Parkside Financial Bank & Trust Acquires 63 Shares of Spotify Technology S.A. (NYSE:SPOT)

Parkside Financial Bank & Trust lifted its holdings in Spotify Technology S.A. (NYSE:SPOT) by 21.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 354 shares of the company’s stock after acquiring an additional 63 shares during the period. Parkside Financial Bank & Trust’s holdings in Spotify Technology were worth $67,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Massachusetts Financial Services Co. MA boosted its stake in shares of Spotify Technology by 16.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,699,008 shares of the company’s stock worth $572,015,000 after acquiring an additional 523,237 shares during the period. Wellington Management Group LLP boosted its stake in shares of Spotify Technology by 61.7% in the third quarter. Wellington Management Group LLP now owns 2,970,540 shares of the company’s stock worth $459,364,000 after acquiring an additional 1,133,305 shares during the period. AMF Tjanstepension AB boosted its stake in shares of Spotify Technology by 1.3% in the third quarter. AMF Tjanstepension AB now owns 2,025,000 shares of the company’s stock worth $313,146,000 after acquiring an additional 25,000 shares during the period. Acadian Asset Management LLC boosted its stake in Spotify Technology by 11.5% during the third quarter. Acadian Asset Management LLC now owns 1,916,821 shares of the company’s stock valued at $296,376,000 after buying an additional 197,368 shares during the last quarter. Finally, Schroder Investment Management Group boosted its stake in Spotify Technology by 303.4% during the third quarter. Schroder Investment Management Group now owns 1,315,289 shares of the company’s stock valued at $203,396,000 after buying an additional 989,243 shares during the last quarter. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Price Performance

Shares of Spotify Technology stock opened at $289.20 on Friday. The business has a 50 day simple moving average of $270.61 and a two-hundred day simple moving average of $217.74. Spotify Technology S.A. has a 12 month low of $128.67 and a 12 month high of $319.30. The stock has a market capitalization of $57.36 billion, a P/E ratio of -431.64 and a beta of 1.63.

Spotify Technology (NYSE:SPOT) last posted its quarterly 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. The business 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 prior year, the business earned ($1.24) earnings per share. As a group, research analysts anticipate that Spotify Technology S.A. will post 3.97 EPS for the current fiscal year.

Analysts Set New Price Targets

SPOT has been the subject of a number of research reports. Raymond James increased their price target on Spotify Technology from $260.00 to $320.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Pivotal Research increased their price target on Spotify Technology from $390.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday. Guggenheim raised their price objective on Spotify Technology from $290.00 to $350.00 and gave the company a “buy” rating in a research note on Wednesday. Barclays raised their price objective on Spotify Technology from $335.00 to $350.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, UBS Group raised their price objective on Spotify Technology from $274.00 to $375.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Eight investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Spotify Technology currently has an average rating of “Moderate Buy” and a consensus price target of $301.81.

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.