Gunderson Capital Management Inc. Makes New $3.05 Million Investment in Spotify Technology S.A. (NYSE:SPOT)

Gunderson Capital Management Inc. purchased a new stake in Spotify Technology S.A. (NYSE:SPOT) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,278 shares of the company’s stock, valued at approximately $3,051,000.

Several other institutional investors have also made changes to their positions in the stock. GQG Partners LLC acquired a new position in shares of Spotify Technology in the 1st quarter worth approximately $610,040,000. Bamco Inc. NY lifted its stake in shares of Spotify Technology by 28.3% in the 1st quarter. Bamco Inc. NY now owns 864,584 shares of the company’s stock valued at $228,164,000 after purchasing an additional 190,931 shares during the period. Swedbank AB lifted its stake in shares of Spotify Technology by 13.2% in the 2nd quarter. Swedbank AB now owns 852,526 shares of the company’s stock valued at $267,514,000 after purchasing an additional 99,730 shares during the period. D1 Capital Partners L.P. grew its stake in Spotify Technology by 5.6% during the second quarter. D1 Capital Partners L.P. now owns 680,061 shares of the company’s stock worth $213,396,000 after purchasing an additional 36,000 shares during the period. Finally, Sei Investments Co. increased its holdings in Spotify Technology by 106.8% in the second quarter. Sei Investments Co. now owns 646,380 shares of the company’s stock worth $202,828,000 after purchasing an additional 333,782 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SPOT has been the subject of several recent analyst reports. Wolfe Research began coverage on shares of Spotify Technology in a research report on Friday, July 12th. They set an “outperform” rating and a $390.00 price objective for the company. Barclays raised their price target on shares of Spotify Technology from $350.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Pivotal Research upped their price objective on shares of Spotify Technology from $460.00 to $510.00 and gave the company a “buy” rating in a report on Thursday, September 19th. The Goldman Sachs Group upgraded Spotify Technology from a “neutral” rating to a “buy” rating and raised their target price for the company from $320.00 to $425.00 in a research note on Wednesday, July 24th. Finally, Macquarie upped their price target on Spotify Technology from $345.00 to $395.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $359.14.

Spotify Technology Trading Up 0.4 %

Spotify Technology stock traded up $1.63 during trading hours on Wednesday, reaching $372.01. The stock had a trading volume of 257,528 shares, compared to its average volume of 1,882,928. The company has a fifty day simple moving average of $346.09 and a 200-day simple moving average of $317.34. 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 S.A. has a 52 week low of $145.76 and a 52 week high of $389.23.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.25. Spotify Technology had a return on equity of 15.23% and a net margin of 3.22%. The company had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter in the previous year, the business earned ($1.69) EPS. Spotify Technology’s revenue was up 19.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Spotify Technology S.A. will post 6.24 earnings per share for the current fiscal year.

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.