Lecap Asset Management Ltd. Sells 366 Shares of Spotify Technology S.A. (NYSE:SPOT)

Lecap Asset Management Ltd. lessened its holdings in Spotify Technology S.A. (NYSE:SPOT) by 14.1% during the third quarter, Holdings Channel reports. The fund owned 2,224 shares of the company’s stock after selling 366 shares during the period. Lecap Asset Management Ltd.’s holdings in Spotify Technology were worth $820,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. GQG Partners LLC bought a new stake in Spotify Technology in the 1st quarter valued at $610,040,000. Bamco Inc. NY raised its stake in Spotify Technology by 28.3% in the 1st 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 during the period. Swedbank AB raised its stake in Spotify Technology by 13.2% in the 2nd quarter. Swedbank AB now owns 852,526 shares of the company’s stock valued at $267,514,000 after acquiring an additional 99,730 shares during the period. Perpetual Ltd raised its stake 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 acquiring an additional 148,431 shares during the period. Finally, D1 Capital Partners L.P. raised its stake in Spotify Technology by 5.6% in the 2nd quarter. D1 Capital Partners L.P. now owns 680,061 shares of the company’s stock valued at $213,396,000 after acquiring an additional 36,000 shares during the period. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Price Performance

Spotify Technology stock opened at $379.89 on Thursday. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $75.62 billion, a PE ratio of 155.06 and a beta of 1.58. Spotify Technology S.A. has a 12 month low of $155.00 and a 12 month high of $389.48. The stock has a 50-day moving average price of $355.37 and a two-hundred day moving average price of $324.84.

Spotify Technology (NYSE:SPOT) last posted its earnings results on Tuesday, July 23rd. The company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.08 by $0.25. The firm had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.82 billion. Spotify Technology had a return on equity of 15.23% and a net margin of 3.22%. The business’s quarterly revenue was up 19.8% on a year-over-year basis. During the same period last year, the company earned ($1.69) earnings per share. Analysts expect that Spotify Technology S.A. will post 6.22 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on SPOT. Wolfe Research started coverage on Spotify Technology in a research note on Friday, July 12th. They issued an “outperform” rating and a $390.00 price target on the stock. TD Cowen upped their price objective on Spotify Technology from $273.00 to $356.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Barclays upped their price objective on Spotify Technology from $350.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Morgan Stanley upped their price objective on Spotify Technology from $400.00 to $430.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, DZ Bank raised Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 price objective on the stock in a 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $363.24.

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.