Robeco Institutional Asset Management B.V. Boosts Position in Spotify Technology S.A. (NYSE:SPOT)

Robeco Institutional Asset Management B.V. grew its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 33.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 281,528 shares of the company’s stock after purchasing an additional 70,727 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.14% of Spotify Technology worth $125,950,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. First Horizon Advisors Inc. raised its stake in shares of Spotify Technology by 5.8% during the third quarter. First Horizon Advisors Inc. now owns 478 shares of the company’s stock valued at $176,000 after purchasing an additional 26 shares during the period. West Bancorporation Inc. raised its stake in shares of Spotify Technology by 3.4% during the third quarter. West Bancorporation Inc. now owns 827 shares of the company’s stock valued at $305,000 after purchasing an additional 27 shares during the period. Avior Wealth Management LLC raised its stake in shares of Spotify Technology by 12.0% during the third quarter. Avior Wealth Management LLC now owns 281 shares of the company’s stock valued at $104,000 after purchasing an additional 30 shares during the period. Park National Corp OH raised its stake in shares of Spotify Technology by 4.1% during the fourth quarter. Park National Corp OH now owns 793 shares of the company’s stock valued at $355,000 after purchasing an additional 31 shares during the period. Finally, Washington Trust Advisors Inc. raised its stake in shares of Spotify Technology by 12.0% during the third quarter. Washington Trust Advisors Inc. now owns 299 shares of the company’s stock valued at $110,000 after purchasing an additional 32 shares during the period. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SPOT. Benchmark reiterated a “buy” rating and set a $520.00 price objective on shares of Spotify Technology in a research note on Thursday, January 16th. Macquarie lifted their price target on shares of Spotify Technology from $395.00 to $500.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. KeyCorp lifted their price target on shares of Spotify Technology from $520.00 to $555.00 and gave the stock an “overweight” rating in a research note on Friday, January 10th. Morgan Stanley lifted their price target on shares of Spotify Technology from $430.00 to $460.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Finally, Phillip Securities restated an “accumulate” rating and issued a $485.00 price target (up previously from $420.00) on shares of Spotify Technology in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $446.21.

Spotify Technology Stock Performance

Shares of SPOT opened at $531.64 on Wednesday. Spotify Technology S.A. has a 1 year low of $213.31 and a 1 year high of $537.00. The company has a market cap of $105.82 billion, a price-to-earnings ratio of 144.47 and a beta of 1.62. The firm has a fifty day moving average of $476.28 and a 200-day moving average of $400.01.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($0.30). The company had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.03 billion. Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. The business’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.36 EPS. Analysts predict that Spotify Technology S.A. will post 5.91 EPS for the current year.

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.