Spotify Technology S.A. (NYSE:SPOT) Shares Purchased by Lindbrook Capital LLC

Lindbrook Capital LLC boosted its position in Spotify Technology S.A. (NYSE:SPOT) by 32.3% during the 4th quarter, Holdings Channel reports. The fund owned 205 shares of the company’s stock after acquiring an additional 50 shares during the quarter. Lindbrook Capital LLC’s holdings in Spotify Technology were worth $39,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its position in shares of Spotify Technology by 16.5% during 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 last quarter. Wellington Management Group LLP grew its position in shares of Spotify Technology by 61.7% during 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 last quarter. AMF Tjanstepension AB grew its position in shares of Spotify Technology by 1.3% during 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 last quarter. Acadian Asset Management LLC grew its position in shares of Spotify Technology by 11.5% during the third quarter. Acadian Asset Management LLC now owns 1,916,821 shares of the company’s stock worth $296,376,000 after acquiring an additional 197,368 shares during the last quarter. Finally, Schroder Investment Management Group grew its position in shares of Spotify Technology by 303.4% during the third quarter. Schroder Investment Management Group now owns 1,315,289 shares of the company’s stock worth $203,396,000 after acquiring an additional 989,243 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SPOT. Deutsche Bank Aktiengesellschaft raised their target price on shares of Spotify Technology from $260.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Macquarie raised their target price on shares of Spotify Technology from $300.00 to $330.00 and gave the stock an “outperform” rating in a research report on Monday. DZ Bank upgraded shares of Spotify Technology from a “sell” rating to a “hold” rating and set a $240.00 target price on the stock in a research report on Wednesday, February 7th. Canaccord Genuity Group lifted their price objective on shares of Spotify Technology from $315.00 to $330.00 and gave the company a “buy” rating in a research report on Monday. Finally, Morgan Stanley lifted their price objective on shares of Spotify Technology from $270.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday. Eight analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $301.81.

Spotify Technology Stock Up 2.8 %

NYSE:SPOT opened at $289.20 on Friday. Spotify Technology S.A. has a 52-week low of $128.67 and a 52-week high of $319.30. The stock has a fifty day simple moving average of $270.61 and a 200-day simple moving average of $217.74.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.42. The business had revenue of $3.95 billion during the quarter, compared to the consensus estimate 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 quarter in the previous year, the company posted ($1.24) EPS. As a group, research analysts predict that Spotify Technology S.A. will post 3.97 EPS for the current year.

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.