Gateway Investment Advisers LLC Has $3.70 Million Stake in Spotify Technology S.A. (NYSE:SPOT)

Gateway Investment Advisers LLC increased its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 630.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,277 shares of the company’s stock after purchasing an additional 7,144 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Spotify Technology were worth $3,703,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SPOT. WCM Investment Management LLC boosted 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 valued at $1,430,142,000 after purchasing an additional 605,755 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Spotify Technology by 36,910.0% in the 3rd quarter. International Assets Investment Management LLC now owns 347,524 shares of the company’s stock valued at $128,073,000 after buying an additional 346,585 shares in the last quarter. Sei Investments Co. raised its position in Spotify Technology by 106.8% during the second quarter. Sei Investments Co. now owns 646,380 shares of the company’s stock valued at $202,828,000 after acquiring an additional 333,782 shares in the last quarter. FMR LLC grew its position in 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 acquiring an additional 297,035 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of Spotify Technology by 3,948.3% during the 3rd quarter. Janus Henderson Group PLC now owns 264,233 shares of the company’s stock worth $97,329,000 after purchasing an additional 257,706 shares during the last quarter. 84.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SPOT shares. Rosenblatt Securities boosted their price target on Spotify Technology from $399.00 to $438.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. UBS Group lifted their target price on shares of Spotify Technology from $485.00 to $540.00 and gave the stock a “buy” rating in a report on Wednesday. Pivotal Research upped their price target on shares of Spotify Technology from $510.00 to $565.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Macquarie boosted their price objective on Spotify Technology from $395.00 to $500.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Morgan Stanley raised their target price on Spotify Technology from $430.00 to $460.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $441.21.

Spotify Technology Stock Down 0.9 %

Spotify Technology stock opened at $486.07 on Friday. The stock has a market cap of $96.75 billion, a price-to-earnings ratio of 132.08 and a beta of 1.62. Spotify Technology S.A. has a 12-month low of $200.81 and a 12-month high of $506.47. The business’s 50-day simple moving average is $467.11 and its 200 day simple moving average is $388.20.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($0.30). Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. The company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.03 billion. During the same quarter in the prior year, the business earned $0.36 earnings per share. The firm’s revenue for the quarter was up 18.8% on a year-over-year basis. As a group, sell-side analysts expect that Spotify Technology S.A. will post 5.96 EPS for the current year.

Spotify Technology Company 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.