Chicago Capital LLC Makes New $1.02 Million Investment in Spotify Technology S.A. (NYSE:SPOT)

Chicago Capital LLC acquired a new stake in shares of Spotify Technology S.A. (NYSE:SPOT) during the third quarter, according to its most recent filing with the SEC. The fund acquired 2,756 shares of the company’s stock, valued at approximately $1,016,000.

A number of other institutional investors have also added to or reduced their stakes in SPOT. Transcendent Capital Group LLC bought a new position in Spotify Technology in the 2nd quarter worth about $25,000. Benjamin Edwards Inc. lifted its holdings in shares of Spotify Technology by 214.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock worth $27,000 after acquiring an additional 58 shares during the last quarter. Larson Financial Group LLC grew its position in Spotify Technology by 86.0% in the first quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock worth $25,000 after acquiring an additional 43 shares in the last quarter. Mather Group LLC. raised its position in Spotify Technology by 9,900.0% during the second quarter. Mather Group LLC. now owns 100 shares of the company’s stock valued at $31,000 after purchasing an additional 99 shares in the last quarter. Finally, V Square Quantitative Management LLC bought a new stake in Spotify Technology during the third quarter worth about $40,000. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Wall Street Analyst Weigh In

SPOT has been the topic of several recent research reports. DZ Bank upgraded Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 price objective on the stock in a research report on Wednesday, July 24th. Macquarie lifted their price target on shares of Spotify Technology from $345.00 to $395.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Evercore ISI boosted their price objective on shares of Spotify Technology from $420.00 to $460.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Barclays boosted their price target on shares of Spotify Technology from $350.00 to $360.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Finally, Rosenblatt Securities raised their price objective on Spotify Technology from $399.00 to $438.00 and gave the company a “buy” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $362.21.

Spotify Technology Trading Up 3.3 %

Spotify Technology stock opened at $378.88 on Monday. The business has a 50-day simple moving average of $352.57 and a two-hundred day simple moving average of $323.30. Spotify Technology S.A. has a 52-week low of $145.76 and a 52-week high of $389.23. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.31. The company has a market cap of $72.06 billion, a P/E ratio of -565.49 and a beta of 1.58.

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