Daiwa Securities Group Inc. Buys 574 Shares of Spotify Technology S.A. (NYSE:SPOT)

Daiwa Securities Group Inc. boosted its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 80.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,290 shares of the company’s stock after buying an additional 574 shares during the period. Daiwa Securities Group Inc.’s holdings in Spotify Technology were worth $405,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Private Advisor Group LLC boosted its position in Spotify Technology by 5.7% during the fourth quarter. Private Advisor Group LLC now owns 1,397 shares of the company’s stock worth $263,000 after purchasing an additional 75 shares during the period. Principal Securities Inc. bought a new stake in Spotify Technology during the fourth quarter valued at approximately $71,000. Dimensional Fund Advisors LP lifted its position in Spotify Technology by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 261,508 shares of the company’s stock valued at $49,142,000 after purchasing an additional 4,352 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in Spotify Technology by 43.0% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,672 shares of the company’s stock valued at $690,000 after purchasing an additional 1,104 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in Spotify Technology by 212.6% during the fourth quarter. Principal Financial Group Inc. now owns 54,157 shares of the company’s stock valued at $10,177,000 after purchasing an additional 36,835 shares during the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Trading Up 0.2 %

SPOT opened at $338.56 on Tuesday. Spotify Technology S.A. has a one year low of $145.76 and a one year high of $359.38. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.56 and a current ratio of 1.56. The stock has a market capitalization of $67.39 billion, a PE ratio of -505.31 and a beta of 1.57. The business’s 50 day moving average price is $327.66 and its 200 day moving average price is $305.26.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.25. The firm had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.82 billion. Spotify Technology had a return on equity of 15.23% and a net margin of 3.22%. The company’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.69) EPS. As a group, equities research analysts expect that Spotify Technology S.A. will post 6.31 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on SPOT shares. Macquarie lifted their target price on shares of Spotify Technology from $345.00 to $395.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. DZ Bank raised shares of Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 target price for the company in a report on Wednesday, July 24th. TD Cowen raised their price objective on Spotify Technology from $273.00 to $356.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Cantor Fitzgerald initiated coverage on Spotify Technology in a research note on Thursday, September 5th. They set a “neutral” rating and a $340.00 price target for the company. Finally, Barclays lifted their price objective on Spotify Technology from $350.00 to $360.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $357.41.

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.