LMR Partners LLP raised its stake in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 462.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 48,089 shares of the company's stock after purchasing an additional 39,533 shares during the quarter. LMR Partners LLP's holdings in Spotify Technology were worth $17,722,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in the stock. Aigen Investment Management LP increased its stake in Spotify Technology by 42.4% during the third quarter. Aigen Investment Management LP now owns 9,800 shares of the company's stock valued at $3,612,000 after acquiring an additional 2,918 shares during the period. Pathway Capital Management LP grew its holdings in shares of Spotify Technology by 23.8% during the 3rd quarter. Pathway Capital Management LP now owns 57,340 shares of the company's stock worth $21,132,000 after purchasing an additional 11,042 shares in the last quarter. Perpetual Ltd increased its position in shares of Spotify Technology by 24.3% during the third quarter. Perpetual Ltd now owns 759,681 shares of the company's stock valued at $279,965,000 after purchasing an additional 148,431 shares during the period. Jag Capital Management LLC acquired a new position in shares of Spotify Technology in the third quarter valued at $13,569,000. Finally, Northeast Investment Management lifted its position in Spotify Technology by 67.6% in the third quarter. Northeast Investment Management now owns 12,991 shares of the company's stock worth $4,788,000 after purchasing an additional 5,240 shares during the period. Institutional investors and hedge funds own 84.09% of the company's stock.
Spotify Technology Price Performance
Shares of NYSE SPOT traded down $2.58 during mid-day trading on Monday, hitting $455.74. The company's stock had a trading volume of 1,775,660 shares, compared to its average volume of 1,935,338. The stock has a market cap of $90.72 billion, a price-to-earnings ratio of 124.73 and a beta of 1.56. The company's fifty day simple moving average is $378.15 and its 200-day simple moving average is $338.61. Spotify Technology S.A. has a one year low of $175.00 and a one year high of $489.69.
Spotify Technology (NYSE:SPOT - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported $1.45 EPS for the quarter, missing analysts' consensus estimates of $1.75 by ($0.30). The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.03 billion. Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. Spotify Technology's revenue was up 18.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.36 EPS. On average, sell-side analysts predict that Spotify Technology S.A. will post 6.09 EPS for the current year.
Analysts Set New Price Targets
SPOT has been the topic of several analyst reports. Bank of America increased their price objective on shares of Spotify Technology from $430.00 to $515.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. The Goldman Sachs Group increased their price target on shares of Spotify Technology from $430.00 to $490.00 and gave the stock a "buy" rating in a research report on Thursday. Barclays lifted their price objective on Spotify Technology from $385.00 to $475.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th. Canaccord Genuity Group upped their price objective on Spotify Technology from $475.00 to $525.00 and gave the company a "buy" rating in a research note on Thursday. Finally, JPMorgan Chase & Co. raised their target price on Spotify Technology from $425.00 to $530.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 13th. 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's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $421.69.
Get Our Latest Stock Analysis on SPOT
About Spotify Technology
(
Free Report)
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.
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