New York State Common Retirement Fund Buys 11,247 Shares of Spotify (NYSE:SPOT)

New York State Common Retirement Fund grew its stake in shares of Spotify (NYSE:SPOT) by 5.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 237,294 shares of the company’s stock after buying an additional 11,247 shares during the period. New York State Common Retirement Fund owned 0.13% of Spotify worth $35,487,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Spotify by 10,018.9% during the second quarter. BlackRock Inc. now owns 2,794,732 shares of the company’s stock valued at $408,645,000 after buying an additional 2,767,113 shares during the period. Alecta Pensionsforsakring Omsesidigt increased its position in shares of Spotify by 2.7% in the fourth quarter. Alecta Pensionsforsakring Omsesidigt now owns 2,104,000 shares of the company’s stock worth $315,200,000 after purchasing an additional 55,000 shares during the last quarter. State Street Corp increased its position in shares of Spotify by 4.4% in the third quarter. State Street Corp now owns 1,214,142 shares of the company’s stock worth $138,412,000 after purchasing an additional 51,528 shares during the last quarter. Squarepoint Ops LLC increased its position in shares of Spotify by 990.3% in the third quarter. Squarepoint Ops LLC now owns 460,827 shares of the company’s stock worth $52,534,000 after purchasing an additional 418,560 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of Spotify by 13.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 375,000 shares of the company’s stock worth $42,750,000 after purchasing an additional 45,000 shares during the last quarter. Hedge funds and other institutional investors own 49.18% of the company’s stock.

Several research analysts recently weighed in on SPOT shares. Morgan Stanley restated a “buy” rating and issued a $180.00 price objective on shares of Spotify in a research report on Wednesday, January 8th. Pivotal Research decreased their price objective on shares of Spotify from to and set a “hold” rating on the stock in a research report on Thursday, February 6th. Barclays decreased their price objective on shares of Spotify from $190.00 to $180.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Nomura restated a “buy” rating and issued a $180.00 price objective on shares of Spotify in a research report on Monday, January 6th. Finally, Canaccord Genuity restated a “buy” rating and issued a $185.00 price objective on shares of Spotify in a research report on Thursday, February 6th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $161.80.

Shares of SPOT opened at $141.00 on Friday. The firm has a market cap of $25.27 billion, a P/E ratio of -63.51 and a beta of 1.92. The stock has a 50 day simple moving average of $149.93 and a two-hundred day simple moving average of $137.43. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.91 and a quick ratio of 0.81. Spotify has a 1 year low of $110.57 and a 1 year high of $161.38.

Spotify (NYSE:SPOT) last issued its earnings results on Wednesday, February 5th. The company reported ($1.14) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.48) by ($0.66). The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Spotify had a negative return on equity of 8.68% and a negative net margin of 2.69%. The firm’s quarterly revenue was up 24.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.36 EPS. On average, equities analysts anticipate that Spotify will post -0.8 earnings per share for the current year.

About Spotify

Spotify Technology SA, together with its subsidiaries, provides music streaming services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers commercial-free music services to subscribers comprising unlimited online and offline high-quality streaming access to its catalog.

Read More: What does the Dogs of the Dow mean?

Want to see what other hedge funds are holding SPOT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Spotify (NYSE:SPOT).

Institutional Ownership by Quarter for Spotify (NYSE:SPOT)

Receive News & Ratings for Spotify Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spotify and related companies with MarketBeat.com's FREE daily email newsletter.