Thames Capital Management LLC Increases Stake in Spotify Technology S.A. (NYSE:SPOT)

Thames Capital Management LLC grew its stake in Spotify Technology S.A. (NYSE:SPOT) by 4.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,493 shares of the company’s stock after buying an additional 1,507 shares during the quarter. Spotify Technology accounts for about 4.9% of Thames Capital Management LLC’s investment portfolio, making the stock its 10th biggest holding. Thames Capital Management LLC’s holdings in Spotify Technology were worth $12,393,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently made changes to their positions in the company. Sei Investments Co. boosted 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 worth $202,828,000 after buying an additional 333,782 shares during the period. AE Wealth Management LLC boosted its position in Spotify Technology by 57.6% during the 2nd quarter. AE Wealth Management LLC now owns 1,240 shares of the company’s stock worth $389,000 after acquiring an additional 453 shares during the last quarter. DCF Advisers LLC grew its stake in shares of Spotify Technology by 82.5% during the 2nd quarter. DCF Advisers LLC now owns 3,650 shares of the company’s stock worth $1,145,000 after acquiring an additional 1,650 shares in the last quarter. ASB Consultores LLC raised its holdings in shares of Spotify Technology by 12.2% in the second quarter. ASB Consultores LLC now owns 1,375 shares of the company’s stock valued at $431,000 after purchasing an additional 150 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in shares of Spotify Technology by 27.3% in the second quarter. Canada Pension Plan Investment Board now owns 149,174 shares of the company’s stock worth $46,809,000 after purchasing an additional 32,000 shares in the last quarter. Institutional investors own 84.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SPOT. Jefferies Financial Group reaffirmed a “buy” rating and issued a $385.00 target price (up previously from $242.00) on shares of Spotify Technology in a research report on Thursday, July 11th. Benchmark reiterated a “buy” rating and set a $405.00 target price on shares of Spotify Technology in a report on Monday, July 22nd. Cantor Fitzgerald assumed coverage on Spotify Technology in a research note on Thursday, September 5th. They issued a “neutral” rating and a $340.00 price target for the company. 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. Finally, UBS Group increased their price objective on Spotify Technology from $375.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $359.14.

Spotify Technology Stock Up 1.3 %

SPOT opened at $365.00 on Friday. The stock has a fifty day moving average of $331.49 and a 200-day moving average of $307.11. The company has a market capitalization of $72.65 billion, a P/E ratio of -544.77 and a beta of 1.57. Spotify Technology S.A. has a fifty-two week low of $145.76 and a fifty-two week high of $368.29. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.56 and a current ratio of 1.56.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $1.33 earnings per share for the quarter, topping 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 business had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.82 billion. During the same quarter in the previous year, the company earned ($1.69) EPS. The business’s revenue was up 19.8% on a year-over-year basis. On average, equities analysts expect that Spotify Technology S.A. will post 6.31 EPS for the current year.

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.