Rheos Capital Works Inc. Has $27.09 Million Stake in Spotify Technology S.A. (NYSE:SPOT)

Rheos Capital Works Inc. lifted its holdings in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 10.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 73,500 shares of the company's stock after buying an additional 7,000 shares during the period. Spotify Technology makes up about 1.4% of Rheos Capital Works Inc.'s investment portfolio, making the stock its 21st largest holding. Rheos Capital Works Inc.'s holdings in Spotify Technology were worth $27,087,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SPOT. GQG Partners LLC acquired a new stake in Spotify Technology in the first quarter worth approximately $610,040,000. Bamco Inc. NY lifted its holdings in shares of Spotify Technology by 28.3% in the first quarter. Bamco Inc. NY now owns 864,584 shares of the company's stock valued at $228,164,000 after buying an additional 190,931 shares during the period. Swedbank AB boosted its stake in Spotify Technology by 13.2% during the second quarter. Swedbank AB now owns 852,526 shares of the company's stock valued at $267,514,000 after buying an additional 99,730 shares in the last quarter. Perpetual Ltd grew its holdings in Spotify Technology by 24.3% during the third quarter. Perpetual Ltd now owns 759,681 shares of the company's stock worth $279,965,000 after acquiring an additional 148,431 shares during the period. Finally, D1 Capital Partners L.P. raised its position in Spotify Technology by 5.6% in the second quarter. D1 Capital Partners L.P. now owns 680,061 shares of the company's stock worth $213,396,000 after acquiring an additional 36,000 shares in the last quarter. 84.09% of the stock is owned by institutional investors.

Spotify Technology Stock Performance

Shares of NYSE SPOT traded down $4.94 during trading hours on Thursday, hitting $366.75. 1,237,442 shares of the stock were exchanged, compared to its average volume of 1,866,616. Spotify Technology S.A. has a one year low of $145.76 and a one year high of $389.23. The company's 50 day moving average is $351.79 and its 200 day moving average is $321.93. 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 firm has a market capitalization of $73.00 billion, a P/E ratio of 149.69 and a beta of 1.58.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $1.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.08 by $0.25. The company had revenue of $3.81 billion during the quarter, compared to analysts' expectations of $3.82 billion. Spotify Technology had a net margin of 3.22% and a return on equity of 15.23%. The business's quarterly revenue was up 19.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.69) earnings per share. On average, research analysts expect that Spotify Technology S.A. will post 6.24 EPS for the current year.

Analysts Set New Price Targets

SPOT has been the topic of several recent research reports. Morgan Stanley lifted their price objective on shares of Spotify Technology from $370.00 to $400.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 24th. The Goldman Sachs Group upgraded shares of Spotify Technology from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $320.00 to $425.00 in a research report on Wednesday, July 24th. Wolfe Research initiated coverage on Spotify Technology in a research report on Friday, July 12th. They set an "outperform" rating and a $390.00 price objective for the company. Rosenblatt Securities raised their price objective on Spotify Technology from $399.00 to $438.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, Macquarie boosted their target price on Spotify Technology from $345.00 to $395.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 23rd. One investment 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. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $362.21.

Spotify Technology 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.