Virtu Financial LLC Buys New Shares in Spotify Technology S.A. (NYSE:SPOT)

Virtu Financial LLC bought a new stake in Spotify Technology S.A. (NYSE:SPOT) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,177 shares of the company’s stock, valued at approximately $221,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pinnacle Bancorp Inc. purchased a new position in Spotify Technology in the fourth quarter valued at $29,000. GAMMA Investing LLC acquired a new stake in Spotify Technology in the fourth quarter valued at $32,000. Lindbrook Capital LLC raised its stake in Spotify Technology by 32.3% in the fourth quarter. Lindbrook Capital LLC now owns 205 shares of the company’s stock valued at $39,000 after buying an additional 50 shares in the last quarter. Beaird Harris Wealth Management LLC raised its stake 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 buying an additional 254 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its stake in Spotify Technology by 191.4% in the fourth quarter. Quadrant Capital Group LLC now owns 271 shares of the company’s stock valued at $51,000 after buying an additional 178 shares in the last quarter. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SPOT has been the topic of a number of analyst reports. Morgan Stanley raised their price target on Spotify Technology from $270.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. UBS Group raised their price target on Spotify Technology from $274.00 to $375.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Citigroup raised their price target on Spotify Technology from $255.00 to $310.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Raymond James raised their price target on Spotify Technology from $260.00 to $320.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Finally, The Goldman Sachs Group lifted their target price on Spotify Technology from $277.00 to $317.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Eight investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, Spotify Technology presently has an average rating of “Moderate Buy” and a consensus price target of $311.48.

Spotify Technology Stock Up 1.2 %

Shares of SPOT stock opened at $317.74 on Friday. Spotify Technology S.A. has a 52-week low of $129.23 and a 52-week high of $331.08. The stock’s 50-day moving average price is $301.09 and its 200 day moving average price is $256.69. The stock has a market capitalization of $60.43 billion, a PE ratio of -474.23 and a beta of 1.61.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.42. Spotify Technology had a negative return on equity of 4.39% and a negative net margin of 0.80%. The company had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.87 billion. During the same quarter in the previous year, the company earned ($1.24) EPS. Analysts expect that Spotify Technology S.A. will post 4.95 earnings per share for the current fiscal year.

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.