Spotify Technology S.A. (NYSE:SPOT) Shares Bought by LMR Partners LLP

LMR Partners LLP raised its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 462.1% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 48,089 shares of the company’s stock after buying an additional 39,533 shares during the period. LMR Partners LLP’s holdings in Spotify Technology were worth $17,722,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Transcendent Capital Group LLC acquired a new stake in Spotify Technology in the 2nd quarter valued at $25,000. Benjamin Edwards Inc. boosted its position in shares of Spotify Technology by 214.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock valued at $27,000 after acquiring an additional 58 shares during the last quarter. Mather Group LLC. grew its holdings in shares of Spotify Technology by 9,900.0% in the second quarter. Mather Group LLC. now owns 100 shares of the company’s stock valued at $31,000 after purchasing an additional 99 shares during the period. Asset Dedication LLC acquired a new stake in Spotify Technology during the second quarter worth about $35,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Spotify Technology during the second quarter worth about $39,000. Institutional investors and hedge funds own 84.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Rosenblatt Securities raised their price target on shares of Spotify Technology from $399.00 to $438.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. 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 note on Wednesday, November 13th. Phillip Securities restated an “accumulate” rating and issued a $485.00 target price (up previously from $420.00) on shares of Spotify Technology in a research report on Wednesday, November 13th. Cantor Fitzgerald reissued a “neutral” rating and set a $340.00 price objective on shares of Spotify Technology in a research report on Monday, October 7th. Finally, Pivotal Research upped their target price on shares of Spotify Technology from $510.00 to $565.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $421.69.

Spotify Technology Stock Performance

Shares of SPOT stock opened at $458.32 on Monday. Spotify Technology S.A. has a 1 year low of $170.62 and a 1 year high of $489.69. The stock has a fifty day moving average price of $378.15 and a 200 day moving average price of $338.61. The stock has a market cap of $91.23 billion, a PE ratio of 124.54 and a beta of 1.56.

Spotify Technology (NYSE:SPOT) last posted its earnings results on Tuesday, November 12th. The company reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($0.30). Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The business had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $4.03 billion. During the same quarter last year, the business posted $0.36 earnings per share. The business’s revenue was up 18.8% compared to the same quarter last year. As a group, equities research analysts predict that Spotify Technology S.A. will post 6.09 earnings per share for the current year.

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.