Vicus Capital Invests $203,000 in Spotify Technology S.A. (NYSE:SPOT)

Vicus Capital purchased a new stake in Spotify Technology S.A. (NYSE:SPOT) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 551 shares of the company’s stock, valued at approximately $203,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in SPOT. GQG Partners LLC acquired a new stake in Spotify Technology in the first quarter valued at approximately $610,040,000. Bamco Inc. NY increased its holdings in shares of Spotify Technology by 28.3% during the first quarter. Bamco Inc. NY now owns 864,584 shares of the company’s stock valued at $228,164,000 after acquiring an additional 190,931 shares in the last quarter. Swedbank AB raised its holdings in shares of Spotify Technology by 13.2% in the 2nd quarter. Swedbank AB now owns 852,526 shares of the company’s stock worth $267,514,000 after acquiring an additional 99,730 shares during the last quarter. Perpetual Ltd raised its position in Spotify Technology by 24.3% in the 3rd quarter. Perpetual Ltd now owns 759,681 shares of the company’s stock valued at $279,965,000 after buying an additional 148,431 shares during the last quarter. Finally, D1 Capital Partners L.P. boosted its stake in shares of Spotify Technology by 5.6% in the 2nd quarter. D1 Capital Partners L.P. now owns 680,061 shares of the company’s stock worth $213,396,000 after buying an additional 36,000 shares during the last quarter. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Price Performance

Shares of NYSE SPOT opened at $387.63 on Wednesday. Spotify Technology S.A. has a 1-year low of $145.79 and a 1-year high of $389.48. The stock’s 50-day moving average is $354.46 and its two-hundred day moving average is $324.45. 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 cap of $77.16 billion, a price-to-earnings ratio of 158.22 and a beta of 1.58.

Spotify Technology (NYSE:SPOT) last announced its 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 during the quarter, compared to analysts’ expectations of $3.82 billion. During the same period in the prior year, the company earned ($1.69) earnings per share. The business’s revenue was up 19.8% compared to the same quarter last year. Analysts forecast that Spotify Technology S.A. will post 6.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SPOT shares. Evercore ISI lifted their target price on shares of Spotify Technology from $420.00 to $460.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $340.00 price objective on shares of Spotify Technology in a research note on Monday, October 7th. The Goldman Sachs Group upgraded Spotify Technology from a “neutral” rating to a “buy” rating and boosted their price target for the company from $320.00 to $425.00 in a report on Wednesday, July 24th. Morgan Stanley raised their target price on Spotify Technology from $370.00 to $400.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Finally, DZ Bank raised Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 price objective for the company in a research report on Wednesday, July 24th. One research 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 data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $362.21.

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.