159,440 Shares in Spotify Technology $SPOT Purchased by Atalan Capital Partners LP

Atalan Capital Partners LP bought a new stake in Spotify Technology (NYSE:SPOT) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 159,440 shares of the company’s stock, valued at approximately $92,588,000. Spotify Technology accounts for about 6.6% of Atalan Capital Partners LP’s holdings, making the stock its 9th biggest holding.

Other hedge funds have also recently bought and sold shares of the company. KERR FINANCIAL PLANNING Corp bought a new position in Spotify Technology in the 3rd quarter valued at about $26,000. Kemnay Advisory Services Inc. bought a new stake in Spotify Technology in the fourth quarter valued at $32,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Spotify Technology in the 4th quarter worth $35,000. JPL Wealth Management LLC bought a new stake in shares of Spotify Technology in the 3rd quarter worth $35,000. Finally, Wilmington Savings Fund Society FSB boosted its holdings in shares of Spotify Technology by 85.7% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 65 shares of the company’s stock worth $38,000 after buying an additional 30 shares during the last quarter. 84.09% of the stock is owned by institutional investors.

Insider Buying and Selling at Spotify Technology

In other news, CEO Gustav Soderstrom sold 20,833 shares of the firm’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $473.52, for a total transaction of $9,864,842.16. Following the completion of the transaction, the chief executive officer directly owned 20,609 shares in the company, valued at $9,758,773.68. This trade represents a 50.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher P. Marshall sold 2,650 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $519.86, for a total value of $1,377,629.00. Following the transaction, the director owned 4,039 shares of the company’s stock, valued at $2,099,714.54. The trade was a 39.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 111,442 shares of company stock valued at $54,647,508. Company insiders own 0.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SPOT. UBS Group cut their price target on shares of Spotify Technology from $760.00 to $735.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Weiss Ratings raised shares of Spotify Technology from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 4th. Cantor Fitzgerald upped their price objective on shares of Spotify Technology from $430.00 to $520.00 and gave the company a “neutral” rating in a report on Tuesday, May 26th. Canaccord Genuity Group decreased their price target on Spotify Technology from $750.00 to $720.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Finally, Arete Research upgraded Spotify Technology from a “neutral” rating to a “buy” rating and set a $586.00 price target on the stock in a research report on Thursday, February 26th. Two research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Spotify Technology has an average rating of “Moderate Buy” and an average price target of $652.16.

Spotify Technology Stock Performance

NYSE:SPOT opened at $470.81 on Wednesday. The firm has a market cap of $96.93 billion, a PE ratio of 37.51, a price-to-earnings-growth ratio of 1.17 and a beta of 1.56. Spotify Technology has a fifty-two week low of $405.00 and a fifty-two week high of $785.00. The business has a 50 day moving average price of $482.23 and a 200-day moving average price of $508.74.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings data on Tuesday, April 28th. The company reported $4.04 earnings per share for the quarter, beating analysts’ consensus estimates of $3.41 by $0.63. Spotify Technology had a return on equity of 35.73% and a net margin of 15.56%.The firm had revenue of $5.25 billion during the quarter, compared to analyst estimates of $5.23 billion. During the same quarter in the prior year, the firm posted $1.07 earnings per share. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. Research analysts predict that Spotify Technology will post 14.71 EPS for the current year.

Spotify Technology Profile

Spotify Technology is a digital audio streaming company best known for its on-demand music service and a growing portfolio of spoken-word content. Founded in Sweden in 2006 by Daniel Ek and Martin Lorentzon and launched commercially in 2008, the company offers a cross-platform app that enables users to discover, stream and organize music, podcasts and other audio. Its primary consumer products include a free, ad-supported tier and a paid Spotify Premium subscription that provides ad-free listening, offline playback and higher-quality audio streams.