Spotify Technology S.A. (NYSE:SPOT) Position Raised by Marsico Capital Management LLC

Marsico Capital Management LLC raised its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 1.7% during the 2nd quarter, Holdings Channel reports. The fund owned 164,911 shares of the company’s stock after purchasing an additional 2,701 shares during the period. Spotify Technology makes up approximately 1.5% of Marsico Capital Management LLC’s portfolio, making the stock its 21st largest holding. Marsico Capital Management LLC’s holdings in Spotify Technology were worth $51,747,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Clearbridge Investments LLC increased its holdings in shares of Spotify Technology by 0.6% in the 1st quarter. Clearbridge Investments LLC now owns 6,892 shares of the company’s stock valued at $1,819,000 after purchasing an additional 38 shares during the period. Cigna Investments Inc. New raised its holdings in Spotify Technology by 3.3% in the 2nd quarter. Cigna Investments Inc. New now owns 1,260 shares of the company’s stock valued at $395,000 after acquiring an additional 40 shares in the last quarter. Moody Lynn & Lieberson LLC lifted its stake in 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 purchasing an additional 40 shares during the period. Larson Financial Group LLC lifted its holdings in Spotify Technology by 86.0% during the 1st quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock valued at $25,000 after purchasing an additional 43 shares during the last quarter. Finally, Brookstone Capital Management raised its position in Spotify Technology by 4.6% in the 2nd quarter. Brookstone Capital Management now owns 1,339 shares of the company’s stock valued at $395,000 after purchasing an additional 59 shares during the last quarter. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Up 1.0 %

Shares of NYSE:SPOT opened at $342.10 on Wednesday. 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 firm has a market cap of $65.07 billion, a price-to-earnings ratio of -510.60 and a beta of 1.57. Spotify Technology S.A. has a 12-month low of $145.76 and a 12-month high of $359.38. The stock’s 50-day moving average price is $328.27 and its two-hundred day moving average price is $305.81.

Spotify Technology (NYSE:SPOT) last announced its earnings results on Tuesday, July 23rd. The company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.25. Spotify Technology had a return on equity of 15.23% and a net margin of 3.22%. The company had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.82 billion. During the same period last year, the firm earned ($1.69) earnings per share. The company’s revenue was up 19.8% on a year-over-year basis. On average, research analysts forecast that Spotify Technology S.A. will post 6.31 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have commented on SPOT shares. DZ Bank upgraded Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 price objective on the stock in a research report 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 objective for the company from $320.00 to $425.00 in a report on Wednesday, July 24th. Guggenheim boosted their price objective on shares of Spotify Technology from $400.00 to $420.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. UBS Group upped their target price on Spotify Technology from $375.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Finally, Evercore ISI increased their target price on Spotify Technology from $420.00 to $460.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $357.41.

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.