HRT Financial LLC Takes $363,000 Position in Spotify (NASDAQ:SPOT)

HRT Financial LLC bought a new position in shares of Spotify (NASDAQ:SPOT) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,207 shares of the company’s stock, valued at approximately $363,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. River & Mercantile Asset Management LLP raised its holdings in shares of Spotify by 13.3% in the fourth quarter. River & Mercantile Asset Management LLP now owns 69,781 shares of the company’s stock worth $7,920,000 after acquiring an additional 8,179 shares during the last quarter. Sycomore Asset Management acquired a new position in Spotify in the fourth quarter valued at $3,596,000. Voloridge Investment Management LLC acquired a new position in Spotify in the fourth quarter valued at $3,197,000. Paloma Partners Management Co acquired a new position in Spotify in the fourth quarter valued at $295,000. Finally, Naya Capital Management UK Ltd. increased its stake in Spotify by 61.4% in the fourth quarter. Naya Capital Management UK Ltd. now owns 500,081 shares of the company’s stock valued at $56,759,000 after purchasing an additional 190,281 shares during the last quarter.

NASDAQ:SPOT traded up $1.96 on Friday, hitting $139.65. 1,119,159 shares of the stock were exchanged, compared to its average volume of 1,660,435. Spotify has a fifty-two week low of $103.29 and a fifty-two week high of $198.99.

Spotify (NASDAQ:SPOT) last announced its quarterly earnings results on Wednesday, February 6th. The company reported $0.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.24) by $0.65. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. The business’s revenue was up 30.1% compared to the same quarter last year.

Several equities analysts recently commented on SPOT shares. UBS Group dropped their target price on Spotify from $182.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, April 16th. Rosenblatt Securities reiterated a “buy” rating and issued a $169.00 target price (down from $171.00) on shares of Spotify in a research note on Sunday, February 10th. Deutsche Bank dropped their target price on Spotify from $152.00 to $135.00 and set a “hold” rating for the company in a research note on Monday, January 7th. Wells Fargo & Co dropped their target price on Spotify from $150.00 to $140.00 and set a “market perform” rating for the company in a research note on Wednesday, January 16th. Finally, Guggenheim lowered Spotify from a “buy” rating to a “neutral” rating and dropped their target price for the company from $190.00 to $120.00 in a research note on Monday, January 7th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $188.14.

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Spotify Company Profile

Spotify Technology SA is an innovative digital music service offering music fans instant access to a world of music. The company enables on-demand streaming of audio content and aim to combat music piracy by offering a user experience, while monetizing licensed content with both an ad-supported, free-to-the-user model and a premium, paid model.

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Institutional Ownership by Quarter for Spotify (NASDAQ:SPOT)

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