Assenagon Asset Management S.A. Has $140.12 Million Position in Spotify Technology S.A. (NYSE:SPOT)

Assenagon Asset Management S.A. grew its holdings in Spotify Technology S.A. (NYSE:SPOT) by 179.0% during the third quarter, Holdings Channel reports. The firm owned 380,214 shares of the company’s stock after acquiring an additional 243,933 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Spotify Technology were worth $140,120,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Larson Financial Group LLC raised its position in shares of Spotify Technology by 86.0% during the first quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock worth $25,000 after purchasing an additional 43 shares during the period. Transcendent Capital Group LLC acquired a new position in shares of Spotify Technology during the second quarter valued at about $25,000. Benjamin Edwards Inc. raised its holdings in shares of Spotify Technology by 214.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock worth $27,000 after acquiring an additional 58 shares during the last quarter. Mather Group LLC. lifted its position in Spotify Technology by 9,900.0% in the 2nd quarter. Mather Group LLC. now owns 100 shares of the company’s stock valued at $31,000 after acquiring an additional 99 shares in the last quarter. Finally, FinTrust Capital Advisors LLC boosted its stake in Spotify Technology by 400.0% during the 1st quarter. FinTrust Capital Advisors LLC now owns 125 shares of the company’s stock valued at $33,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Price Performance

Shares of Spotify Technology stock traded up $0.53 during trading on Thursday, hitting $380.37. The stock had a trading volume of 368,084 shares, compared to its average volume of 1,852,267. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.31. Spotify Technology S.A. has a 12 month low of $155.00 and a 12 month high of $389.48. The firm has a market cap of $75.71 billion, a price-to-earnings ratio of 155.06 and a beta of 1.58. The business’s 50-day moving average is $355.37 and its 200 day moving average is $324.84.

Spotify Technology (NYSE:SPOT) last announced its earnings results 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. The business had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.82 billion. Spotify Technology had a return on equity of 15.23% and a net margin of 3.22%. The company’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.69) EPS. As a group, sell-side analysts anticipate that Spotify Technology S.A. will post 6.22 earnings per share for the current year.

Analyst Ratings Changes

SPOT has been the topic of a number of recent research reports. Morgan Stanley raised their target price on Spotify Technology from $400.00 to $430.00 and gave the company an “overweight” rating in a report on Wednesday. JPMorgan Chase & Co. raised their price target on shares of Spotify Technology from $375.00 to $425.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Guggenheim boosted 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. Wolfe Research began coverage on shares of Spotify Technology in a research note on Friday, July 12th. They issued an “outperform” rating and a $390.00 price objective for the company. Finally, Evercore ISI boosted their target price on Spotify Technology from $420.00 to $460.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $363.24.

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.