Susquehanna Portfolio Strategies LLC Has $6.88 Million Position in Spotify Technology S.A. (NYSE:SPOT)

Susquehanna Portfolio Strategies LLC trimmed its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 15.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,937 shares of the company’s stock after selling 4,022 shares during the quarter. Susquehanna Portfolio Strategies LLC’s holdings in Spotify Technology were worth $6,884,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Clearbridge Investments LLC raised its position in Spotify Technology by 0.6% in the 1st quarter. Clearbridge Investments LLC now owns 6,892 shares of the company’s stock worth $1,819,000 after purchasing an additional 38 shares during the last quarter. Cigna Investments Inc. New grew its holdings in Spotify Technology by 3.3% during the 2nd quarter. Cigna Investments Inc. New now owns 1,260 shares of the company’s stock worth $395,000 after acquiring an additional 40 shares during the period. Moody Lynn & Lieberson LLC grew its holdings in Spotify Technology by 0.6% during the 2nd quarter. Moody Lynn & Lieberson LLC now owns 6,843 shares of the company’s stock worth $2,147,000 after acquiring an additional 40 shares during the period. Larson Financial Group LLC grew its holdings in Spotify Technology by 86.0% during the 1st quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock worth $25,000 after acquiring an additional 43 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in Spotify Technology by 4.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 981 shares of the company’s stock worth $337,000 after acquiring an additional 43 shares during the period. Institutional investors and hedge funds own 84.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on SPOT shares. Barclays lifted their target price on shares of Spotify Technology from $350.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Redburn Atlantic reaffirmed a “sell” rating and set a $230.00 target price on shares of Spotify Technology in a report on Wednesday, July 10th. DZ Bank raised shares of Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 target price for the company in a report on Wednesday, July 24th. KeyCorp boosted their price target on shares of Spotify Technology from $420.00 to $440.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Finally, Rosenblatt Securities boosted their price target on shares of Spotify Technology from $396.00 to $399.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $359.14.

Spotify Technology Stock Down 2.6 %

Shares of SPOT opened at $369.20 on Friday. Spotify Technology S.A. has a 52 week low of $145.76 and a 52 week high of $389.23. The firm has a market cap of $73.49 billion, a P/E ratio of -551.04 and a beta of 1.57. The firm’s 50-day simple moving average is $338.03 and its 200 day simple moving average is $310.22. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.56 and a current ratio of 1.56.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.25. Spotify Technology had a net margin of 3.22% and a return on equity of 15.23%. The business had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.82 billion. During the same quarter in the prior year, the business earned ($1.69) EPS. Spotify Technology’s quarterly revenue was up 19.8% on a year-over-year basis. On average, analysts forecast that Spotify Technology S.A. will post 6.26 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.