Transatlantique Private Wealth LLC Purchases 131 Shares of Spotify Technology S.A. (NYSE:SPOT)

Transatlantique Private Wealth LLC boosted its position in Spotify Technology S.A. (NYSE:SPOT) by 1.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,224 shares of the company’s stock after acquiring an additional 131 shares during the quarter. Spotify Technology accounts for 0.9% of Transatlantique Private Wealth LLC’s holdings, making the stock its 26th largest holding. Transatlantique Private Wealth LLC’s holdings in Spotify Technology were worth $2,267,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. GQG Partners LLC bought a new position in shares of Spotify Technology in the first quarter worth about $610,040,000. Artisan Partners Limited Partnership lifted its stake in Spotify Technology by 24.7% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,400,811 shares of the company’s stock valued at $263,226,000 after purchasing an additional 277,733 shares during the last quarter. Bamco Inc. NY boosted its position in Spotify Technology by 28.3% in the first quarter. Bamco Inc. NY now owns 864,584 shares of the company’s stock valued at $228,164,000 after buying an additional 190,931 shares in the last quarter. Swedbank AB grew its stake in shares of Spotify Technology by 13.2% during the second quarter. Swedbank AB now owns 852,526 shares of the company’s stock worth $267,514,000 after buying an additional 99,730 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Spotify Technology by 106.8% during the second quarter. Sei Investments Co. now owns 646,380 shares of the company’s stock worth $202,828,000 after buying an additional 333,782 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Trading Up 1.3 %

Shares of Spotify Technology stock opened at $365.00 on Friday. 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 1 year low of $145.76 and a 1 year high of $368.29. 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 stock has a fifty day moving average price of $331.49 and a 200-day moving average price of $307.11.

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. The Goldman Sachs Group raised Spotify Technology from a “neutral” rating to a “buy” rating and upped their target price for the stock from $320.00 to $425.00 in a report on Wednesday, July 24th. Wolfe Research initiated coverage on shares of Spotify Technology in a research report on Friday, July 12th. They set an “outperform” rating and a $390.00 target price on the stock. JPMorgan Chase & Co. boosted 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. Benchmark reaffirmed a “buy” rating and set a $405.00 price target on shares of Spotify Technology in a research note on Monday, July 22nd. Finally, TD Cowen boosted their price objective on shares of Spotify Technology from $273.00 to $356.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. One 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’s stock. According to data from MarketBeat.com, Spotify Technology presently 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.