Spotify Technology S.A. (NYSE:SPOT) Shares Acquired by International Assets Investment Management LLC

International Assets Investment Management LLC lifted its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 36,910.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 347,524 shares of the company’s stock after purchasing an additional 346,585 shares during the quarter. International Assets Investment Management LLC owned about 0.17% of Spotify Technology worth $128,073,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. GQG Partners LLC bought a new position in Spotify Technology in the 1st quarter worth approximately $610,040,000. Swedbank AB bought a new position in Spotify Technology in the 1st quarter worth approximately $198,663,000. Sei Investments Co. grew its holdings in Spotify Technology by 106.8% in the 2nd quarter. Sei Investments Co. now owns 646,380 shares of the company’s stock worth $202,828,000 after buying an additional 333,782 shares in the last quarter. Castle Hook Partners LP bought a new position in Spotify Technology in the 1st quarter worth approximately $60,870,000. Finally, Bamco Inc. NY grew its holdings in Spotify Technology by 28.3% in the 1st quarter. Bamco Inc. NY now owns 864,584 shares of the company’s stock worth $228,164,000 after buying an additional 190,931 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on SPOT shares. Barclays increased their price objective on Spotify Technology from $350.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Macquarie increased their price target on Spotify Technology from $345.00 to $395.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Bank of America increased their price target on Spotify Technology from $370.00 to $380.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Rosenblatt Securities increased their price target on Spotify Technology from $399.00 to $438.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $340.00 price target on shares of Spotify Technology in a research note on Monday, October 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat, Spotify Technology currently has an average rating of “Moderate Buy” and a consensus target price of $369.43.

Spotify Technology Trading Up 0.7 %

Spotify Technology stock opened at $379.37 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.56 and a quick ratio of 1.56. The company has a market capitalization of $72.16 billion, a price-to-earnings ratio of -566.22 and a beta of 1.58. Spotify Technology S.A. has a one year low of $155.00 and a one year high of $389.48. The company’s fifty day moving average price is $356.19 and its two-hundred day moving average price is $325.20.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings results 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 company had revenue of $3.81 billion for 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 firm’s revenue was up 19.8% compared to the same quarter last year. During the same period last year, the business posted ($1.69) earnings per share. On average, analysts forecast that Spotify Technology S.A. will post 6.22 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.