DCF Advisers LLC Raises Position in Spotify Technology S.A. (NYSE:SPOT)

DCF Advisers LLC raised its position in Spotify Technology S.A. (NYSE:SPOT) by 82.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,650 shares of the company’s stock after buying an additional 1,650 shares during the period. DCF Advisers LLC’s holdings in Spotify Technology were worth $1,145,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. GQG Partners LLC acquired a new position in Spotify Technology in the 1st quarter valued at $610,040,000. Swedbank AB purchased a new stake in shares of Spotify Technology during the first quarter worth $198,663,000. Norges Bank acquired a new stake in shares of Spotify Technology in the fourth quarter valued at about $92,429,000. 1832 Asset Management L.P. purchased a new position in shares of Spotify Technology in the fourth quarter worth about $83,094,000. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Spotify Technology by 327.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 391,253 shares of the company’s stock worth $73,520,000 after buying an additional 299,700 shares in the last quarter. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SPOT has been the subject of several research reports. KeyCorp upped their price objective on shares of Spotify Technology from $420.00 to $440.00 and gave the company an “overweight” rating in a research note on Monday. Cantor Fitzgerald began coverage on Spotify Technology in a report on Thursday, September 5th. They issued a “neutral” rating and a $340.00 price target for the company. UBS Group lifted their price objective on Spotify Technology from $375.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. TD Cowen raised their target price on Spotify Technology from $273.00 to $356.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Finally, Bank of America lifted their price target on Spotify Technology from $370.00 to $380.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $359.14.

Spotify Technology Price Performance

SPOT opened at $360.01 on Friday. The stock’s 50-day moving average price is $330.23 and its 200 day moving average price is $306.45. Spotify Technology S.A. has a 12-month low of $145.76 and a 12-month high of $368.29. The firm has a market cap of $71.66 billion, a price-to-earnings ratio of -537.32 and a beta of 1.57. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.31.

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