Summit Trail Advisors LLC Has $313,000 Stock Position in Spotify Technology S.A. (NYSE:SPOT)

Summit Trail Advisors LLC lifted its position in Spotify Technology S.A. (NYSE:SPOT) by 3.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,664 shares of the company’s stock after buying an additional 56 shares during the period. Summit Trail Advisors LLC’s holdings in Spotify Technology were worth $313,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Technology Crossover Management XI Ltd. raised its position 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 worth $200,618,000 after purchasing an additional 344,841 shares during the period. Nordea Investment Management AB raised its holdings 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. lifted its stake 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 valued at $18,372,000 after buying an additional 78,609 shares in the last quarter. GSA Capital Partners LLP boosted its holdings in shares of 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 buying an additional 11,664 shares during the period. Finally, Rheos Capital Works Inc. increased its position 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 worth $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.

Spotify Technology Stock Performance

Shares of NYSE SPOT opened at $296.18 on Wednesday. Spotify Technology S.A. has a 52 week low of $129.23 and a 52 week high of $319.30. The stock’s fifty day moving average is $277.33 and its 200 day moving average is $226.31. The stock has a market capitalization of $56.33 billion, a P/E ratio of -445.08 and a beta of 1.61.

Spotify Technology (NYSE:SPOT) last issued its earnings results on Tuesday, April 23rd. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.63 by $0.42. The company had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.87 billion. Spotify Technology had a negative net margin of 0.80% and a negative return on equity of 4.39%. During the same period in the previous year, the company earned ($1.24) EPS. Equities research analysts forecast that Spotify Technology S.A. will post 4.78 earnings per share for the current year.

Analysts Set New Price Targets

SPOT has been the topic of a number of recent research reports. UBS Group lifted their target price on Spotify Technology from $274.00 to $375.00 and gave the company a “buy” rating in a research report on Friday, April 5th. HSBC boosted their price objective on shares of Spotify Technology from $310.00 to $355.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Citigroup raised their target price on shares of Spotify Technology from $255.00 to $310.00 and gave the company a “neutral” rating in a research report on Tuesday. Rosenblatt Securities increased their price objective on shares of Spotify Technology from $315.00 to $396.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Finally, Guggenheim lifted their target price on Spotify Technology from $290.00 to $350.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Eight investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $306.42.

About Spotify Technology

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.