Dimensional Fund Advisors LP Decreases Stock Position in Spotify Technology S.A. (NYSE:SPOT)

Dimensional Fund Advisors LP decreased its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 13.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 204,633 shares of the company’s stock after selling 30,784 shares during the period. Dimensional Fund Advisors LP owned approximately 0.10% of Spotify Technology worth $64,219,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in SPOT. Envestnet Asset Management Inc. grew its holdings in Spotify Technology by 17.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 549,859 shares of the company’s stock valued at $172,540,000 after buying an additional 80,374 shares in the last quarter. Thoroughbred Financial Services LLC bought a new stake in Spotify Technology in the second quarter worth $628,000. Dai ichi Life Insurance Company Ltd bought a new stake in Spotify Technology in the second quarter worth $6,917,000. CoreCap Advisors LLC purchased a new stake in Spotify Technology during the second quarter valued at $520,000. Finally, Zions Bancorporation N.A. bought a new position in Spotify Technology during the second quarter valued at $347,000. 84.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SPOT. Benchmark restated a “buy” rating and set a $405.00 target price on shares of Spotify Technology in a research report on Monday, July 22nd. Redburn Atlantic restated a “sell” rating and set a $230.00 price objective on shares of Spotify Technology in a research report on Wednesday, July 10th. KeyCorp lifted their target price on Spotify Technology from $420.00 to $440.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Macquarie boosted their target price on Spotify Technology from $345.00 to $395.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Finally, UBS Group lifted their price objective on shares of Spotify Technology from $375.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $359.14.

Spotify Technology Price Performance

Shares of SPOT opened at $369.20 on Friday. The company has a 50 day moving average of $338.03 and a two-hundred day moving average of $310.22. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.31. Spotify Technology S.A. has a twelve month low of $145.76 and a twelve month high of $389.23. The company has a market cap of $73.49 billion, a price-to-earnings ratio of -551.04 and a beta of 1.57.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $1.33 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 firm had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.82 billion. During the same quarter in the prior year, the business posted ($1.69) EPS. The business’s revenue for the quarter was up 19.8% compared to the same quarter last year. As a group, analysts predict that Spotify Technology S.A. will post 6.26 earnings per share for the current fiscal 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.