Janus Henderson Group PLC Buys 257,706 Shares of Spotify Technology S.A. (NYSE:SPOT)

Janus Henderson Group PLC increased its stake in Spotify Technology S.A. (NYSE:SPOT) by 3,948.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 264,233 shares of the company’s stock after buying an additional 257,706 shares during the period. Janus Henderson Group PLC owned 0.13% of Spotify Technology worth $97,329,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Transcendent Capital Group LLC purchased a new stake in Spotify Technology in the second quarter worth about $25,000. Benjamin Edwards Inc. grew its holdings in Spotify Technology by 214.8% in the second quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock worth $27,000 after purchasing an additional 58 shares during the period. Mather Group LLC. grew its holdings in Spotify Technology by 9,900.0% in the second quarter. Mather Group LLC. now owns 100 shares of the company’s stock worth $31,000 after purchasing an additional 99 shares during the period. Asset Dedication LLC purchased a new stake in Spotify Technology in the second quarter worth about $35,000. Finally, Larson Financial Group LLC grew its holdings in Spotify Technology by 51.6% in the third quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock worth $36,000 after purchasing an additional 33 shares during the period. 84.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SPOT. Macquarie upped their price objective on shares of Spotify Technology from $395.00 to $500.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Benchmark upped their price objective on shares of Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Barclays increased their price target on shares of Spotify Technology from $385.00 to $475.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Rosenblatt Securities increased their price target on shares of Spotify Technology from $399.00 to $438.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Finally, Bank of America increased their price target on shares of Spotify Technology from $430.00 to $515.00 and gave the company a “buy” rating in a 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 assigned a buy rating to the stock. According to data from MarketBeat, Spotify Technology has an average rating of “Moderate Buy” and a consensus target price of $422.90.

Spotify Technology Price Performance

Shares of SPOT stock opened at $502.42 on Thursday. The company has a market capitalization of $100.01 billion, a price-to-earnings ratio of 136.53 and a beta of 1.61. The company’s fifty day moving average price is $411.15 and its 200-day moving average price is $354.65. Spotify Technology S.A. has a one year low of $185.37 and a one year high of $506.47.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.30). The business had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.03 billion. Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. Spotify Technology’s revenue was up 18.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.36 earnings per share. Equities research analysts expect that Spotify Technology S.A. will post 6.02 earnings per share for the current fiscal 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.