Assenagon Asset Management S.A. Increases Stake in Spotify Technology S.A. (NYSE:SPOT)

Assenagon Asset Management S.A. increased its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 410.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 97,771 shares of the company’s stock after buying an additional 78,609 shares during the period. Assenagon Asset Management S.A. owned about 0.05% of Spotify Technology worth $18,372,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. increased its position in shares of Spotify Technology by 10.3% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 24,266 shares of the company’s stock valued at $4,560,000 after purchasing an additional 2,263 shares during the last quarter. Raymond James & Associates increased its position in shares of Spotify Technology by 19.0% in the 4th quarter. Raymond James & Associates now owns 38,410 shares of the company’s stock valued at $7,218,000 after purchasing an additional 6,139 shares during the last quarter. Rheos Capital Works Inc. increased its position in shares of Spotify Technology by 205.7% in the 4th quarter. Rheos Capital Works Inc. now owns 107,000 shares of the company’s stock valued at $20,106,000 after purchasing an additional 72,000 shares during the last quarter. CoreCap Advisors LLC acquired a new position in shares of Spotify Technology in the 4th quarter valued at $210,000. Finally, FNY Investment Advisers LLC acquired a new position in shares of Spotify Technology in the 4th quarter valued at $54,000. 84.09% of the stock is owned by hedge funds and other institutional investors.

Spotify Technology Stock Down 1.0 %

Shares of SPOT opened at $260.21 on Thursday. Spotify Technology S.A. has a twelve month low of $126.83 and a twelve month high of $278.30. The stock’s 50 day moving average is $241.86 and its two-hundred day moving average is $198.29.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings data on Tuesday, February 6th. The company reported ($0.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.01. Spotify Technology had a negative return on equity of 23.43% and a negative net margin of 4.01%. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the previous year, the company earned ($1.43) EPS. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. As a group, analysts anticipate that Spotify Technology S.A. will post 3.53 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SPOT shares. Bank of America upped their target price on shares of Spotify Technology from $265.00 to $315.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Citigroup restated a “neutral” rating and issued a $190.00 target price on shares of Spotify Technology in a report on Friday, December 1st. DZ Bank upgraded shares of Spotify Technology from a “sell” rating to a “hold” rating and set a $240.00 target price for the company in a report on Wednesday, February 7th. Rosenblatt Securities increased their price target on shares of Spotify Technology from $300.00 to $315.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Finally, Wells Fargo & Company increased their price target 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. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $235.36.

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.