Bailard Inc. Grows Stock Holdings in Spotify Technology S.A. (NYSE:SPOT)

Bailard Inc. grew its holdings in Spotify Technology S.A. (NYSE:SPOT) by 1,115.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,546 shares of the company’s stock after acquiring an additional 13,349 shares during the period. Bailard Inc.’s holdings in Spotify Technology were worth $4,564,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in SPOT. Transcendent Capital Group LLC purchased a new stake in Spotify Technology during the second quarter worth $25,000. Larson Financial Group LLC boosted its holdings in Spotify Technology by 86.0% during the first quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock worth $25,000 after buying an additional 43 shares in the last quarter. Mather Group LLC. boosted its holdings in Spotify Technology by 9,900.0% during the second 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. FinTrust Capital Advisors LLC boosted its holdings in Spotify Technology by 400.0% during the first quarter. FinTrust Capital Advisors LLC now owns 125 shares of the company’s stock worth $33,000 after buying an additional 100 shares in the last quarter. Finally, Fifth Third Bancorp boosted its holdings in Spotify Technology by 640.0% during the second quarter. Fifth Third Bancorp now owns 148 shares of the company’s stock worth $46,000 after buying an additional 128 shares in the last quarter. 84.09% of the stock is owned by hedge funds and other institutional investors.

Spotify Technology Price Performance

Spotify Technology stock opened at $336.17 on Tuesday. Spotify Technology S.A. has a 12-month low of $138.26 and a 12-month high of $359.38. The stock has a market cap of $63.94 billion, a P/E ratio of -501.75 and a beta of 1.59. The company has a 50-day moving average price of $321.88 and a 200 day moving average price of $296.04. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.31.

Spotify Technology (NYSE:SPOT) last released 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. The firm had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.82 billion. Spotify Technology had a net margin of 3.22% and a return on equity of 15.23%. Spotify Technology’s revenue was up 19.8% compared to the same quarter last year. During the same period last year, the business earned ($1.69) earnings per share. Sell-side analysts anticipate that Spotify Technology S.A. will post 6.32 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Pivotal Research increased their price target on shares of Spotify Technology from $400.00 to $460.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Wolfe Research assumed coverage on shares of Spotify Technology in a report on Friday, July 12th. They set an “outperform” rating and a $390.00 price target on the stock. Macquarie increased their price objective on shares of Spotify Technology from $345.00 to $395.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Guggenheim increased their price objective on shares of Spotify Technology from $400.00 to $420.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, DZ Bank raised shares of Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 price objective on the stock in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $353.15.

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.