V Square Quantitative Management LLC Invests $40,000 in Spotify Technology S.A. (NYSE:SPOT)

V Square Quantitative Management LLC acquired a new stake in shares of Spotify Technology S.A. (NYSE:SPOT) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 109 shares of the company’s stock, valued at approximately $40,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. raised its holdings in Spotify Technology by 30.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 79,667 shares of the company’s stock valued at $21,024,000 after acquiring an additional 18,731 shares during the last quarter. Perpetual Ltd increased its stake in shares of Spotify Technology by 24.3% during the 3rd 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 last quarter. TD Asset Management Inc lifted its holdings in shares of Spotify Technology by 2.4% during the 1st quarter. TD Asset Management Inc now owns 512,841 shares of the company’s stock worth $135,339,000 after acquiring an additional 12,192 shares during the period. Envestnet Portfolio Solutions Inc. boosted its position in shares of Spotify Technology by 121.6% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 7,399 shares of the company’s stock worth $2,322,000 after acquiring an additional 4,060 shares during the last quarter. Finally, Ritholtz Wealth Management grew its holdings in Spotify Technology by 64.7% in 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 during the period. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SPOT. Rosenblatt Securities lifted their price target on shares of Spotify Technology from $399.00 to $438.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Barclays lifted their target price on Spotify Technology from $350.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. TD Cowen upped their price target on Spotify Technology from $273.00 to $356.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Evercore ISI lifted their price objective on Spotify Technology from $420.00 to $460.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $340.00 target price on shares of Spotify Technology in a research report on Monday, October 7th. One investment 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 an average rating of “Moderate Buy” and a consensus target price of $362.21.

Spotify Technology Stock Performance

Shares of SPOT stock opened at $381.68 on Tuesday. The stock has a market capitalization of $75.97 billion, a price-to-earnings ratio of 155.79 and a beta of 1.58. Spotify Technology S.A. has a one year low of $145.79 and a one year high of $389.23. The company’s 50-day simple moving average is $353.40 and its 200-day simple moving average is $323.91. 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 released its earnings results on Tuesday, July 23rd. The company reported $1.33 EPS for the quarter, topping 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 company had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter last year, the business posted ($1.69) EPS. Spotify Technology’s quarterly revenue was up 19.8% compared to the same quarter last year. Equities analysts anticipate that Spotify Technology S.A. will post 6.22 earnings per share for the current fiscal 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.