Rockingstone Advisors LLC Acquires 290 Shares of Spotify Technology S.A. (NYSE:SPOT)

Rockingstone Advisors LLC boosted its stake in Spotify Technology S.A. (NYSE:SPOT) by 3.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,933 shares of the company’s stock after acquiring an additional 290 shares during the period. Spotify Technology accounts for 1.6% of Rockingstone Advisors LLC’s investment portfolio, making the stock its 20th largest holding. Rockingstone Advisors LLC’s holdings in Spotify Technology were worth $3,292,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in SPOT. Larson Financial Group LLC raised its stake in Spotify Technology by 86.0% during the first quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock worth $25,000 after buying an additional 43 shares during the last quarter. Transcendent Capital Group LLC bought a new stake in Spotify Technology during the 2nd quarter valued at $25,000. Benjamin Edwards Inc. raised its holdings in Spotify Technology by 214.8% during the second quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock worth $27,000 after buying an additional 58 shares during the last quarter. Mather Group LLC. lifted its stake in shares of Spotify Technology by 9,900.0% in the second quarter. Mather Group LLC. now owns 100 shares of the company’s stock valued at $31,000 after buying an additional 99 shares in the last quarter. Finally, FinTrust Capital Advisors LLC grew its holdings in shares of Spotify Technology by 400.0% during the first quarter. FinTrust Capital Advisors LLC now owns 125 shares of the company’s stock valued at $33,000 after buying an additional 100 shares during the last quarter. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Performance

SPOT stock opened at $370.43 on Wednesday. The stock has a market capitalization of $70.46 billion, a PE ratio of -552.88 and a beta of 1.58. The stock’s 50 day simple moving average is $345.28 and its 200 day simple moving average is $316.59. Spotify Technology S.A. has a 12-month low of $145.76 and a 12-month high of $389.23. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.31.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.08 by $0.25. The company had revenue of $3.81 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 19.8% on a year-over-year basis. During the same period last year, the company earned ($1.69) EPS. As a group, research analysts forecast that Spotify Technology S.A. will post 6.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Bank of America raised their price target on shares of Spotify Technology from $370.00 to $380.00 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. 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 objective on the stock. Jefferies Financial Group reiterated a “buy” rating and set a $385.00 target price (up from $242.00) on shares of Spotify Technology in a research note on Thursday, July 11th. KeyCorp increased their target price on shares of Spotify Technology from $420.00 to $440.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Finally, Guggenheim boosted their price objective on Spotify Technology from $400.00 to $420.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $359.14.

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.