Spotify Technology S.A. (NYSE:SPOT) Holdings Decreased by Marshall Wace LLP

Marshall Wace LLP decreased its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 14.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,504,554 shares of the company’s stock after selling 260,193 shares during the quarter. Spotify Technology accounts for approximately 0.6% of Marshall Wace LLP’s holdings, making the stock its 16th biggest position. Marshall Wace LLP owned approximately 0.76% of Spotify Technology worth $472,114,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. GQG Partners LLC acquired a new stake in Spotify Technology during the first quarter valued at $610,040,000. Swedbank AB acquired a new stake in Spotify Technology during the first quarter valued at $198,663,000. 1832 Asset Management L.P. acquired a new stake in Spotify Technology during the fourth quarter valued at $83,094,000. Sei Investments Co. boosted its position in 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 purchasing an additional 333,782 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in Spotify Technology by 327.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 391,253 shares of the company’s stock valued at $73,520,000 after purchasing an additional 299,700 shares during the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Wall Street Analyst Weigh In

SPOT has been the subject of a number of analyst reports. Guggenheim boosted their price target on Spotify Technology from $400.00 to $420.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Pivotal Research boosted their price target on Spotify Technology from $460.00 to $510.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Macquarie boosted their price target on Spotify Technology from $345.00 to $395.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Wolfe Research initiated coverage on Spotify Technology in a research report on Friday, July 12th. They issued an “outperform” rating and a $390.00 price target for the company. Finally, DZ Bank raised 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. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $359.14.

Spotify Technology Stock Performance

Shares of Spotify Technology stock opened at $369.03 on Tuesday. The stock’s fifty day simple moving average is $332.83 and its 200 day simple moving average is $308.36. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $70.19 billion, a PE ratio of -550.79 and a beta of 1.57. Spotify Technology S.A. has a 12 month low of $145.76 and a 12 month high of $371.11.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings data 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 return on equity of 15.23% and a net margin of 3.22%. The business had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.82 billion. During the same period in the previous year, the firm earned ($1.69) EPS. Spotify Technology’s quarterly revenue was up 19.8% compared to the same quarter last year. On average, research analysts predict that Spotify Technology S.A. will post 6.31 EPS for the current year.

About Spotify Technology

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.