Spotify Technology S.A. (NYSE:SPOT) Stake Increased by Gunderson Capital Management Inc.

Gunderson Capital Management Inc. raised its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 203.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,158 shares of the company’s stock after buying an additional 16,880 shares during the quarter. Spotify Technology comprises 5.5% of Gunderson Capital Management Inc.’s portfolio, making the stock its 5th largest holding. Gunderson Capital Management Inc.’s holdings in Spotify Technology were worth $11,255,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. WCM Investment Management LLC grew its position in Spotify Technology by 18.5% during the third quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock worth $1,430,142,000 after buying an additional 605,755 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Spotify Technology by 36,910.0% during the third quarter. International Assets Investment Management LLC now owns 347,524 shares of the company’s stock worth $128,073,000 after purchasing an additional 346,585 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Spotify Technology by 106.8% during the second quarter. Sei Investments Co. now owns 646,380 shares of the company’s stock worth $202,828,000 after purchasing an additional 333,782 shares in the last quarter. FMR LLC increased its position in shares of Spotify Technology by 23.4% in the third quarter. FMR LLC now owns 1,567,818 shares of the company’s stock worth $577,788,000 after purchasing an additional 297,035 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in Spotify Technology by 3,948.3% in the third quarter. Janus Henderson Group PLC now owns 264,233 shares of the company’s stock valued at $97,329,000 after purchasing an additional 257,706 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Spotify Technology from $425.00 to $530.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $340.00 price objective on shares of Spotify Technology in a report on Monday, October 7th. Bank of America increased their price objective on Spotify Technology from $430.00 to $515.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Phillip Securities reaffirmed an “accumulate” rating and issued a $485.00 target price (up previously from $420.00) on shares of Spotify Technology in a research note on Wednesday, November 13th. Finally, Morgan Stanley increased their price target on shares of Spotify Technology from $430.00 to $460.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat, Spotify Technology currently has a consensus rating of “Moderate Buy” and an average target price of $433.36.

Spotify Technology Price Performance

SPOT stock opened at $456.85 on Tuesday. The firm has a 50-day moving average of $461.72 and a 200 day moving average of $385.72. The company has a market cap of $90.94 billion, a P/E ratio of 124.14 and a beta of 1.62. Spotify Technology S.A. has a 1 year low of $191.88 and a 1 year high of $506.47.

Spotify Technology (NYSE:SPOT) last released its earnings results on Tuesday, November 12th. The company reported $1.45 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.30). The firm had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.03 billion. Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The company’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.36 EPS. On average, equities research analysts expect that Spotify Technology S.A. will post 6.02 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.