Spotify Technology S.A. (NYSE:SPOT) Position Boosted by Caprock Group LLC

Caprock Group LLC raised its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 4.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,696 shares of the company’s stock after acquiring an additional 199 shares during the quarter. Caprock Group LLC’s holdings in Spotify Technology were worth $1,731,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. WCM Investment Management LLC grew its stake in shares of Spotify Technology by 18.5% in 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 buying an additional 605,755 shares in the last quarter. Bamco Inc. NY grew its stake in shares of Spotify Technology by 28.3% in the 1st quarter. Bamco Inc. NY now owns 864,584 shares of the company’s stock valued at $228,164,000 after buying an additional 190,931 shares in the last quarter. Swedbank AB grew its stake in shares of Spotify Technology by 13.2% in the 2nd quarter. Swedbank AB now owns 852,526 shares of the company’s stock valued at $267,514,000 after buying an additional 99,730 shares in the last quarter. Perpetual Ltd grew its stake in shares of Spotify Technology by 24.3% in the 3rd quarter. Perpetual Ltd now owns 759,681 shares of the company’s stock valued at $279,965,000 after buying an additional 148,431 shares in the last quarter. Finally, D1 Capital Partners L.P. grew its stake in shares of Spotify Technology by 5.6% in 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 in the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft boosted their price target on Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Benchmark boosted their target price on Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Evercore ISI boosted their target price on Spotify Technology from $420.00 to $460.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. The Goldman Sachs Group boosted their target price on Spotify Technology from $430.00 to $490.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, JPMorgan Chase & Co. boosted their target price on Spotify Technology from $425.00 to $530.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $421.69.

Spotify Technology Trading Up 1.4 %

SPOT opened at $470.24 on Thursday. The stock has a market cap of $93.60 billion, a PE ratio of 127.78 and a beta of 1.56. Spotify Technology S.A. has a 1 year low of $178.01 and a 1 year high of $489.69. The stock’s 50 day simple moving average is $386.17 and its 200-day simple moving average is $341.83.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $1.45 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.30). Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.03 billion. During the same quarter last year, the company earned $0.36 earnings per share. The business’s revenue was up 18.8% on a year-over-year basis. Equities analysts forecast that Spotify Technology S.A. will post 6.09 earnings per share for the current fiscal year.

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.