Spotify Technology S.A. (NYSE:SPOT) Shares Bought by ARK Investment Management LLC

ARK Investment Management LLC raised its holdings in Spotify Technology S.A. (NYSE:SPOT) by 0.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 113,178 shares of the company’s stock after acquiring an additional 238 shares during the quarter. ARK Investment Management LLC owned 0.06% of Spotify Technology worth $21,267,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. increased its position in shares of Spotify Technology by 410.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 97,771 shares of the company’s stock valued at $18,372,000 after buying an additional 78,609 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Spotify Technology by 10.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 24,266 shares of the company’s stock valued at $4,560,000 after buying an additional 2,263 shares in the last quarter. Raymond James & Associates increased its position in shares of Spotify Technology by 19.0% in the fourth quarter. Raymond James & Associates now owns 38,410 shares of the company’s stock valued at $7,218,000 after buying an additional 6,139 shares in the last quarter. Rheos Capital Works Inc. increased its position in shares of Spotify Technology by 205.7% in the fourth quarter. Rheos Capital Works Inc. now owns 107,000 shares of the company’s stock valued at $20,106,000 after buying an additional 72,000 shares in the last quarter. Finally, CoreCap Advisors LLC purchased a new position in shares of Spotify Technology in the fourth quarter valued at $210,000. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Price Performance

Spotify Technology stock opened at $260.21 on Thursday. The stock’s 50 day moving average price is $241.86 and its 200 day moving average price is $198.29. Spotify Technology S.A. has a one year low of $126.83 and a one year high of $278.30.

Spotify Technology (NYSE:SPOT) last announced its earnings results on Tuesday, February 6th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.01. Spotify Technology had a negative return on equity of 23.43% and a negative net margin of 4.01%. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same period in the prior year, the company posted ($1.43) EPS. Spotify Technology’s quarterly revenue was up 16.0% on a year-over-year basis. As a group, research analysts predict that Spotify Technology S.A. will post 3.53 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on SPOT shares. Raymond James lifted their price target on Spotify Technology from $180.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, December 11th. UBS Group upgraded Spotify Technology from a “neutral” rating to a “buy” rating and lifted their price target for the company from $170.00 to $274.00 in a report on Tuesday, January 30th. Citigroup restated a “neutral” rating and issued a $190.00 price target on shares of Spotify Technology in a report on Friday, December 1st. Benchmark lifted their price target on Spotify Technology from $260.00 to $290.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Finally, Robert W. Baird lifted their price objective on Spotify Technology from $185.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, December 8th. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.36.

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.