Spotify Technology S.A. (NYSE:SPOT) Shares Acquired by Rheos Capital Works Inc.

Rheos Capital Works Inc. lifted its holdings in Spotify Technology S.A. (NYSE:SPOT) by 10.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,500 shares of the company’s stock after purchasing an additional 7,000 shares during the quarter. Spotify Technology comprises about 1.4% of Rheos Capital Works Inc.’s portfolio, making the stock its 21st biggest position. Rheos Capital Works Inc.’s holdings in Spotify Technology were worth $27,087,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC raised its stake in Spotify Technology by 86.0% in the 1st quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock worth $25,000 after acquiring an additional 43 shares during the last quarter. Transcendent Capital Group LLC acquired a new position in Spotify Technology in the 2nd quarter worth approximately $25,000. Benjamin Edwards Inc. increased its stake in shares of 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 acquiring an additional 58 shares during the period. Mather Group LLC. increased its stake 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 worth $31,000 after acquiring an additional 99 shares during the period. Finally, FinTrust Capital Advisors LLC raised its holdings in shares of Spotify Technology by 400.0% during the first quarter. FinTrust Capital Advisors LLC now owns 125 shares of the company’s stock worth $33,000 after purchasing an additional 100 shares during the last quarter. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on SPOT shares. Bank of America increased their price target on Spotify Technology from $370.00 to $380.00 and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. Evercore ISI raised 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. Barclays boosted their price target on Spotify Technology from $350.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. UBS Group raised their price objective on shares of Spotify Technology from $375.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Finally, Pivotal Research lifted their target price on shares of Spotify Technology from $460.00 to $510.00 and gave the company a “buy” rating in a report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat.com, Spotify Technology currently has an average rating of “Moderate Buy” and a consensus target price of $360.86.

Spotify Technology Trading Down 0.2 %

SPOT opened at $371.67 on Thursday. The business has a fifty day moving average price of $351.22 and a 200 day moving average price of $321.62. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.56 and a quick ratio of 1.56. Spotify Technology S.A. has a 12 month low of $145.76 and a 12 month high of $389.23. The stock has a market capitalization of $70.69 billion, a price-to-earnings ratio of -554.73 and a beta of 1.58.

Spotify Technology (NYSE:SPOT) last released its earnings results on Tuesday, July 23rd. The company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.25. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.82 billion. Spotify Technology had a net margin of 3.22% and a return on equity of 15.23%. During the same period in the prior year, the firm earned ($1.69) earnings per share. The business’s quarterly revenue was up 19.8% compared to the same quarter last year. Sell-side analysts expect that Spotify Technology S.A. will post 6.24 earnings per share for the current fiscal year.

About Spotify Technology

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.