Harvest Fund Management Co. Ltd Makes New $232,000 Investment in Spotify Technology S.A. (NYSE:SPOT)

Harvest Fund Management Co. Ltd acquired a new stake in shares of Spotify Technology S.A. (NYSE:SPOT) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 1,237 shares of the company’s stock, valued at approximately $232,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Pinnacle Bancorp Inc. purchased a new stake in shares of Spotify Technology in the fourth quarter worth about $29,000. GAMMA Investing LLC purchased a new stake in shares of Spotify Technology during the 4th quarter worth approximately $32,000. First Horizon Advisors Inc. raised its holdings in shares of Spotify Technology by 195.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 177 shares of the company’s stock worth $27,000 after acquiring an additional 117 shares in the last quarter. Lindbrook Capital LLC boosted its position in shares of Spotify Technology by 32.3% during the 4th quarter. Lindbrook Capital LLC now owns 205 shares of the company’s stock valued at $39,000 after acquiring an additional 50 shares during the last quarter. Finally, Beaird Harris Wealth Management LLC grew its holdings in shares of 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 purchasing an additional 254 shares in the last quarter. Institutional investors own 84.09% of the company’s stock.

Wall Street Analyst Weigh In

SPOT has been the subject of several research reports. Loop Capital increased their price objective on shares of Spotify Technology from $165.00 to $250.00 and gave the company a “hold” rating in a research report on Monday. Benchmark boosted their price objective on Spotify Technology from $325.00 to $375.00 and gave the stock a “buy” rating in a research note on Wednesday. The Goldman Sachs Group raised their price objective on Spotify Technology from $277.00 to $317.00 and gave the company a “neutral” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft boosted their target price on Spotify Technology from $260.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Finally, KeyCorp raised their price target on Spotify Technology from $300.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. Eight equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $301.81.

Spotify Technology Stock Performance

NYSE:SPOT opened at $272.60 on Thursday. The firm has a 50-day simple moving average of $269.74 and a 200-day simple moving average of $217.24. Spotify Technology S.A. has a one year low of $128.67 and a one year high of $319.30. The firm has a market cap of $54.06 billion, a P/E ratio of -419.90 and a beta of 1.63.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.42. The company had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.87 billion. Spotify Technology had a negative net margin of 0.80% and a negative return on equity of 4.91%. During the same quarter in the previous year, the firm posted ($1.24) earnings per share. On average, research analysts predict that Spotify Technology S.A. will post 3.52 EPS for the current fiscal year.

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.