Spotify Technology S.A. (NYSE:SPOT) Shares Acquired by DCF Advisers LLC

DCF Advisers LLC increased its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 82.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,650 shares of the company’s stock after purchasing an additional 1,650 shares during the quarter. DCF Advisers LLC’s holdings in Spotify Technology were worth $1,145,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of SPOT. Transcendent Capital Group LLC purchased a new position in shares of Spotify Technology in the 2nd quarter valued at about $25,000. Benjamin Edwards Inc. raised its holdings in Spotify Technology by 214.8% in the second quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock valued at $27,000 after acquiring an additional 58 shares in the last quarter. Larson Financial Group LLC lifted its stake in Spotify Technology by 86.0% in the first quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock worth $25,000 after acquiring an additional 43 shares during the last quarter. Mather Group LLC. grew its holdings 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 acquiring an additional 99 shares in the last quarter. Finally, Asset Dedication LLC purchased a new stake in shares of Spotify Technology in the 2nd quarter valued at approximately $35,000. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Trading Up 4.7 %

Shares of SPOT stock opened at $360.01 on Friday. The company has a market capitalization of $71.66 billion, a P/E ratio of -537.32 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 business’s 50 day moving average is $330.23 and its two-hundred day moving average is $306.45. Spotify Technology S.A. has a twelve month low of $145.76 and a twelve month high of $368.29.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $1.33 earnings per share 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 the consensus estimate of $3.82 billion. Spotify Technology had a return on equity of 15.23% and a net margin of 3.22%. The company’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same period last year, the company earned ($1.69) earnings per share. Equities analysts forecast that Spotify Technology S.A. will post 6.31 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Cantor Fitzgerald assumed coverage on shares of Spotify Technology in a research report on Thursday, September 5th. They set a “neutral” rating and a $340.00 price objective for the company. Guggenheim lifted their price target on Spotify Technology from $400.00 to $420.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Benchmark reaffirmed a “buy” rating and set a $405.00 price objective on shares of Spotify Technology in a research report on Monday, July 22nd. Rosenblatt Securities raised their target price on Spotify Technology from $396.00 to $399.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, TD Cowen upped their price target on Spotify Technology from $273.00 to $356.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat.com, Spotify Technology currently has an average rating of “Moderate Buy” and a consensus price target of $359.14.

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.