Duality Advisers LP Makes New $837,000 Investment in Spotify Technology S.A. (NYSE:SPOT)

Duality Advisers LP acquired a new position in shares of Spotify Technology S.A. (NYSE:SPOT) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 4,455 shares of the company’s stock, valued at approximately $837,000.

Several other hedge funds also recently added to or reduced their stakes in SPOT. Wellington Management Group LLP grew its holdings in Spotify Technology by 61.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,970,540 shares of the company’s stock worth $459,364,000 after acquiring an additional 1,133,305 shares in the last quarter. Schroder Investment Management Group boosted its holdings in shares of Spotify Technology by 303.4% in the 3rd quarter. Schroder Investment Management Group now owns 1,315,289 shares of the company’s stock valued at $203,396,000 after buying an additional 989,243 shares during the period. Artisan Partners Limited Partnership boosted its holdings in shares of Spotify Technology by 194.7% in the 3rd quarter. Artisan Partners Limited Partnership now owns 1,123,078 shares of the company’s stock valued at $173,673,000 after buying an additional 741,955 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Spotify Technology by 16.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,699,008 shares of the company’s stock valued at $572,015,000 after buying an additional 523,237 shares during the period. Finally, Citigroup Inc. boosted its holdings in shares of Spotify Technology by 1,037.4% in the 3rd quarter. Citigroup Inc. now owns 386,191 shares of the company’s stock valued at $59,721,000 after buying an additional 352,237 shares during the period. 84.09% of the stock is owned by institutional investors and hedge funds.

Spotify Technology Trading Down 7.2 %

NYSE:SPOT opened at $281.34 on Thursday. The stock has a market cap of $55.80 billion, a P/E ratio of -419.90 and a beta of 1.63. The stock’s 50-day moving average is $269.74 and its 200-day moving average is $217.24. Spotify Technology S.A. has a 1-year low of $128.67 and a 1-year high of $319.30.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.42. The company had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.87 billion. Spotify Technology had a negative return on equity of 4.91% and a negative net margin of 0.80%. During the same period in the previous year, the firm earned ($1.24) earnings per share. As a group, equities analysts forecast that Spotify Technology S.A. will post 3.52 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on SPOT. TheStreet raised shares of Spotify Technology from a “d+” rating to a “c-” rating in a report on Friday, February 9th. Morgan Stanley lifted their price objective on shares of Spotify Technology from $270.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday. Bank of America lifted their price objective on shares of Spotify Technology from $315.00 to $370.00 and gave the company a “buy” rating in a research report on Wednesday. Guggenheim lifted their price objective on shares of Spotify Technology from $290.00 to $350.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Spotify Technology from $260.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Eight investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $301.81.

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.