology from $700.00 to $670.00 and set a “neutral” rating for the company in a research report on Wednesday, November 5th. Erste Group Bank downgraded Spotify Technology from a “buy” rating to a “hold” rating in a research note on Friday, December 5th. Phillip Securities upgraded Spotify Technology from a “hold” rating to a “moderate buy” rating in a research note on Monday, November 10th. Finally, Benchmark cut their price objective on Spotify Technology from $860.00 to $760.00 and set a “buy” rating for the company in a research report on Friday, January 16th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $727.71.

Spotify Technology Price Performance

Shares of Spotify Technology stock opened at $508.85 on Tuesday. Spotify Technology has a 1 year low of $475.01 and a 1 year high of $785.00. The business has a 50 day moving average price of $557.25 and a 200 day moving average price of $635.03. The company has a market capitalization of $104.77 billion, a P/E ratio of 80.01, a P/E/G ratio of 0.96 and a beta of 1.66.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings results on Tuesday, November 4th. The company reported $3.83 earnings per share for the quarter, topping the consensus estimate of $1.87 by $1.96. Spotify Technology had a return on equity of 21.68% and a net margin of 8.46%.The company had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.23 billion. During the same quarter last year, the business posted $1.45 earnings per share. Spotify Technology’s revenue was up 7.1% compared to the same quarter last year. As a group, research analysts expect that Spotify Technology will post 10.3 EPS for the current fiscal year.

Spotify Technology Company 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.