International Assets Investment Management LLC Makes New $32.94 Million Investment in Spotify Technology S.A. (NYSE:SPOT)

International Assets Investment Management LLC purchased a new stake in shares of Spotify Technology S.A. (NYSE:SPOT) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 175,320 shares of the company’s stock, valued at approximately $32,944,000. International Assets Investment Management LLC owned about 0.09% of Spotify Technology as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of SPOT. First Horizon Advisors Inc. boosted its holdings in Spotify Technology by 195.0% in 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. Beaird Harris Wealth Management LLC increased its position 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 buying an additional 254 shares during the period. FNY Investment Advisers LLC bought a new position in Spotify Technology during the fourth quarter worth $54,000. Private Trust Co. NA lifted its holdings in Spotify Technology by 18.4% in the fourth quarter. Private Trust Co. NA now owns 367 shares of the company’s stock valued at $69,000 after buying an additional 57 shares during the period. Finally, Anchor Investment Management LLC bought a new stake in Spotify Technology during the fourth quarter valued at $90,000. Institutional investors and hedge funds own 84.09% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on SPOT shares. JPMorgan Chase & Co. lifted their price objective on Spotify Technology from $320.00 to $365.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 24th. Piper Sandler restated a “neutral” rating and set a $320.00 price target (up from $300.00) on shares of Spotify Technology in a report on Wednesday, April 24th. Loop Capital lifted their price objective on shares of Spotify Technology from $165.00 to $250.00 and gave the company a “hold” rating in a research note on Monday, April 22nd. TheStreet upgraded shares of Spotify Technology from a “d+” rating to a “c-” rating in a research report on Friday, February 9th. Finally, UBS Group raised their price target on shares of Spotify Technology from $274.00 to $375.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Eight equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $301.81.

Spotify Technology Stock Up 0.6 %

Spotify Technology stock opened at $296.07 on Friday. The company has a market capitalization of $56.31 billion, a P/E ratio of -441.89 and a beta of 1.61. The firm has a 50 day moving average price of $274.73 and a 200-day moving average price of $222.27. Spotify Technology S.A. has a twelve month low of $129.23 and a twelve month high of $319.30.

Spotify Technology (NYSE:SPOT) last released its earnings results on Tuesday, April 23rd. The company reported $1.05 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.87 billion. During the same period last year, the business posted ($1.24) earnings per share. Equities analysts expect that Spotify Technology S.A. will post 4.49 EPS for the current fiscal year.

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.