Auxano Advisors LLC Purchases Shares of 1,145 Spotify Technology S.A. (NYSE:SPOT)

Auxano Advisors LLC bought a new stake in shares of Spotify Technology S.A. (NYSE:SPOT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,145 shares of the company’s stock, valued at approximately $215,000.

Several other large investors have also added to or reduced their stakes in SPOT. Technology Crossover Management XI Ltd. raised its holdings in shares of Spotify Technology by 36.2% during the third quarter. Technology Crossover Management XI Ltd. now owns 1,297,323 shares of the company’s stock valued at $200,618,000 after purchasing an additional 344,841 shares during the period. Nordea Investment Management AB raised its stake in Spotify Technology by 7.9% during the 4th quarter. Nordea Investment Management AB now owns 248,659 shares of the company’s stock worth $46,927,000 after buying an additional 18,105 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Spotify Technology by 410.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 97,771 shares of the company’s stock worth $18,372,000 after acquiring an additional 78,609 shares in the last quarter. GSA Capital Partners LLP grew its stake in Spotify Technology by 452.4% in the third quarter. GSA Capital Partners LLP now owns 14,242 shares of the company’s stock valued at $2,202,000 after acquiring an additional 11,664 shares during the period. Finally, Rheos Capital Works Inc. increased its holdings in shares of Spotify Technology by 205.7% during the fourth quarter. Rheos Capital Works Inc. now owns 107,000 shares of the company’s stock valued at $20,106,000 after acquiring an additional 72,000 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on SPOT shares. Bank of America raised their price target on shares of Spotify Technology from $315.00 to $370.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Rosenblatt Securities lifted their price target on Spotify Technology from $315.00 to $396.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. TheStreet raised shares of Spotify Technology from a “d+” rating to a “c-” rating in a research report on Friday, February 9th. Loop Capital lifted their price target on shares of Spotify Technology from $165.00 to $250.00 and gave the stock a “hold” rating in a report on Monday, April 22nd. Finally, UBS Group increased their price objective on Spotify Technology from $274.00 to $375.00 and gave the company a “buy” rating in a report on Friday, April 5th. Eight analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $301.81.

Spotify Technology Stock Performance

Shares of SPOT stock opened at $280.46 on Wednesday. The business has a 50-day moving average of $273.02 and a 200 day moving average of $221.32. Spotify Technology S.A. has a 1-year low of $129.23 and a 1-year high of $319.30.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.42. Spotify Technology had a negative net margin of 0.80% and a negative return on equity of 4.39%. The business had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.87 billion. During the same quarter in the prior year, the company posted ($1.24) EPS. As a group, equities analysts anticipate that Spotify Technology S.A. will post 4.49 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.