CoreCap Advisors LLC Purchases New Shares in Spotify Technology S.A. (NYSE:SPOT)

CoreCap Advisors LLC purchased a new stake in shares of Spotify Technology S.A. (NYSE:SPOT) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,119 shares of the company’s stock, valued at approximately $210,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Technology Crossover Management XI Ltd. increased its holdings in Spotify Technology by 36.2% during the 3rd quarter. Technology Crossover Management XI Ltd. now owns 1,297,323 shares of the company’s stock valued at $200,618,000 after purchasing an additional 344,841 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Spotify Technology by 7.9% in the 4th quarter. Nordea Investment Management AB now owns 248,659 shares of the company’s stock valued at $46,927,000 after buying an additional 18,105 shares during the period. GSA Capital Partners LLP increased its stake in shares of Spotify Technology by 452.4% in the 3rd quarter. GSA Capital Partners LLP now owns 14,242 shares of the company’s stock valued at $2,202,000 after buying an additional 11,664 shares during the period. Armistice Capital LLC acquired a new stake in shares of Spotify Technology in the 3rd quarter valued at $2,609,000. Finally, Graham Capital Management L.P. increased its stake in shares of Spotify Technology by 95.7% in the 3rd quarter. Graham Capital Management L.P. now owns 45,062 shares of the company’s stock valued at $6,968,000 after buying an additional 22,035 shares during the period. 84.09% of the stock is owned by institutional investors and hedge funds.

Spotify Technology Stock Down 1.0 %

SPOT stock opened at $260.21 on Thursday. The business has a 50-day moving average of $241.86 and a 200-day moving average of $198.29. Spotify Technology S.A. has a fifty-two week low of $126.83 and a fifty-two week high of $278.30.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings data on Tuesday, February 6th. The company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.01. The company had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Spotify Technology had a negative return on equity of 23.43% and a negative net margin of 4.01%. Spotify Technology’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.43) earnings per share. On average, equities analysts predict that Spotify Technology S.A. will post 3.53 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SPOT has been the subject of several research reports. KeyCorp lifted their target price on Spotify Technology from $255.00 to $300.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. Pivotal Research lifted their target price on Spotify Technology from $265.00 to $330.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. DZ Bank raised Spotify Technology from a “sell” rating to a “hold” rating and set a $240.00 price objective for the company in a research note on Wednesday, February 7th. Benchmark lifted their price objective on Spotify Technology from $260.00 to $290.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Finally, Citigroup reaffirmed a “neutral” rating and set a $190.00 price objective on shares of Spotify Technology in a research note on Friday, December 1st. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $235.36.

Spotify Technology Company 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.