D1 Capital Partners L.P. Boosts Stake in Spotify Technology S.A. (NYSE:SPOT)

D1 Capital Partners L.P. raised its stake in Spotify Technology S.A. (NYSE:SPOT) by 5.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 680,061 shares of the company’s stock after acquiring an additional 36,000 shares during the period. Spotify Technology makes up about 3.6% of D1 Capital Partners L.P.’s portfolio, making the stock its 10th biggest holding. D1 Capital Partners L.P.’s holdings in Spotify Technology were worth $213,396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently modified their holdings of the stock. GQG Partners LLC acquired a new position in Spotify Technology in the first quarter valued at about $610,040,000. Artisan Partners Limited Partnership increased its holdings in Spotify Technology by 24.7% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,400,811 shares of the company’s stock valued at $263,226,000 after buying an additional 277,733 shares during the period. Bamco Inc. NY raised its position in shares of Spotify Technology by 28.3% in the 1st quarter. Bamco Inc. NY now owns 864,584 shares of the company’s stock valued at $228,164,000 after buying an additional 190,931 shares in the last quarter. Swedbank AB lifted its holdings in shares of Spotify Technology by 13.2% during the 2nd quarter. Swedbank AB now owns 852,526 shares of the company’s stock worth $267,514,000 after acquiring an additional 99,730 shares during the period. Finally, Sei Investments Co. boosted its position in shares of Spotify Technology by 106.8% during the 2nd quarter. Sei Investments Co. now owns 646,380 shares of the company’s stock worth $202,828,000 after acquiring an additional 333,782 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on SPOT shares. Pivotal Research boosted their price objective on shares of Spotify Technology from $460.00 to $510.00 and gave the company a “buy” rating in a research report on Thursday. Guggenheim upped their price objective on Spotify Technology from $400.00 to $420.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. KeyCorp raised their price objective on Spotify Technology from $420.00 to $440.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Cantor Fitzgerald started coverage on Spotify Technology in a research note on Thursday, September 5th. They set a “neutral” rating and a $340.00 target price for the company. Finally, Barclays raised their price target on shares of Spotify Technology from $350.00 to $360.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. One equities 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 data from MarketBeat, Spotify Technology has an average rating of “Moderate Buy” and an average target price of $359.14.

Spotify Technology Price Performance

SPOT stock opened at $365.17 on Monday. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.31. The firm has a market cap of $69.46 billion, a price-to-earnings ratio of -545.03 and a beta of 1.57. The company’s fifty day simple moving average is $331.49 and its 200 day simple moving average is $307.67. Spotify Technology S.A. has a 12-month low of $145.76 and a 12-month high of $368.29.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.25. Spotify Technology had a net margin of 3.22% and a return on equity of 15.23%. The company had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.82 billion. During the same quarter in the previous year, the business posted ($1.69) EPS. Spotify Technology’s revenue for the quarter was up 19.8% compared to the same quarter last year. On average, analysts expect that Spotify Technology S.A. will post 6.31 earnings per share for the current year.

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.