Spotify Technology S.A. (NYSE:SPOT) Stake Boosted by Swedbank AB

Swedbank AB increased its stake in Spotify Technology S.A. (NYSE:SPOT) by 13.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 852,526 shares of the company’s stock after purchasing an additional 99,730 shares during the period. Swedbank AB owned 0.45% of Spotify Technology worth $267,514,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Larson Financial Group LLC grew its position in Spotify Technology by 86.0% in the 1st 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 last quarter. Mather Group LLC. grew its holdings in Spotify Technology by 9,900.0% in the 2nd quarter. Mather Group LLC. now owns 100 shares of the company’s stock worth $31,000 after buying an additional 99 shares in the last quarter. GAMMA Investing LLC acquired a new stake in Spotify Technology in the 4th quarter valued at approximately $32,000. FinTrust Capital Advisors LLC raised 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 acquiring an additional 100 shares in the last quarter. Finally, Lindbrook Capital LLC raised its stake in Spotify Technology by 32.3% during the 4th quarter. Lindbrook Capital LLC now owns 205 shares of the company’s stock valued at $39,000 after acquiring an additional 50 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Stock Up 0.4 %

Shares of SPOT traded up $1.50 during mid-day trading on Friday, reaching $337.09. The company’s stock had a trading volume of 1,513,169 shares, compared to its average volume of 1,993,243. The company has a market cap of $67.10 billion, a price-to-earnings ratio of -500.84 and a beta of 1.59. The business has a fifty day moving average of $317.49 and a 200 day moving average of $289.41. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.31. Spotify Technology S.A. has a 1 year low of $129.23 and a 1 year high of $359.38.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.25. Spotify Technology had a return on equity of 15.23% and a net margin of 3.22%. The firm had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.82 billion. During the same period in the prior year, the business earned ($1.69) EPS. The business’s revenue for the quarter was up 19.8% on a year-over-year basis. As a group, analysts forecast that Spotify Technology S.A. will post 6.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on SPOT shares. Guggenheim increased their target price on shares of Spotify Technology from $400.00 to $420.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. DZ Bank upgraded shares of Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 price objective for the company in a report on Wednesday, July 24th. Loop Capital raised their price objective on shares of Spotify Technology from $165.00 to $250.00 and gave the company a “hold” rating in a research note on Monday, April 22nd. Morgan Stanley upped their target price on Spotify Technology from $370.00 to $400.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Finally, The Goldman Sachs Group upgraded Spotify Technology from a “neutral” rating to a “buy” rating and lifted their price target for the company from $320.00 to $425.00 in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $353.15.

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.