Spotify Technology S.A. (NYSE:SPOT) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC lifted its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 96.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 334 shares of the company’s stock after acquiring an additional 164 shares during the quarter. GAMMA Investing LLC’s holdings in Spotify Technology were worth $88,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SPOT. Pinnacle Bancorp Inc. acquired a new position in shares of Spotify Technology during the 4th quarter valued at $29,000. Lindbrook Capital LLC lifted its stake in Spotify Technology by 32.3% during the fourth quarter. Lindbrook Capital LLC now owns 205 shares of the company’s stock valued at $39,000 after purchasing an additional 50 shares during the last quarter. Beaird Harris Wealth Management LLC boosted its holdings in 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 in the last quarter. Quadrant Capital Group LLC grew its position in Spotify Technology by 191.4% in the fourth quarter. Quadrant Capital Group LLC now owns 271 shares of the company’s stock worth $51,000 after buying an additional 178 shares during the last quarter. Finally, FNY Investment Advisers LLC bought a new position in shares of Spotify Technology in the fourth quarter valued at $54,000. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Price Performance

Shares of NYSE:SPOT opened at $317.74 on Monday. The business’s 50 day moving average is $301.09 and its 200-day moving average is $257.13. Spotify Technology S.A. has a 1-year low of $129.23 and a 1-year high of $331.08.

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

Analyst Upgrades and Downgrades

SPOT has been the topic of a number of recent research reports. Macquarie lifted their target price on Spotify Technology from $300.00 to $330.00 and gave the stock an “outperform” rating in a report on Monday, April 22nd. Canaccord Genuity Group boosted their price objective on Spotify Technology from $315.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Guggenheim raised their target price on shares of Spotify Technology from $290.00 to $350.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. KeyCorp boosted their price target on shares of Spotify Technology from $300.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Finally, Raymond James raised their price objective on shares of Spotify Technology from $260.00 to $320.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Eight investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $311.48.

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.