Spotify Technology $SPOT Shares Purchased by Lingohr Asset Management GmbH

Lingohr Asset Management GmbH raised its position in Spotify Technology (NYSE:SPOT) by 975.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,600 shares of the company’s stock after purchasing an additional 7,800 shares during the quarter. Spotify Technology comprises approximately 1.5% of Lingohr Asset Management GmbH’s investment portfolio, making the stock its 27th biggest holding. Lingohr Asset Management GmbH’s holdings in Spotify Technology were worth $6,003,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Core Wealth Partners LLC boosted its position in shares of Spotify Technology by 7.9% during the third quarter. Core Wealth Partners LLC now owns 343 shares of the company’s stock worth $239,000 after buying an additional 25 shares during the period. Trifecta Capital Advisors LLC raised its stake in Spotify Technology by 11.3% during the 3rd quarter. Trifecta Capital Advisors LLC now owns 6,048 shares of the company’s stock valued at $4,222,000 after acquiring an additional 612 shares in the last quarter. Impact Partnership Wealth LLC boosted its position in Spotify Technology by 36.3% during the 3rd quarter. Impact Partnership Wealth LLC now owns 1,777 shares of the company’s stock worth $1,240,000 after acquiring an additional 473 shares during the period. Foundations Investment Advisors LLC grew its stake in shares of Spotify Technology by 18.8% in the third quarter. Foundations Investment Advisors LLC now owns 815 shares of the company’s stock worth $569,000 after purchasing an additional 129 shares in the last quarter. Finally, Fidelis Capital Partners LLC grew its stake in shares of Spotify Technology by 7.4% in the third quarter. Fidelis Capital Partners LLC now owns 1,065 shares of the company’s stock worth $743,000 after purchasing an additional 73 shares in the last quarter. Institutional investors own 84.09% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group upgraded shares of Spotify Technology from a “neutral” rating to a “buy” rating and cut their price objective for the company from $735.00 to $700.00 in a research note on Friday, January 23rd. Barclays dropped their price target on shares of Spotify Technology from $700.00 to $625.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 20th. UBS Group reduced their price target on shares of Spotify Technology from $850.00 to $800.00 and set a “buy” rating for the company in a research note on Friday, January 9th. Wall Street Zen upgraded shares of Spotify Technology from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, Guggenheim dropped their target price on Spotify Technology from $800.00 to $750.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $727.71.

Spotify Technology Price Performance

NYSE SPOT opened at $499.69 on Friday. Spotify Technology has a 12 month low of $475.01 and a 12 month high of $785.00. The company has a market capitalization of $102.88 billion, a P/E ratio of 78.57, a PEG ratio of 0.96 and a beta of 1.66. The company’s 50 day simple moving average is $558.79 and its 200 day simple moving average is $637.52.

Spotify Technology (NYSE:SPOT) last issued its earnings results on Tuesday, November 4th. The company reported $3.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $1.96. The firm had revenue of $5.01 billion during the quarter, compared to analysts’ expectations of $4.23 billion. Spotify Technology had a net margin of 8.46% and a return on equity of 21.68%. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the firm posted $1.45 earnings per share. On average, analysts anticipate that Spotify Technology will post 10.3 earnings per share for the current year.

About Spotify Technology

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.