Semanteon Capital Management LP Buys Shares of 5,478 Spotify Technology S.A. (NYSE:SPOT)

Semanteon Capital Management LP purchased a new stake in shares of Spotify Technology S.A. (NYSE:SPOT) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 5,478 shares of the company’s stock, valued at approximately $1,029,000.

Several other institutional investors and hedge funds also recently made changes to their positions in SPOT. Wellington Management Group LLP grew its stake in Spotify Technology by 61.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,970,540 shares of the company’s stock valued at $459,364,000 after buying an additional 1,133,305 shares in the last quarter. Schroder Investment Management Group boosted its stake in Spotify Technology by 303.4% in the 3rd quarter. Schroder Investment Management Group now owns 1,315,289 shares of the company’s stock worth $203,396,000 after purchasing an additional 989,243 shares during the period. Artisan Partners Limited Partnership grew its holdings in Spotify Technology by 194.7% during the 3rd quarter. Artisan Partners Limited Partnership now owns 1,123,078 shares of the company’s stock valued at $173,673,000 after buying an additional 741,955 shares in the last quarter. Massachusetts Financial Services Co. MA increased 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 valued at $572,015,000 after buying an additional 523,237 shares during the period. Finally, Citigroup Inc. lifted its holdings in shares of Spotify Technology by 1,037.4% in the third quarter. Citigroup Inc. now owns 386,191 shares of the company’s stock worth $59,721,000 after buying an additional 352,237 shares in the last quarter. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Up 2.8 %

SPOT traded up $7.97 during trading on Thursday, hitting $289.20. The company’s stock had a trading volume of 3,709,773 shares, compared to its average volume of 2,202,149. The business’s 50 day simple moving average is $270.61 and its 200-day simple moving average is $217.74. The firm has a market cap of $57.36 billion, a PE ratio of -431.64 and a beta of 1.63. Spotify Technology S.A. has a one year low of $128.67 and a one year high of $319.30.

Spotify Technology (NYSE:SPOT) last announced its earnings results on Tuesday, April 23rd. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.42. Spotify Technology had a negative return on equity of 4.91% and a negative net margin of 0.80%. The company had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.87 billion. During the same period last year, the firm earned ($1.24) EPS. Equities research analysts expect that Spotify Technology S.A. will post 3.52 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SPOT. Macquarie increased their target price on shares of Spotify Technology from $300.00 to $330.00 and gave the stock an “outperform” rating in a research note on Monday. Loop Capital lifted their price objective on Spotify Technology from $165.00 to $250.00 and gave the company a “hold” rating in a research note on Monday. KeyCorp upped their target price on Spotify Technology from $300.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. Raymond James raised their price target on Spotify Technology from $260.00 to $320.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Finally, The Goldman Sachs Group boosted their price objective on Spotify Technology from $277.00 to $317.00 and gave the stock a “neutral” rating in a report on Wednesday. Eight investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.