Maven Securities LTD Takes Position in Spotify Technology S.A. (NYSE:SPOT)

Maven Securities LTD bought a new stake in shares of Spotify Technology S.A. (NYSE:SPOT) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 905 shares of the company’s stock, valued at approximately $284,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Larson Financial Group LLC lifted its holdings in Spotify Technology by 86.0% during the first quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock valued at $25,000 after purchasing an additional 43 shares in the last quarter. Transcendent Capital Group LLC acquired a new position in shares of Spotify Technology during the 2nd quarter worth about $25,000. Benjamin Edwards Inc. lifted its stake in Spotify Technology by 214.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock valued at $27,000 after buying an additional 58 shares in the last quarter. Mather Group LLC. boosted its holdings in Spotify Technology by 9,900.0% in the 2nd quarter. Mather Group LLC. now owns 100 shares of the company’s stock worth $31,000 after buying an additional 99 shares during the last quarter. Finally, FinTrust Capital Advisors LLC increased its stake in Spotify Technology by 400.0% during the 1st quarter. FinTrust Capital Advisors LLC now owns 125 shares of the company’s stock worth $33,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Stock Performance

NYSE:SPOT opened at $374.87 on Thursday. Spotify Technology S.A. has a fifty-two week low of $145.76 and a fifty-two week high of $389.23. 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 company has a 50 day moving average price of $342.63 and a 200 day moving average price of $313.83. The stock has a market capitalization of $74.62 billion, a P/E ratio of -559.50 and a beta of 1.57.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $1.33 earnings per share for the quarter, beating 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 business had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.82 billion. During the same period in the previous year, the firm posted ($1.69) earnings per share. The company’s revenue was up 19.8% on a year-over-year basis. Equities research analysts forecast that Spotify Technology S.A. will post 6.26 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SPOT. JPMorgan Chase & Co. lifted their price target on Spotify Technology from $375.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. 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 raised their price target for the stock from $320.00 to $425.00 in a research note on Wednesday, July 24th. Macquarie boosted their price target on shares of Spotify Technology from $345.00 to $395.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Finally, Barclays increased their price objective on shares of Spotify Technology from $350.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat, Spotify Technology has a consensus rating of “Moderate Buy” and a consensus target price of $359.14.

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.