Jefferies Financial Group Inc. Has $33.86 Million Position in Spotify Technology $SPOT

Jefferies Financial Group Inc. lifted its holdings in shares of Spotify Technology (NYSE:SPOT) by 5,387.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,505 shares of the company’s stock after buying an additional 47,621 shares during the period. Jefferies Financial Group Inc.’s holdings in Spotify Technology were worth $33,856,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SPOT. State Street Corp boosted its position in Spotify Technology by 1.7% during the second quarter. State Street Corp now owns 4,574,228 shares of the company’s stock valued at $3,509,988,000 after purchasing an additional 74,256 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Spotify Technology by 4.6% in the 3rd quarter. Fisher Asset Management LLC now owns 2,602,625 shares of the company’s stock valued at $1,816,632,000 after buying an additional 113,612 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Spotify Technology by 3.3% in the second quarter. Geode Capital Management LLC now owns 1,568,502 shares of the company’s stock valued at $1,192,730,000 after buying an additional 49,377 shares in the last quarter. Invesco Ltd. increased its holdings in Spotify Technology by 17.3% during the second quarter. Invesco Ltd. now owns 1,454,383 shares of the company’s stock worth $1,116,007,000 after buying an additional 214,355 shares during the last quarter. Finally, Edgewood Management LLC raised its position in Spotify Technology by 14.4% during the second quarter. Edgewood Management LLC now owns 1,249,791 shares of the company’s stock worth $959,015,000 after acquiring an additional 157,567 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Analyst Ratings Changes

SPOT has been the subject of a number of analyst reports. Benchmark decreased their price objective on shares of Spotify Technology from $860.00 to $760.00 and set a “buy” rating for the company in a research report on Friday, January 16th. Moffett Nathanson initiated coverage on Spotify Technology in a research report on Tuesday, January 27th. They set a “neutral” rating and a $487.00 price target on the stock. Citigroup raised Spotify Technology from a “neutral” rating to a “buy” rating and set a $650.00 price objective for the company in a research report on Friday, January 30th. Barclays boosted their target price on Spotify Technology from $625.00 to $650.00 and gave the stock an “overweight” rating in a report on Wednesday, February 11th. Finally, Citizens Jmp initiated coverage on Spotify Technology in a report on Wednesday, December 17th. They set a “market outperform” rating and a $800.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, Spotify Technology presently has an average rating of “Moderate Buy” and an average price target of $698.91.

Spotify Technology Trading Up 2.6%

NYSE:SPOT opened at $566.73 on Monday. The stock has a 50 day simple moving average of $507.95 and a 200 day simple moving average of $600.68. The stock has a market cap of $116.68 billion, a P/E ratio of 58.79, a PEG ratio of 1.23 and a beta of 1.66. Spotify Technology has a 1-year low of $405.00 and a 1-year high of $785.00.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings data on Tuesday, February 10th. The company reported $5.16 EPS for the quarter, beating 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 firm had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same period in the prior year, the firm posted $1.88 EPS. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. As a group, sell-side analysts forecast that Spotify Technology will post 10.3 EPS for the current year.

About Spotify Technology

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.