Spotify Technology S.A. (NYSE:SPOT) Shares Acquired by Vontobel Holding Ltd.

Vontobel Holding Ltd. lifted its position in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 48.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,165 shares of the company's stock after purchasing an additional 5,579 shares during the period. Vontobel Holding Ltd.'s holdings in Spotify Technology were worth $6,326,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Clearbridge Investments LLC grew its position in Spotify Technology by 0.6% during the 1st quarter. Clearbridge Investments LLC now owns 6,892 shares of the company's stock worth $1,819,000 after purchasing an additional 38 shares during the last quarter. Cigna Investments Inc. New boosted its stake in shares of Spotify Technology by 3.3% during the second quarter. Cigna Investments Inc. New now owns 1,260 shares of the company's stock worth $395,000 after buying an additional 40 shares during the period. Moody Lynn & Lieberson LLC grew its holdings in shares of Spotify Technology by 0.6% during the second quarter. Moody Lynn & Lieberson LLC now owns 6,843 shares of the company's stock worth $2,147,000 after buying an additional 40 shares during the last quarter. Larson Financial Group LLC increased its position in Spotify Technology by 86.0% in the 1st quarter. Larson Financial Group LLC now owns 93 shares of the company's stock valued at $25,000 after acquiring an additional 43 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in Spotify Technology by 4.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 981 shares of the company's stock valued at $337,000 after acquiring an additional 43 shares during the last quarter. 84.09% of the stock is owned by hedge funds and other institutional investors.

Spotify Technology Price Performance

SPOT stock traded up $12.06 on Friday, reaching $378.81. The company had a trading volume of 1,680,406 shares, compared to its average volume of 1,865,699. The company's fifty day moving average is $352.57 and its 200 day moving average is $322.71. The company has a market cap of $75.40 billion, a P/E ratio of 154.62 and a beta of 1.58. 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 S.A. has a 1 year low of $145.76 and a 1 year high of $389.23.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $3.81 billion for 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 revenue was up 19.8% on a year-over-year basis. During the same period in the prior year, the business earned ($1.69) earnings per share. On average, research analysts forecast that Spotify Technology S.A. will post 6.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SPOT shares. Guggenheim lifted their target price on Spotify Technology from $400.00 to $420.00 and gave the company a "buy" rating in a research note on Wednesday, July 24th. Evercore ISI lifted their price objective on shares of Spotify Technology from $420.00 to $460.00 and gave the company an "outperform" rating in a research report on Thursday, August 29th. KeyCorp upped their price objective on shares of Spotify Technology from $440.00 to $490.00 and gave the stock an "overweight" rating in a research report on Wednesday. UBS Group lifted their target price on shares of Spotify Technology from $375.00 to $400.00 and gave the company a "buy" rating in a report on Thursday, July 11th. Finally, Rosenblatt Securities boosted their price target on shares of Spotify Technology from $399.00 to $438.00 and gave the stock 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 assigned a buy rating to the company's stock. According to data from MarketBeat, Spotify Technology currently has a consensus rating of "Moderate Buy" and a consensus price target 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.