Impax Asset Management Group plc Purchases 904 Shares of Spotify Technology S.A. (NYSE:SPOT)

Impax Asset Management Group plc boosted its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 36.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,381 shares of the company’s stock after buying an additional 904 shares during the quarter. Impax Asset Management Group plc’s holdings in Spotify Technology were worth $1,246,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. WCM Investment Management LLC increased its holdings in Spotify Technology by 18.5% during the 3rd quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock valued at $1,430,142,000 after purchasing an additional 605,755 shares during the period. GQG Partners LLC purchased a new position in Spotify Technology during the 1st quarter valued at $610,040,000. Bamco Inc. NY raised its holdings in Spotify Technology by 28.3% in the 1st quarter. Bamco Inc. NY now owns 864,584 shares of the company’s stock worth $228,164,000 after purchasing an additional 190,931 shares in the last quarter. Swedbank AB lifted its position in shares of Spotify Technology by 13.2% in the 2nd 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 period. Finally, Perpetual Ltd boosted its stake in shares of Spotify Technology by 24.3% during the 3rd quarter. Perpetual Ltd now owns 759,681 shares of the company’s stock valued at $279,965,000 after purchasing an additional 148,431 shares in the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Price Performance

NYSE SPOT opened at $458.32 on Friday. The company has a 50-day moving average price of $378.15 and a 200-day moving average price of $338.24. Spotify Technology S.A. has a 52 week low of $170.62 and a 52 week high of $489.69. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $91.23 billion, a P/E ratio of 124.54 and a beta of 1.56.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings results 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). Spotify Technology had a return on equity of 20.99% and a net margin of 4.66%. The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.03 billion. During the same quarter in the previous year, the business posted $0.36 earnings per share. The firm’s revenue was up 18.8% on a year-over-year basis. Equities research analysts anticipate that Spotify Technology S.A. will post 6.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Cantor Fitzgerald reissued a “neutral” rating and issued a $340.00 price target on shares of Spotify Technology in a research note on Monday, October 7th. TD Cowen increased their target price on Spotify Technology from $356.00 to $416.00 and gave the stock a “hold” rating in a research report on Wednesday. Morgan Stanley lifted their price target on Spotify Technology from $430.00 to $460.00 and gave the company an “overweight” rating in a research report on Wednesday. Rosenblatt Securities increased their price objective on Spotify Technology from $399.00 to $438.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Finally, Pivotal Research raised their price objective on Spotify Technology from $510.00 to $565.00 and gave the company a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $421.69.

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.