Spotify Technology S.A. (NYSE:SPOT) Shares Acquired by National Bank of Canada FI

National Bank of Canada FI increased its position in Spotify Technology S.A. (NYSE:SPOT) by 1,581.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 50,836 shares of the company’s stock after purchasing an additional 47,813 shares during the period. National Bank of Canada FI’s holdings in Spotify Technology were worth $9,598,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Technology Crossover Management XI Ltd. raised its stake in Spotify Technology by 36.2% during the third quarter. Technology Crossover Management XI Ltd. now owns 1,297,323 shares of the company’s stock worth $200,618,000 after acquiring an additional 344,841 shares during the period. Nordea Investment Management AB grew its position in shares of Spotify Technology by 7.9% during the fourth quarter. Nordea Investment Management AB now owns 248,659 shares of the company’s stock worth $46,927,000 after acquiring an additional 18,105 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Spotify Technology by 410.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 97,771 shares of the company’s stock valued at $18,372,000 after purchasing an additional 78,609 shares during the last quarter. GSA Capital Partners LLP boosted its stake in Spotify Technology by 452.4% during the 3rd quarter. GSA Capital Partners LLP now owns 14,242 shares of the company’s stock valued at $2,202,000 after purchasing an additional 11,664 shares during the period. Finally, Rheos Capital Works Inc. grew its position in Spotify Technology by 205.7% in the 4th quarter. Rheos Capital Works Inc. now owns 107,000 shares of the company’s stock worth $20,106,000 after purchasing an additional 72,000 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Stock Performance

SPOT stock opened at $298.67 on Friday. The firm has a 50 day simple moving average of $278.26 and a 200 day simple moving average of $226.82. Spotify Technology S.A. has a 52 week low of $129.23 and a 52 week high of $319.30. The stock has a market cap of $56.81 billion, a P/E ratio of -445.78 and a beta of 1.61.

Spotify Technology (NYSE:SPOT) last issued its earnings results on Tuesday, April 23rd. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.42. Spotify Technology had a negative net margin of 0.80% and a negative return on equity of 4.39%. The company had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.87 billion. During the same quarter last year, the business posted ($1.24) EPS. Sell-side analysts predict that Spotify Technology S.A. will post 4.78 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on SPOT. HSBC boosted their price objective on Spotify Technology from $310.00 to $355.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. UBS Group increased their price target on Spotify Technology from $274.00 to $375.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Macquarie upped their price objective on shares of Spotify Technology from $300.00 to $330.00 and gave the stock an “outperform” rating in a report on Monday, April 22nd. Deutsche Bank Aktiengesellschaft increased their target price 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. Finally, The Goldman Sachs Group upped their price target on shares of Spotify Technology from $277.00 to $317.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Eight investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $306.42.

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.