Spotify Technology S.A. (NYSE:SPOT) Shares Bought by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund lifted its position in Spotify Technology S.A. (NYSE:SPOT) by 4,605.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,300 shares of the company’s stock after acquiring an additional 37,486 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Spotify Technology were worth $12,018,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in SPOT. Advisory Services Network LLC acquired a new position in shares of Spotify Technology in the 4th quarter worth approximately $166,000. Steward Partners Investment Advisory LLC boosted its position in Spotify Technology by 4.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,297 shares of the company’s stock valued at $432,000 after purchasing an additional 97 shares during the period. Royal London Asset Management Ltd. boosted its position in Spotify Technology by 5.5% during the 4th quarter. Royal London Asset Management Ltd. now owns 56,670 shares of the company’s stock valued at $10,649,000 after purchasing an additional 2,966 shares during the period. Capital International Sarl acquired a new position in Spotify Technology during the 4th quarter valued at approximately $221,000. Finally, Tower Research Capital LLC TRC boosted its position in Spotify Technology by 9.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,939 shares of the company’s stock valued at $1,680,000 after purchasing an additional 776 shares during the period. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Price Performance

Shares of NYSE:SPOT opened at $372.50 on Friday. The business has a 50 day moving average price of $343.50 and a 200 day moving average price of $314.24. 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 S.A. has a twelve month low of $145.76 and a twelve month high of $389.23. The company has a market cap of $74.15 billion, a price-to-earnings ratio of -555.96 and a beta of 1.57.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.25. Spotify Technology had a return on equity of 15.23% and a net margin of 3.22%. The company had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter last year, the company earned ($1.69) EPS. The company’s quarterly revenue was up 19.8% on a year-over-year basis. Research analysts predict that Spotify Technology S.A. will post 6.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SPOT shares. KeyCorp boosted 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. Bank of America boosted their price objective on Spotify Technology from $370.00 to $380.00 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Pivotal Research lifted their target price on Spotify Technology from $460.00 to $510.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. lifted their target price on Spotify Technology from $375.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Finally, Macquarie lifted their target price on Spotify Technology from $345.00 to $395.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.