Fiera Capital Corp Has $13.70 Million Stake in Spotify Technology $SPOT

Fiera Capital Corp grew its stake in Spotify Technology (NYSE:SPOT) by 99.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,584 shares of the company’s stock after purchasing an additional 11,749 shares during the period. Fiera Capital Corp’s holdings in Spotify Technology were worth $13,695,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. KERR FINANCIAL PLANNING Corp acquired a new stake in Spotify Technology in the 3rd quarter worth $26,000. Newbridge Financial Services Group Inc. bought a new position in Spotify Technology during the 4th quarter valued at about $35,000. JPL Wealth Management LLC bought a new position in Spotify Technology during the 3rd quarter valued at about $35,000. Kozak & Associates Inc. lifted its holdings in Spotify Technology by 1,700.0% during the 4th quarter. Kozak & Associates Inc. now owns 72 shares of the company’s stock valued at $39,000 after purchasing an additional 68 shares during the last quarter. Finally, Eastern Bank raised its stake in shares of Spotify Technology by 110.5% in the fourth quarter. Eastern Bank now owns 80 shares of the company’s stock worth $46,000 after acquiring an additional 42 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Price Performance

SPOT opened at $503.57 on Tuesday. The company has a market cap of $103.67 billion, a price-to-earnings ratio of 40.12, a price-to-earnings-growth ratio of 1.21 and a beta of 1.56. The firm has a 50 day simple moving average of $481.52 and a 200 day simple moving average of $513.25. Spotify Technology has a fifty-two week low of $405.00 and a fifty-two week high of $785.00.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $4.04 earnings per share for the quarter, topping analysts’ consensus estimates of $3.41 by $0.63. The business had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.23 billion. Spotify Technology had a net margin of 15.56% and a return on equity of 35.73%. Spotify Technology’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.07 earnings per share. As a group, analysts expect that Spotify Technology will post 14.72 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SPOT shares. Citizens Jmp boosted their target price on shares of Spotify Technology from $600.00 to $625.00 and gave the stock a “market outperform” rating in a research note on Friday, May 22nd. UBS Group dropped their target price on shares of Spotify Technology from $760.00 to $735.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Weiss Ratings raised shares of Spotify Technology from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 4th. Canaccord Genuity Group dropped their target price on shares of Spotify Technology from $750.00 to $720.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Spotify Technology from $600.00 to $650.00 and gave the stock an “overweight” rating in a research note on Friday, May 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Spotify Technology has an average rating of “Moderate Buy” and an average target price of $655.92.

Insider Buying and Selling at Spotify Technology

In related news, Director Sven Hans Martin Lorentzon sold 35,380 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $525.73, for a total transaction of $18,600,327.40. Following the completion of the sale, the director directly owned 6,383 shares of the company’s stock, valued at $3,355,734.59. The trade was a 84.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Thomas O. Staggs sold 5,477 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $526.00, for a total transaction of $2,880,902.00. Following the sale, the director directly owned 3,619 shares of the company’s stock, valued at approximately $1,903,594. This trade represents a 60.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 111,442 shares of company stock valued at $54,647,508 over the last 90 days. Company insiders own 0.40% of the company’s stock.

Spotify Technology Company Profile

Spotify Technology is a digital audio streaming company best known for its on-demand music service and a growing portfolio of spoken-word content. Founded in Sweden in 2006 by Daniel Ek and Martin Lorentzon and launched commercially in 2008, the company offers a cross-platform app that enables users to discover, stream and organize music, podcasts and other audio. Its primary consumer products include a free, ad-supported tier and a paid Spotify Premium subscription that provides ad-free listening, offline playback and higher-quality audio streams.