Edgestream Partners L.P. Has $5.99 Million Stock Holdings in Spotify Technology S.A. (NYSE:SPOT)

Edgestream Partners L.P. decreased its holdings in Spotify Technology S.A. (NYSE:SPOT) by 5.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 19,098 shares of the company’s stock after selling 1,055 shares during the period. Edgestream Partners L.P.’s holdings in Spotify Technology were worth $5,993,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SPOT. Larson Financial Group LLC grew its position in Spotify Technology by 86.0% in the first quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock valued at $25,000 after acquiring an additional 43 shares during the last quarter. Transcendent Capital Group LLC bought a new stake in shares of Spotify Technology during the 2nd quarter valued at approximately $25,000. Mather Group LLC. increased its position in Spotify Technology by 9,900.0% during the 2nd quarter. Mather Group LLC. now owns 100 shares of the company’s stock worth $31,000 after purchasing an additional 99 shares in the last quarter. FinTrust Capital Advisors LLC lifted its stake in Spotify Technology by 400.0% in 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. Finally, Asset Dedication LLC acquired a new stake in Spotify Technology in the second quarter valued at approximately $35,000. Institutional investors and hedge funds own 84.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Evercore ISI increased their price target on Spotify Technology from $420.00 to $460.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. DZ Bank upgraded Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 target price for the company in a research report on Wednesday, July 24th. TD Cowen boosted their price target on Spotify Technology from $273.00 to $356.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. KeyCorp raised their price objective on shares of Spotify Technology from $420.00 to $440.00 and gave the company an “overweight” rating in a report on Monday. Finally, UBS Group boosted their target price on shares of Spotify Technology from $375.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $357.41.

Spotify Technology Price Performance

SPOT stock opened at $338.56 on Tuesday. Spotify Technology S.A. has a 1 year low of $145.76 and a 1 year high of $359.38. The stock has a market capitalization of $67.39 billion, a PE ratio of -505.31 and a beta of 1.57. The company’s 50-day moving average is $327.66 and its 200-day moving average is $305.26. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.56 and a quick ratio of 1.56.

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 the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.69) earnings per share. Equities research analysts expect that Spotify Technology S.A. will post 6.31 EPS for the current fiscal year.

About Spotify Technology

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.