Virtu Financial LLC Makes New $221,000 Investment in Spotify Technology S.A. (NYSE:SPOT)

Virtu Financial LLC acquired a new position in Spotify Technology S.A. (NYSE:SPOT) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,177 shares of the company’s stock, valued at approximately $221,000.

A number of other large investors have also added to or reduced their stakes in SPOT. Kestra Advisory Services LLC increased its stake in Spotify Technology by 12.4% in the 3rd quarter. Kestra Advisory Services LLC now owns 5,221 shares of the company’s stock worth $807,000 after acquiring an additional 575 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in Spotify Technology in the 3rd quarter worth approximately $397,000. Envestnet Asset Management Inc. increased its stake in Spotify Technology by 58.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 91,553 shares of the company’s stock worth $14,158,000 after acquiring an additional 33,682 shares during the last quarter. FMR LLC boosted its holdings in shares of Spotify Technology by 6.8% in the 3rd quarter. FMR LLC now owns 538,053 shares of the company’s stock worth $83,205,000 after purchasing an additional 34,104 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of Spotify Technology by 25.0% in the 3rd quarter. Invesco Ltd. now owns 171,986 shares of the company’s stock worth $26,596,000 after purchasing an additional 34,370 shares during the period. Institutional investors own 84.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SPOT. Canaccord Genuity Group lifted their target price on Spotify Technology from $315.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. UBS Group lifted their target price on Spotify Technology from $274.00 to $375.00 and gave the stock a “buy” rating in a report on Friday, April 5th. JPMorgan Chase & Co. lifted their target price on Spotify Technology from $365.00 to $375.00 and gave the stock an “overweight” rating in a report on Tuesday, June 4th. Bank of America lifted their target price on Spotify Technology from $315.00 to $370.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, Barclays boosted their price objective on Spotify Technology from $335.00 to $350.00 and gave the company an “overweight” rating in a report on Wednesday, April 24th. Eight research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $311.48.

Spotify Technology Trading Up 1.2 %

SPOT opened at $317.74 on Friday. The firm has a market cap of $60.43 billion, a price-to-earnings ratio of -474.23 and a beta of 1.61. Spotify Technology S.A. has a 12 month low of $129.23 and a 12 month high of $331.08. The stock has a fifty day moving average price of $301.09 and a 200-day moving average price of $256.69.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.63 by $0.42. The firm had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.87 billion. Spotify Technology had a negative return on equity of 4.39% and a negative net margin of 0.80%. During the same period in the previous year, the company posted ($1.24) EPS. On average, equities research analysts forecast that Spotify Technology S.A. will post 4.95 EPS for the current year.

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.