Dnca Finance Purchases 6,540 Shares of Spotify Technology $SPOT

Dnca Finance grew its position in Spotify Technology (NYSE:SPOT) by 25.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 32,340 shares of the company’s stock after buying an additional 6,540 shares during the period. Spotify Technology makes up about 1.5% of Dnca Finance’s investment portfolio, making the stock its 19th largest holding. Dnca Finance’s holdings in Spotify Technology were worth $22,573,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sage Mountain Advisors LLC increased its position in shares of Spotify Technology by 6.3% during the third quarter. Sage Mountain Advisors LLC now owns 289 shares of the company’s stock valued at $201,000 after acquiring an additional 17 shares in the last quarter. Fullerton Fund Management Co Ltd. lifted its position in Spotify Technology by 7.0% in the 2nd quarter. Fullerton Fund Management Co Ltd. now owns 276 shares of the company’s stock valued at $212,000 after acquiring an additional 18 shares in the last quarter. Granite Group Advisors LLC lifted its position in Spotify Technology by 2.6% in the 3rd quarter. Granite Group Advisors LLC now owns 756 shares of the company’s stock valued at $528,000 after acquiring an additional 19 shares in the last quarter. Ameritas Advisory Services LLC boosted its stake in Spotify Technology by 7.9% during the 3rd quarter. Ameritas Advisory Services LLC now owns 260 shares of the company’s stock valued at $181,000 after purchasing an additional 19 shares during the last quarter. Finally, Aprio Wealth Management LLC increased its holdings in shares of Spotify Technology by 3.1% in the 3rd quarter. Aprio Wealth Management LLC now owns 633 shares of the company’s stock worth $442,000 after purchasing an additional 19 shares in the last quarter. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Up 1.3%

NYSE SPOT opened at $516.14 on Friday. Spotify Technology has a twelve month low of $405.00 and a twelve month high of $785.00. The business has a 50-day moving average price of $502.35 and a 200-day moving average price of $596.07. The firm has a market cap of $106.26 billion, a price-to-earnings ratio of 53.54, a price-to-earnings-growth ratio of 1.11 and a beta of 1.66.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings results on Tuesday, February 10th. The company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $3.16 by $2.00. Spotify Technology had a return on equity of 31.35% and a net margin of 13.16%.The company had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same period in the previous year, the firm earned $1.88 EPS. The firm’s revenue was up 6.8% compared to the same quarter last year. Research analysts expect that Spotify Technology will post 10.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SPOT shares. Arete Research upgraded Spotify Technology from a “neutral” rating to a “buy” rating and set a $586.00 price target for the company in a research note on Thursday, February 26th. Cantor Fitzgerald reduced their price objective on Spotify Technology from $615.00 to $525.00 and set a “neutral” rating for the company in a report on Wednesday, February 11th. Erste Group Bank lowered shares of Spotify Technology from a “buy” rating to a “hold” rating in a research note on Friday, December 5th. Citizens Jmp started coverage on shares of Spotify Technology in a report on Wednesday, December 17th. They issued a “market outperform” rating and a $800.00 price objective on the stock. Finally, UBS Group decreased their target price on Spotify Technology from $850.00 to $800.00 and set a “buy” rating on the stock in a report on Friday, January 9th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $703.87.

Spotify Technology Profile

Spotify Technology is a digital audio streaming company best known for its on-demand music service and a growing portfolio of spoken-word content. Founded in Sweden in 2006 by Daniel Ek and Martin Lorentzon and launched commercially in 2008, the company offers a cross-platform app that enables users to discover, stream and organize music, podcasts and other audio. Its primary consumer products include a free, ad-supported tier and a paid Spotify Premium subscription that provides ad-free listening, offline playback and higher-quality audio streams.