Slow Capital Inc. Raises Stake in Spotify Technology S.A. (NYSE:SPOT)

Slow Capital Inc. raised its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 0.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,459 shares of the company’s stock after acquiring an additional 37 shares during the period. Spotify Technology comprises approximately 0.9% of Slow Capital Inc.’s portfolio, making the stock its 24th biggest holding. Slow Capital Inc.’s holdings in Spotify Technology were worth $6,066,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in SPOT. GQG Partners LLC purchased a new stake in Spotify Technology during the 1st quarter valued at about $610,040,000. Bamco Inc. NY boosted its stake in shares of Spotify Technology by 28.3% during the first quarter. Bamco Inc. NY now owns 864,584 shares of the company’s stock valued at $228,164,000 after purchasing an additional 190,931 shares during the period. Swedbank AB grew its holdings in shares of Spotify Technology by 13.2% in the second quarter. Swedbank AB now owns 852,526 shares of the company’s stock worth $267,514,000 after purchasing an additional 99,730 shares during the last quarter. Perpetual Ltd increased its stake in shares of Spotify Technology by 24.3% in the third quarter. Perpetual Ltd now owns 759,681 shares of the company’s stock worth $279,965,000 after buying an additional 148,431 shares during the period. Finally, D1 Capital Partners L.P. raised its holdings in Spotify Technology by 5.6% during the 2nd quarter. D1 Capital Partners L.P. now owns 680,061 shares of the company’s stock valued at $213,396,000 after buying an additional 36,000 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Stock Up 3.3 %

Shares of Spotify Technology stock opened at $378.88 on Friday. The company has a 50-day simple moving average of $352.57 and a two-hundred day simple moving average of $322.71. The stock has a market capitalization of $75.42 billion, a PE ratio of 154.62 and a beta of 1.58. Spotify Technology S.A. has a 52-week low of $145.76 and a 52-week high of $389.23. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.56 and a current ratio of 1.56.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.25. Spotify Technology had a net margin of 3.22% and a return on equity of 15.23%. The company had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.82 billion. During the same period in the previous year, the business earned ($1.69) EPS. The firm’s revenue for the quarter was up 19.8% on a year-over-year basis. On average, analysts anticipate that Spotify Technology S.A. will post 6.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Guggenheim raised their price target on shares of Spotify Technology from $400.00 to $420.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. The Goldman Sachs Group upgraded Spotify Technology from a “neutral” rating to a “buy” rating and boosted their price target for the company from $320.00 to $425.00 in a report on Wednesday, July 24th. Morgan Stanley increased their price objective on Spotify Technology from $370.00 to $400.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Benchmark reissued a “buy” rating and set a $405.00 target price on shares of Spotify Technology in a research note on Monday, July 22nd. Finally, TD Cowen upped their target price on Spotify Technology from $273.00 to $356.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, Spotify Technology presently has an average rating of “Moderate Buy” and an average target price of $362.21.

Spotify Technology Company 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.