ING Groep NV Buys Shares of 22,800 Spotify Technology S.A. (NYSE:SPOT)

ING Groep NV acquired a new position in shares of Spotify Technology S.A. (NYSE:SPOT) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 22,800 shares of the company’s stock, valued at approximately $4,284,000.

A number of other large investors also recently bought and sold shares of the stock. Pinnacle Bancorp Inc. acquired a new position in shares of Spotify Technology during the fourth quarter worth about $29,000. GAMMA Investing LLC acquired a new stake in shares of Spotify Technology in the 4th quarter valued at $32,000. Lindbrook Capital LLC lifted its position in shares of Spotify Technology by 32.3% during the 4th quarter. Lindbrook Capital LLC now owns 205 shares of the company’s stock worth $39,000 after purchasing an additional 50 shares during the last quarter. Beaird Harris Wealth Management LLC grew its stake in shares of Spotify Technology by 2,540.0% during the third quarter. Beaird Harris Wealth Management LLC now owns 264 shares of the company’s stock worth $41,000 after purchasing an additional 254 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its holdings in Spotify Technology by 191.4% in the fourth quarter. Quadrant Capital Group LLC now owns 271 shares of the company’s stock valued at $51,000 after buying an additional 178 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Analyst Ratings Changes

SPOT has been the subject of several recent analyst reports. HSBC boosted their target price on Spotify Technology from $310.00 to $355.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Benchmark increased their price target on shares of Spotify Technology from $325.00 to $375.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Barclays increased their target price on shares of Spotify Technology from $335.00 to $350.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 24th. Wells Fargo & Company lifted their target price on Spotify Technology from $250.00 to $280.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. Finally, DZ Bank upgraded Spotify Technology from a “sell” rating to a “hold” rating and set a $240.00 price target for the company in a research note on Wednesday, February 7th. Eight equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $306.42.

Spotify Technology Price Performance

Spotify Technology stock opened at $306.78 on Monday. Spotify Technology S.A. has a 12 month low of $129.23 and a 12 month high of $319.30. The company has a market cap of $58.35 billion, a price-to-earnings ratio of -451.96 and a beta of 1.61. The stock’s 50-day moving average is $282.70 and its 200-day moving average is $233.89.

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

Spotify Technology 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.