Kodai Capital Management LP Takes Position in Spotify Technology S.A. (NYSE:SPOT)

Kodai Capital Management LP bought a new stake in Spotify Technology S.A. (NYSE:SPOT) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 222,803 shares of the company’s stock, valued at approximately $41,867,000.

Several other large investors have also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA boosted its holdings in shares of Spotify Technology by 16.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,699,008 shares of the company’s stock valued at $572,015,000 after acquiring an additional 523,237 shares in the last quarter. Wellington Management Group LLP boosted its stake in Spotify Technology by 61.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,970,540 shares of the company’s stock valued at $459,364,000 after purchasing an additional 1,133,305 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Spotify Technology by 11.5% during the 3rd quarter. Acadian Asset Management LLC now owns 1,916,821 shares of the company’s stock valued at $296,376,000 after purchasing an additional 197,368 shares during the period. Artisan Partners Limited Partnership raised its stake in shares of Spotify Technology by 24.7% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,400,811 shares of the company’s stock worth $263,226,000 after buying an additional 277,733 shares in the last quarter. Finally, Schroder Investment Management Group lifted its holdings in shares of Spotify Technology by 303.4% in the third quarter. Schroder Investment Management Group now owns 1,315,289 shares of the company’s stock valued at $203,396,000 after buying an additional 989,243 shares during the period. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SPOT shares. Barclays lifted their target price on Spotify Technology from $335.00 to $350.00 and gave the stock an “overweight” rating in a report on Wednesday, April 24th. The Goldman Sachs Group boosted their target price on shares of Spotify Technology from $277.00 to $317.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Canaccord Genuity Group lifted their target price on Spotify Technology from $315.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. UBS Group increased their price target on Spotify Technology from $274.00 to $375.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Finally, Raymond James boosted their price objective on Spotify Technology from $260.00 to $320.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Eight investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $306.81.

Spotify Technology Price Performance

NYSE:SPOT traded up $13.06 during mid-day trading on Tuesday, reaching $326.68. The stock had a trading volume of 3,350,815 shares, compared to its average volume of 2,012,127. The stock has a market cap of $62.13 billion, a P/E ratio of -475.38 and a beta of 1.61. The business’s 50 day moving average is $293.18 and its 200 day moving average is $244.35. Spotify Technology S.A. has a fifty-two week low of $129.23 and a fifty-two week high of $326.76.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.05 EPS for the quarter, topping 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 company had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.87 billion. During the same quarter in the prior year, the business posted ($1.24) EPS. Equities analysts expect that Spotify Technology S.A. will post 4.78 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.