Artisan Partners Limited Partnership acquired a new position in shares of Spotify Technology S.A. (NYSE:SPOT – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 381,123 shares of the company’s stock, valued at approximately $61,189,000. Artisan Partners Limited Partnership owned about 0.20% of Spotify Technology as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of SPOT. Signaturefd LLC lifted its holdings in Spotify Technology by 9.8% during the 2nd quarter. Signaturefd LLC now owns 948 shares of the company’s stock worth $152,000 after buying an additional 85 shares during the period. Pacer Advisors Inc. lifted its holdings in Spotify Technology by 7.9% during the 2nd quarter. Pacer Advisors Inc. now owns 1,172 shares of the company’s stock worth $188,000 after buying an additional 86 shares during the period. Mount Vernon Associates Inc. MD lifted its holdings in Spotify Technology by 1.4% during the 2nd quarter. Mount Vernon Associates Inc. MD now owns 7,120 shares of the company’s stock worth $1,143,000 after buying an additional 100 shares during the period. First Manhattan Co. lifted its holdings in Spotify Technology by 65.8% during the 1st quarter. First Manhattan Co. now owns 252 shares of the company’s stock worth $38,000 after buying an additional 100 shares during the period. Finally, Activest Wealth Management acquired a new position in Spotify Technology during the 2nd quarter worth about $28,000. Institutional investors own 56.89% of the company’s stock.
Analyst Upgrades and Downgrades
SPOT has been the topic of a number of recent analyst reports. Truist Financial boosted their price objective on Spotify Technology from $176.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, October 25th. Pivotal Research dropped their price objective on Spotify Technology from $145.00 to $140.00 in a research note on Wednesday, July 26th. Barclays boosted their price objective on Spotify Technology from $182.00 to $186.00 and gave the company an “overweight” rating in a research note on Wednesday, October 25th. The Goldman Sachs Group boosted their price objective on Spotify Technology from $156.00 to $163.00 and gave the company a “neutral” rating in a research note on Tuesday, July 25th. Finally, Morgan Stanley boosted their price objective on Spotify Technology from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, October 25th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $169.50.
Spotify Technology Stock Performance
Shares of SPOT opened at $176.04 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.27 and a current ratio of 1.27. The stock has a 50 day moving average price of $160.65 and a two-hundred day moving average price of $154.32. The firm has a market capitalization of $34.27 billion, a P/E ratio of -44.01 and a beta of 1.65. Spotify Technology S.A. has a 52 week low of $70.18 and a 52 week high of $182.00.
Spotify Technology (NYSE:SPOT – Get Free Report) last issued its quarterly earnings data on Tuesday, October 24th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.56. The firm had revenue of $3.65 billion during the quarter, compared to analyst estimates of $3.62 billion. Spotify Technology had a negative return on equity of 32.26% and a negative net margin of 5.70%. Equities analysts forecast that Spotify Technology S.A. will post -2.15 earnings per share for the current fiscal year.
About Spotify Technology
Spotify Technology SA, together with its subsidiaries, provides audio streaming 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.
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