Nordea Investment Management AB Grows Position in Spotify Technology S.A. (NYSE:SPOT)

Clara D. Flaherty

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Nordea Expenditure Administration AB increased its position in shares of Spotify Know-how S.A. (NYSE:PlaceGet Ranking) by 18.1% through the initial quarter, Holdings Channel reviews. The institutional investor owned 53,092 shares of the company’s inventory soon after getting an more 8,121 shares in the course of the quarter. Nordea Expense Administration AB’s holdings in Spotify Know-how had been value $8,278,000 as of its most recent SEC submitting.

Quite a few other hedge funds have also recently included to or lowered their stakes in Location. UMB Lender N A MO obtained a new situation in Spotify Engineering in the fourth quarter valued at approximately $26,000. Lazard Asset Administration LLC acquired a new posture in Spotify Technology in the fourth quarter valued at close to $26,000. MUFG Americas Holdings Corp acquired a new position in Spotify Technological know-how in the fourth quarter valued at roughly $29,000. IFP Advisors Inc boosted its holdings in Spotify Technological innovation by 71.6% in the fourth quarter. IFP Advisors Inc now owns 151 shares of the company’s inventory valued at $35,000 after purchasing an additional 63 shares in the final quarter. Lastly, Fifth 3rd Bancorp boosted its holdings in Spotify Engineering by 55.% in the fourth quarter. Fifth Third Bancorp now owns 155 shares of the company’s inventory valued at $36,000 immediately after acquiring an further 55 shares in the past quarter. Hedge cash and other institutional buyers have 56.36% of the company’s stock.

Spot has been the subject matter of a number of investigation analyst reports. Morgan Stanley decreased their rate target on Spotify Technological know-how from $300.00 to $225.00 and established an “overweight” rating for the business in a report on Friday, April 8th. Deutsche Financial institution Aktiengesellschaft lowered their rate aim on Spotify Technology from $140.00 to $115.00 in a report on Thursday, April 28th. Raymond James elevated Spotify Technological innovation from a “market perform” rating to an “outperform” rating and established a $150.00 rate goal for the company in a report on Monday, June 6th. UBS Group lowered their cost objective on Spotify Engineering from $220.00 to $175.00 and set a “buy” rating for the enterprise in a report on Thursday, April 28th. Eventually, Wells Fargo & Company lifted Spotify Know-how from an “underweight” rating to an “equal weight” rating and greater their value objective for the corporation from $101.00 to $124.00 in a report on Wednesday, June 15th. One analyst has rated the stock with a market rating, eleven have issued a maintain rating and thirteen have assigned a purchase ranking to the enterprise. According to MarketBeat, Spotify Technological know-how has a consensus ranking of “Hold” and a consensus focus on price of $201.75.

Shares of Spot inventory opened at $107.00 on Friday. Spotify Know-how S.A. has a fifty-two 7 days small of $89.03 and a fifty-two 7 days higher of $305.60. The stock has a market place cap of $20.35 billion, a P/E ratio of -150.70 and a beta of 1.79. The enterprise has a fifty working day easy moving average of $107.21 and a 200-day basic going typical of $153.77.

Spotify Technological know-how (NYSE:LocationGet Rating) past introduced its quarterly earnings benefits on Wednesday, April 27th. The company claimed $.24 earnings for each share for the quarter, beating analysts’ consensus estimates of ($.26) by $.50. Spotify Technology experienced a return on equity of 3.02% and a web margin of .68%. The company experienced revenue of $2.66 billion all through the quarter, as opposed to analysts’ expectations of $2.61 billion. During the same quarter final calendar year, the small business posted ($.30) earnings for each share. The business’s earnings for the quarter was up 23.9% on a yr-about-calendar year basis. Analysts forecast that Spotify Technological innovation S.A. will write-up -.78 EPS for the existing calendar year.

Spotify Technological innovation Firm Profile (Get Ranking)

Spotify Engineering SA, alongside one another with its subsidiaries, provides audio streaming expert services globally. It operates as a result of Premium and Advertisement-Supported segments. The Top quality segment delivers unrestricted on the internet and offline streaming entry to its catalog of songs and podcasts without having professional breaks to its subscribers.

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Want to see what other hedge resources are holding Place? Take a look at HoldingsChannel.com to get the most recent 13F filings and insider trades for Spotify Know-how S.A. (NYSE:PlaceGet Score).

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



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