Evolutionary Tree Capital Management LLC Has $207,000 Position in Spotify Technology S.A. (NYSE:SPOT)

Evolutionary Tree Capital Management LLC decreased its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 51.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 659 shares of the company’s stock after selling 704 shares during the quarter. Evolutionary Tree Capital Management LLC’s holdings in Spotify Technology were worth $207,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Transcendent Capital Group LLC acquired a new position in shares of Spotify Technology during the second quarter valued at $25,000. Benjamin Edwards Inc. lifted its position in Spotify Technology by 214.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock valued at $27,000 after purchasing an additional 58 shares during the period. Larson Financial Group LLC lifted its position in Spotify Technology by 86.0% during the 1st quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock valued at $25,000 after purchasing an additional 43 shares during the period. Mather Group LLC. boosted its stake in shares of Spotify Technology by 9,900.0% in the 2nd quarter. Mather Group LLC. now owns 100 shares of the company’s stock valued at $31,000 after purchasing an additional 99 shares during the last quarter. Finally, Asset Dedication LLC acquired a new stake in shares of Spotify Technology during the 2nd quarter worth approximately $35,000. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Price Performance

NYSE SPOT opened at $365.17 on Friday. The firm’s 50 day moving average is $331.49 and its 200-day moving average is $307.39. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $72.69 billion, a PE ratio of -545.02 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.

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, beating the consensus estimate of $1.08 by $0.25. Spotify Technology had a net margin of 3.22% and a return on equity of 15.23%. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.82 billion. During the same period in the previous year, the business earned ($1.69) EPS. The company’s revenue was up 19.8% compared to the same quarter last year. Equities research analysts anticipate that Spotify Technology S.A. will post 6.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. KeyCorp increased their price objective on shares of Spotify Technology from $420.00 to $440.00 and gave the company an “overweight” rating in a report on Monday, September 16th. JPMorgan Chase & Co. raised their price target on Spotify Technology from $375.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Benchmark reiterated a “buy” rating and issued a $405.00 price objective on shares of Spotify Technology in a report on Monday, July 22nd. 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. Finally, UBS Group boosted their target price on Spotify Technology from $375.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $359.14.

Spotify Technology 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.