Beck Bode LLC Acquires Shares of 51,131 Spotify Technology S.A. (NYSE:SPOT)

Beck Bode LLC acquired a new stake in shares of Spotify Technology S.A. (NYSE:SPOT) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 51,131 shares of the company’s stock, valued at approximately $9,608,000. Spotify Technology comprises about 2.2% of Beck Bode LLC’s portfolio, making the stock its 17th biggest holding.

A number of other large investors have also recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA boosted its stake in Spotify Technology by 16.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,699,008 shares of the company’s stock valued at $572,015,000 after acquiring an additional 523,237 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Spotify Technology by 61.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,970,540 shares of the company’s stock worth $459,364,000 after buying an additional 1,133,305 shares during the last quarter. AMF Tjanstepension AB lifted its position in shares of Spotify Technology by 1.3% in the 3rd quarter. AMF Tjanstepension AB now owns 2,025,000 shares of the company’s stock worth $313,146,000 after buying an additional 25,000 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of Spotify Technology by 11.5% in the 3rd quarter. Acadian Asset Management LLC now owns 1,916,821 shares of the company’s stock worth $296,376,000 after buying an additional 197,368 shares during the last quarter. Finally, Schroder Investment Management Group lifted its position in shares of 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 buying an additional 989,243 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Trading Down 2.0 %

Shares of SPOT traded down $5.78 during midday trading on Tuesday, hitting $280.46. The stock had a trading volume of 1,255,117 shares, compared to its average volume of 2,189,836. Spotify Technology S.A. has a fifty-two week low of $129.23 and a fifty-two week high of $319.30. The business has a 50-day simple moving average of $273.02 and a two-hundred day simple moving average of $221.32. The firm has a market cap of $55.62 billion, a P/E ratio of -418.59 and a beta of 1.63.

Spotify Technology (NYSE:SPOT) last announced 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 period last year, the company posted ($1.24) earnings per share. On average, analysts expect that Spotify Technology S.A. will post 4.49 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SPOT. Guggenheim raised their price target on shares of Spotify Technology from $290.00 to $350.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. TheStreet upgraded shares of Spotify Technology from a “d+” rating to a “c-” rating in a research report on Friday, February 9th. JPMorgan Chase & Co. lifted their price objective on shares of Spotify Technology from $320.00 to $365.00 and gave the company an “overweight” rating in a research report on Wednesday, April 24th. 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, April 22nd. Finally, Pivotal Research lifted their price objective on shares of Spotify Technology from $390.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Eight equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $301.81.

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.