Xponance Inc. Acquires 472 Shares of Spotify Technology S.A. (NYSE:SPOT)

Xponance Inc. raised its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 2.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,655 shares of the company’s stock after purchasing an additional 472 shares during the quarter. Xponance Inc.’s holdings in Spotify Technology were worth $6,168,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bank of Montreal Can increased its stake in Spotify Technology by 489.7% during the 2nd quarter. Bank of Montreal Can now owns 139,741 shares of the company’s stock valued at $44,910,000 after purchasing an additional 116,045 shares in the last quarter. Beck Capital Management LLC increased its stake in Spotify Technology by 22.3% during the 2nd quarter. Beck Capital Management LLC now owns 10,974 shares of the company’s stock valued at $3,443,000 after purchasing an additional 2,002 shares in the last quarter. D1 Capital Partners L.P. increased its stake 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 purchasing an additional 36,000 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Spotify Technology by 4.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 981 shares of the company’s stock worth $337,000 after acquiring an additional 43 shares in the last quarter. Finally, Gabelli Funds LLC grew its stake in shares of Spotify Technology by 15.2% in the 2nd quarter. Gabelli Funds LLC now owns 54,826 shares of the company’s stock worth $17,204,000 after acquiring an additional 7,227 shares in the last quarter. Institutional investors own 84.09% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Spotify Technology from $375.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Benchmark reiterated a “buy” rating and issued a $405.00 target price on shares of Spotify Technology in a research note on Monday, July 22nd. Redburn Atlantic reiterated a “sell” rating and issued a $230.00 target price on shares of Spotify Technology in a research note on Wednesday, July 10th. Bank of America upped their target price on shares of Spotify Technology from $370.00 to $380.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Finally, DZ Bank upgraded shares of Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 target price for the company in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $359.14.

Spotify Technology Trading Up 3.1 %

Shares of Spotify Technology stock opened at $380.31 on Wednesday. Spotify Technology S.A. has a 12-month low of $145.76 and a 12-month high of $382.60. The company has a market cap of $75.70 billion, a price-to-earnings ratio of -567.62 and a beta of 1.57. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.31. The company’s 50-day moving average price is $334.46 and its 200-day moving average price is $309.21.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $1.33 earnings per share (EPS) 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 firm had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same period in the prior year, the firm posted ($1.69) earnings per share. The company’s revenue for the quarter was up 19.8% on a year-over-year basis. On average, equities analysts expect that Spotify Technology S.A. will post 6.26 earnings per share for the current fiscal year.

Spotify Technology 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.