GAMMA Investing LLC Purchases Shares of 170 Spotify Technology S.A. (NYSE:SPOT)

GAMMA Investing LLC purchased a new position in Spotify Technology S.A. (NYSE:SPOT) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 170 shares of the company’s stock, valued at approximately $32,000.

A number of other large investors have also modified their holdings of the stock. Pinnacle Bancorp Inc. acquired a new position in Spotify Technology during the 4th quarter worth $29,000. First Horizon Advisors Inc. grew its position in shares of Spotify Technology by 195.0% during the third quarter. First Horizon Advisors Inc. now owns 177 shares of the company’s stock worth $27,000 after buying an additional 117 shares in the last quarter. Lindbrook Capital LLC increased its stake in shares of Spotify Technology by 32.3% during the fourth quarter. Lindbrook Capital LLC now owns 205 shares of the company’s stock worth $39,000 after buying an additional 50 shares during the period. Beaird Harris Wealth Management LLC raised its holdings in Spotify Technology by 2,540.0% in the third quarter. Beaird Harris Wealth Management LLC now owns 264 shares of the company’s stock valued at $41,000 after acquiring an additional 254 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new position in Spotify Technology in the fourth quarter worth approximately $54,000. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Price Performance

Shares of NYSE SPOT opened at $296.07 on Monday. The company has a market cap of $56.31 billion, a PE ratio of -441.89 and a beta of 1.61. The stock has a fifty day moving average price of $275.53 and a 200 day moving average price of $224.21. Spotify Technology S.A. has a 1-year low of $129.23 and a 1-year high of $319.30.

Spotify Technology (NYSE:SPOT) last released its earnings results on Tuesday, April 23rd. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.63 by $0.42. Spotify Technology had a negative net margin of 0.80% and a negative return on equity of 4.39%. The company had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.87 billion. During the same quarter last year, the business earned ($1.24) EPS. Analysts anticipate that Spotify Technology S.A. will post 4.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SPOT has been the topic of a number of recent analyst reports. The Goldman Sachs Group increased their price objective on shares of Spotify Technology from $277.00 to $317.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Guggenheim raised their price target on Spotify Technology from $290.00 to $350.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Rosenblatt Securities upped their price objective on Spotify Technology from $315.00 to $396.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Bank of America raised their target price on Spotify Technology from $315.00 to $370.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, Benchmark upped their price target on Spotify Technology from $325.00 to $375.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Eight equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, Spotify Technology currently has a consensus rating of “Moderate Buy” and an average target price of $301.81.

About Spotify Technology

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.