D1 Capital Partners L.P. Boosts Stock Position in Spotify Technology S.A. (NYSE:SPOT)

D1 Capital Partners L.P. boosted its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 5.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 680,061 shares of the company’s stock after purchasing an additional 36,000 shares during the quarter. Spotify Technology comprises approximately 3.6% of D1 Capital Partners L.P.’s holdings, making the stock its 10th largest position. D1 Capital Partners L.P. owned about 0.34% of Spotify Technology worth $213,396,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. GQG Partners LLC bought a new stake in shares of Spotify Technology in the first quarter valued at approximately $610,040,000. Artisan Partners Limited Partnership grew its position 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 worth $263,226,000 after purchasing an additional 277,733 shares during the last quarter. Bamco Inc. NY grew its position in Spotify Technology by 28.3% in the 1st quarter. Bamco Inc. NY now owns 864,584 shares of the company’s stock worth $228,164,000 after purchasing an additional 190,931 shares during the last quarter. Swedbank AB increased its holdings in shares of Spotify Technology by 13.2% during the 2nd quarter. Swedbank AB now owns 852,526 shares of the company’s stock worth $267,514,000 after purchasing an additional 99,730 shares during the period. Finally, Sei Investments Co. raised its position 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 valued at $202,828,000 after buying an additional 333,782 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Trading Up 1.4 %

Shares of Spotify Technology stock opened at $365.17 on Monday. Spotify Technology S.A. has a 1 year low of $145.76 and a 1 year high of $368.29. The company has a market capitalization of $69.46 billion, a price-to-earnings ratio of -545.03 and a beta of 1.57. The business has a fifty day simple moving average of $331.49 and a two-hundred day simple moving average of $307.67. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.56 and a quick ratio of 1.56.

Spotify Technology (NYSE:SPOT) last posted 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 company had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.82 billion. Spotify Technology had a net margin of 3.22% and a return on equity of 15.23%. Spotify Technology’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same quarter last year, the company posted ($1.69) EPS. Research analysts forecast that Spotify Technology S.A. will post 6.31 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on SPOT shares. Evercore ISI lifted their price target on shares of Spotify Technology from $420.00 to $460.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. DZ Bank raised shares of Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 price target for the company in a research report on Wednesday, July 24th. Cantor Fitzgerald started coverage on Spotify Technology in a report on Thursday, September 5th. They set a “neutral” rating and a $340.00 price objective on the stock. TD Cowen increased their target price on Spotify Technology from $273.00 to $356.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Finally, Wolfe Research started coverage on Spotify Technology in a research note on Friday, July 12th. They issued an “outperform” rating and a $390.00 price target on the stock. One research 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.