37,403 Shares in Spotify Technology S.A. (NYSE:SPOT) Acquired by Interval Partners LP

Interval Partners LP purchased a new stake in shares of Spotify Technology S.A. (NYSE:SPOT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 37,403 shares of the company’s stock, valued at approximately $11,737,000.

A number of other hedge funds have also modified their holdings of SPOT. Clearbridge Investments LLC lifted its stake in shares of Spotify Technology by 0.6% during the 1st quarter. Clearbridge Investments LLC now owns 6,892 shares of the company’s stock valued at $1,819,000 after buying an additional 38 shares in the last quarter. Cigna Investments Inc. New raised its position in shares of Spotify Technology by 3.3% during the second quarter. Cigna Investments Inc. New now owns 1,260 shares of the company’s stock valued at $395,000 after buying an additional 40 shares during the last quarter. Moody Lynn & Lieberson LLC lifted its holdings in shares of Spotify Technology by 0.6% in the second quarter. Moody Lynn & Lieberson LLC now owns 6,843 shares of the company’s stock worth $2,147,000 after buying an additional 40 shares in the last quarter. Larson Financial Group LLC boosted its position in shares of 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 acquiring an additional 43 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in Spotify Technology by 4.6% during the second quarter. EverSource Wealth Advisors LLC now owns 981 shares of the company’s stock valued at $337,000 after acquiring an additional 43 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Stock Performance

Shares of SPOT opened at $365.17 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.56 and a current ratio of 1.56. The stock has a 50-day moving average of $331.49 and a two-hundred day moving average of $307.67. The stock has a market cap of $69.46 billion, a P/E ratio of -545.03 and a beta of 1.57. Spotify Technology S.A. has a one year low of $145.76 and a one year high of $368.29.

Spotify Technology (NYSE:SPOT) last released its earnings results on Tuesday, July 23rd. The company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates 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 was up 19.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.69) earnings per share. As a group, research analysts predict that Spotify Technology S.A. will post 6.31 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. KeyCorp boosted their target price on Spotify Technology from $420.00 to $440.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Redburn Atlantic reaffirmed a “sell” rating and issued a $230.00 price objective on shares of Spotify Technology in a research report on Wednesday, July 10th. Morgan Stanley raised their target price on shares of Spotify Technology from $370.00 to $400.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Benchmark restated a “buy” rating and issued a $405.00 price objective on shares of Spotify Technology in a report on Monday, July 22nd. Finally, UBS Group lifted their price objective on shares of Spotify Technology from $375.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $359.14.

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.