Vontobel Holding Ltd. Has $6.33 Million Stock Position in Spotify Technology S.A. (NYSE:SPOT)

Vontobel Holding Ltd. lifted its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 48.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,165 shares of the company’s stock after purchasing an additional 5,579 shares during the quarter. Vontobel Holding Ltd.’s holdings in Spotify Technology were worth $6,326,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of SPOT. Mirae Asset Global Investments Co. Ltd. boosted its stake in Spotify Technology by 30.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 79,667 shares of the company’s stock worth $21,024,000 after buying an additional 18,731 shares in the last quarter. Perpetual Ltd increased its stake in Spotify Technology by 24.3% in the third quarter. Perpetual Ltd now owns 759,681 shares of the company’s stock valued at $279,965,000 after acquiring an additional 148,431 shares during the period. TD Asset Management Inc raised its position in Spotify Technology by 2.4% in the first quarter. TD Asset Management Inc now owns 512,841 shares of the company’s stock worth $135,339,000 after purchasing an additional 12,192 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in Spotify Technology by 121.6% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 7,399 shares of the company’s stock worth $2,322,000 after purchasing an additional 4,060 shares during the period. Finally, Ritholtz Wealth Management boosted its holdings in Spotify Technology by 64.7% during the third quarter. Ritholtz Wealth Management now owns 4,495 shares of the company’s stock valued at $1,657,000 after purchasing an additional 1,765 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Trading Down 1.3 %

SPOT opened at $366.75 on Friday. Spotify Technology S.A. has a twelve month low of $145.76 and a twelve month high of $389.23. The firm has a market cap of $73.00 billion, a PE ratio of 149.69 and a beta of 1.58. 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 firm’s fifty day moving average is $351.79 and its two-hundred day moving average is $321.93.

Spotify Technology (NYSE:SPOT) last posted its 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. Spotify Technology had a return on equity of 15.23% and a net margin of 3.22%. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.82 billion. During the same period in the previous year, the company posted ($1.69) earnings per share. The company’s revenue for the quarter was up 19.8% on a year-over-year basis. Equities research analysts anticipate that Spotify Technology S.A. will post 6.24 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on SPOT shares. Pivotal Research increased their target price on Spotify Technology from $460.00 to $510.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. UBS Group lifted their price objective on Spotify Technology from $375.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, July 11th. TD Cowen upped their target price on shares of Spotify Technology from $273.00 to $356.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. The Goldman Sachs Group raised shares of Spotify Technology from a “neutral” rating to a “buy” rating and lifted their price target for the company from $320.00 to $425.00 in a report on Wednesday, July 24th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $340.00 target price on shares of Spotify Technology in a research note on Monday, October 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $362.21.

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.