Greenland Capital Management LP Purchases Shares of 3,701 Spotify Technology $SPOT

Greenland Capital Management LP acquired a new position in shares of Spotify Technology (NYSE:SPOTFree Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,701 shares of the company’s stock, valued at approximately $2,583,000.

Other institutional investors also recently modified their holdings of the company. AXQ Capital LP bought a new stake in Spotify Technology during the 3rd quarter worth approximately $323,000. Compound Planning Inc. boosted its stake in Spotify Technology by 11.1% in the third quarter. Compound Planning Inc. now owns 2,230 shares of the company’s stock worth $1,557,000 after purchasing an additional 223 shares in the last quarter. Dana Investment Advisors Inc. boosted its stake in Spotify Technology by 29.1% in the third quarter. Dana Investment Advisors Inc. now owns 2,096 shares of the company’s stock worth $1,463,000 after purchasing an additional 472 shares in the last quarter. Fortis Capital Management LLC grew its holdings in shares of Spotify Technology by 19.9% during the third quarter. Fortis Capital Management LLC now owns 415 shares of the company’s stock worth $290,000 after purchasing an additional 69 shares during the last quarter. Finally, Transatlantique Private Wealth LLC increased its stake in shares of Spotify Technology by 1.4% in the third quarter. Transatlantique Private Wealth LLC now owns 4,718 shares of the company’s stock valued at $3,293,000 after buying an additional 66 shares in the last quarter. Institutional investors own 84.09% of the company’s stock.

Trending Headlines about Spotify Technology

Here are the key news stories impacting Spotify Technology this week:

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. KeyCorp reduced their price target on shares of Spotify Technology from $830.00 to $720.00 and set an “overweight” rating on the stock in a research report on Monday, February 9th. Erste Group Bank cut shares of Spotify Technology from a “buy” rating to a “hold” rating in a research report on Friday, December 5th. Weiss Ratings upgraded shares of Spotify Technology from a “hold (c)” rating to a “buy (b-)” rating in a research report on Wednesday, February 11th. Citizens Jmp started coverage on shares of Spotify Technology in a research note on Wednesday, December 17th. They set a “market outperform” rating and a $800.00 price target on the stock. Finally, UBS Group lowered their price target on shares of Spotify Technology from $850.00 to $800.00 and set a “buy” rating for the company in a report on Friday, January 9th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, Spotify Technology currently has an average rating of “Moderate Buy” and a consensus price target of $706.42.

View Our Latest Stock Report on SPOT

Spotify Technology Price Performance

Shares of NYSE:SPOT opened at $468.09 on Tuesday. The stock has a market cap of $96.35 billion, a price-to-earnings ratio of 48.56, a P/E/G ratio of 1.08 and a beta of 1.66. The company has a 50 day moving average of $519.66 and a 200-day moving average of $612.94. Spotify Technology has a one year low of $405.00 and a one year high of $785.00.

Spotify Technology (NYSE:SPOTGet Free Report) last announced its quarterly earnings data on Tuesday, February 10th. The company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.16 by $2.00. Spotify Technology had a net margin of 13.16% and a return on equity of 31.35%. The firm had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same period last year, the firm earned $1.88 earnings per share. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. Equities research analysts anticipate that Spotify Technology will post 10.3 earnings per share for the current year.

About Spotify Technology

(Free Report)

Spotify Technology is a digital audio streaming company best known for its on-demand music service and a growing portfolio of spoken-word content. Founded in Sweden in 2006 by Daniel Ek and Martin Lorentzon and launched commercially in 2008, the company offers a cross-platform app that enables users to discover, stream and organize music, podcasts and other audio. Its primary consumer products include a free, ad-supported tier and a paid Spotify Premium subscription that provides ad-free listening, offline playback and higher-quality audio streams.

Recommended Stories

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

Institutional Ownership by Quarter for Spotify Technology (NYSE:SPOT)

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