Park Avenue Securities LLC Purchases 275 Shares of Spotify Technology S.A. (NYSE:SPOT)

Park Avenue Securities LLC raised its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 16.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,943 shares of the company’s stock after acquiring an additional 275 shares during the period. Park Avenue Securities LLC’s holdings in Spotify Technology were worth $513,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Lindbrook Capital LLC increased its position 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 acquiring an additional 50 shares during the last quarter. Signaturefd LLC increased its position in Spotify Technology by 4.4% during the fourth quarter. Signaturefd LLC now owns 1,222 shares of the company’s stock valued at $230,000 after acquiring an additional 51 shares during the last quarter. Summit Trail Advisors LLC increased its position in Spotify Technology by 3.5% during the fourth quarter. Summit Trail Advisors LLC now owns 1,664 shares of the company’s stock valued at $313,000 after acquiring an additional 56 shares during the last quarter. Private Trust Co. NA boosted its stake in shares of Spotify Technology by 18.4% during the fourth quarter. Private Trust Co. NA now owns 367 shares of the company’s stock valued at $69,000 after purchasing an additional 57 shares during the period. Finally, Delta Asset Management LLC TN boosted its stake in shares of Spotify Technology by 6.7% during the fourth quarter. Delta Asset Management LLC TN now owns 960 shares of the company’s stock valued at $180,000 after purchasing an additional 60 shares during the period. Institutional investors own 84.09% of the company’s stock.

Analyst Ratings Changes

SPOT has been the subject of a number of recent analyst reports. Bank of America boosted their target price on shares of Spotify Technology from $315.00 to $370.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Macquarie boosted their target price on shares of Spotify Technology from $300.00 to $330.00 and gave the company an “outperform” rating in a research note on Monday, April 22nd. Barclays boosted their target price on shares of Spotify Technology from $335.00 to $350.00 and gave the company an “overweight” rating in a research note on Wednesday, April 24th. JPMorgan Chase & Co. boosted their target price on shares of Spotify Technology from $365.00 to $375.00 and gave the company an “overweight” rating in a research note on Tuesday, June 4th. Finally, HSBC boosted their target price on shares of Spotify Technology from $310.00 to $355.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Eight investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, Spotify Technology currently has an average rating of “Moderate Buy” and an average price target of $311.48.

Spotify Technology Stock Down 0.5 %

SPOT opened at $313.79 on Friday. Spotify Technology S.A. has a 52-week low of $129.23 and a 52-week high of $331.08. The company has a market cap of $59.68 billion, a P/E ratio of -468.34 and a beta of 1.61. The firm’s 50-day moving average price is $303.83 and its 200-day moving average price is $260.45.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings data 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 the consensus estimate 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 prior year, the company posted ($1.24) earnings per share. On average, research analysts anticipate that Spotify Technology S.A. will post 4.95 EPS for the current fiscal year.

Spotify Technology Company 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.