Spotify Technology S.A. (NYSE:SPOT) Shares Bought by Beck Capital Management LLC

Beck Capital Management LLC increased its position in Spotify Technology S.A. (NYSE:SPOT) by 22.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,974 shares of the company’s stock after buying an additional 2,002 shares during the quarter. Beck Capital Management LLC’s holdings in Spotify Technology were worth $3,443,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. D1 Capital Partners L.P. raised its position in Spotify Technology by 5.6% in the second quarter. D1 Capital Partners L.P. now owns 680,061 shares of the company’s stock worth $213,396,000 after acquiring an additional 36,000 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Spotify Technology by 4.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 981 shares of the company’s stock worth $337,000 after purchasing an additional 43 shares in the last quarter. Gabelli Funds LLC lifted its stake in Spotify Technology by 15.2% during the second quarter. Gabelli Funds LLC now owns 54,826 shares of the company’s stock valued at $17,204,000 after purchasing an additional 7,227 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in Spotify Technology during the second quarter worth approximately $912,000. Finally, Quest Investment Management LLC acquired a new position in Spotify Technology in the second quarter worth approximately $1,679,000. Institutional investors own 84.09% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on SPOT shares. KeyCorp increased their price objective on Spotify Technology from $420.00 to $440.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Pivotal Research upped their target price on Spotify Technology from $460.00 to $510.00 and gave the company a “buy” rating in a report on Thursday. DZ Bank raised Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 price target on the stock in a research note on Wednesday, July 24th. UBS Group upped their price objective on shares of Spotify Technology from $375.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Finally, The Goldman Sachs Group raised shares of Spotify Technology from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $320.00 to $425.00 in a research report on Wednesday, July 24th. 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 company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $359.14.

Spotify Technology Price Performance

NYSE SPOT opened at $365.17 on Monday. The company has a 50 day moving average price of $331.49 and a two-hundred day moving average price of $307.67. Spotify Technology S.A. has a 12-month low of $145.76 and a 12-month high of $368.29. The stock has a market capitalization of $69.46 billion, a PE ratio of -545.03 and a beta of 1.57. The company has a quick ratio of 1.56, a current 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, beating the consensus estimate of $1.08 by $0.25. The business had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.82 billion. Spotify Technology had a net margin of 3.22% and a return on equity of 15.23%. Spotify Technology’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.69) EPS. As a group, equities analysts predict that Spotify Technology S.A. will post 6.31 earnings per share for the current fiscal year.

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.