Spotify Technology $SPOT Shares Bought by Capital International Sarl

Capital International Sarl lifted its holdings in Spotify Technology (NYSE:SPOT) by 65.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,474 shares of the company’s stock after purchasing an additional 9,699 shares during the quarter. Capital International Sarl’s holdings in Spotify Technology were worth $17,083,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of SPOT. Sivia Capital Partners LLC acquired a new stake in Spotify Technology in the second quarter worth about $312,000. Atlantic Union Bankshares Corp bought a new stake in shares of Spotify Technology during the 2nd quarter worth about $127,000. Savant Capital LLC raised its position in shares of Spotify Technology by 50.5% during the 2nd quarter. Savant Capital LLC now owns 2,767 shares of the company’s stock worth $2,123,000 after buying an additional 929 shares in the last quarter. Wedbush Securities Inc. lifted its stake in shares of Spotify Technology by 17.0% in the 2nd quarter. Wedbush Securities Inc. now owns 1,987 shares of the company’s stock worth $1,525,000 after acquiring an additional 288 shares during the period. Finally, Penserra Capital Management LLC lifted its stake in shares of Spotify Technology by 129.0% in the 2nd quarter. Penserra Capital Management LLC now owns 7,723 shares of the company’s stock worth $5,925,000 after acquiring an additional 4,351 shares during the period. 84.09% of the stock is owned by institutional investors and hedge funds.

Spotify Technology Price Performance

Shares of SPOT opened at $545.47 on Tuesday. The company has a 50-day moving average of $507.23 and a two-hundred day moving average of $599.66. The stock has a market cap of $112.30 billion, a price-to-earnings ratio of 56.58, a PEG ratio of 1.23 and a beta of 1.66. Spotify Technology has a one year low of $405.00 and a one year high of $785.00.

Spotify Technology (NYSE:SPOT) last released its earnings results on Tuesday, February 10th. The company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.16 by $2.00. The company had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.14 billion. Spotify Technology had a return on equity of 31.35% and a net margin of 13.16%.The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.88 earnings per share. Analysts anticipate that Spotify Technology will post 10.3 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on SPOT. Barclays raised their price objective on shares of Spotify Technology from $625.00 to $650.00 and gave the company an “overweight” rating in a research note on Wednesday, February 11th. Guggenheim decreased their price target on Spotify Technology from $720.00 to $600.00 and set a “buy” rating for the company in a research note on Tuesday, February 24th. Weiss Ratings downgraded Spotify Technology from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, February 26th. Arete Research upgraded Spotify Technology from a “neutral” rating to a “buy” rating and set a $586.00 price objective for the company in a report on Thursday, February 26th. Finally, Moffett Nathanson started coverage on shares of Spotify Technology in a report on Tuesday, January 27th. They issued a “neutral” rating and a $487.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $698.91.

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.