Spotify Technology S.A. (NYSE:SPOT) Shares Acquired by Sei Investments Co.

Sei Investments Co. increased its position in Spotify Technology S.A. (NYSE:SPOT) by 106.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 646,380 shares of the company’s stock after purchasing an additional 333,782 shares during the quarter. Sei Investments Co. owned 0.32% of Spotify Technology worth $202,828,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Evoke Wealth LLC acquired a new position in shares of Spotify Technology in the 4th quarter valued at approximately $2,271,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Spotify Technology by 30.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 79,667 shares of the company’s stock worth $21,024,000 after acquiring an additional 18,731 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Spotify Technology by 1,500.5% in the 4th quarter. Franklin Resources Inc. now owns 70,151 shares of the company’s stock valued at $13,182,000 after purchasing an additional 65,768 shares in the last quarter. TD Asset Management Inc lifted its position in shares of Spotify Technology by 2.4% during the first quarter. TD Asset Management Inc now owns 512,841 shares of the company’s stock worth $135,339,000 after purchasing an additional 12,192 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of Spotify Technology by 327.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 391,253 shares of the company’s stock worth $73,520,000 after purchasing an additional 299,700 shares during the last quarter. 84.09% of the stock is owned by institutional investors and hedge funds.

Spotify Technology Stock Up 1.3 %

SPOT stock opened at $365.00 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.56 and a quick ratio of 1.56. The firm has a market cap of $72.65 billion, a PE ratio of -544.77 and a beta of 1.57. Spotify Technology S.A. has a 12 month low of $145.76 and a 12 month high of $368.29. The firm has a 50 day simple moving average of $331.49 and a 200 day simple moving average of $307.11.

Spotify Technology (NYSE:SPOT) last issued its 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. The business had revenue of $3.81 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.69) EPS. Equities research analysts forecast that Spotify Technology S.A. will post 6.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SPOT shares. TD Cowen upped their price objective on Spotify Technology from $273.00 to $356.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Guggenheim raised their price objective on Spotify Technology from $400.00 to $420.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. DZ Bank raised shares of Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 price objective for the company in a report on Wednesday, July 24th. JPMorgan Chase & Co. increased their target price on shares of Spotify Technology from $375.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Finally, Bank of America lifted their price target on shares of Spotify Technology from $370.00 to $380.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat.com, Spotify Technology currently has a consensus rating of “Moderate Buy” and an average target price of $359.14.

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.