Dnca Finance Boosts Stock Position in Spotify Technology $SPOT

Dnca Finance boosted its holdings in shares of Spotify Technology (NYSE:SPOT) by 59.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,800 shares of the company’s stock after purchasing an additional 9,641 shares during the period. Spotify Technology comprises approximately 1.5% of Dnca Finance’s holdings, making the stock its 20th largest holding. Dnca Finance’s holdings in Spotify Technology were worth $19,797,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fisher Asset Management LLC increased its stake in shares of Spotify Technology by 22.7% during the second quarter. Fisher Asset Management LLC now owns 2,489,013 shares of the company’s stock valued at $1,909,920,000 after buying an additional 460,115 shares during the period. Northern Trust Corp boosted its holdings in Spotify Technology by 10.3% in the first quarter. Northern Trust Corp now owns 1,574,482 shares of the company’s stock valued at $866,012,000 after acquiring an additional 147,580 shares in the last quarter. Geode Capital Management LLC increased its position in Spotify Technology by 3.3% during the 2nd quarter. Geode Capital Management LLC now owns 1,568,502 shares of the company’s stock valued at $1,192,730,000 after purchasing an additional 49,377 shares during the period. Invesco Ltd. raised its holdings in Spotify Technology by 17.3% in the 2nd quarter. Invesco Ltd. now owns 1,454,383 shares of the company’s stock worth $1,116,007,000 after purchasing an additional 214,355 shares in the last quarter. Finally, Edgewood Management LLC lifted its position in shares of Spotify Technology by 14.4% in the 2nd quarter. Edgewood Management LLC now owns 1,249,791 shares of the company’s stock worth $959,015,000 after purchasing an additional 157,567 shares during the period. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Performance

Shares of NYSE:SPOT opened at $565.62 on Friday. The stock’s 50-day simple moving average is $642.44 and its two-hundred day simple moving average is $679.32. The stock has a market capitalization of $116.46 billion, a price-to-earnings ratio of 88.93, a PEG ratio of 1.87 and a beta of 1.66. Spotify Technology has a 52-week low of $443.21 and a 52-week high of $785.00.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings results on Tuesday, November 4th. The company reported $3.83 EPS for the quarter, beating the consensus estimate of $1.87 by $1.96. The firm had revenue of $5.01 billion during the quarter, compared to analyst estimates of $4.23 billion. Spotify Technology had a net margin of 8.46% and a return on equity of 21.68%. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.45 EPS. As a group, equities analysts forecast that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SPOT. JPMorgan Chase & Co. increased their price target on shares of Spotify Technology from $740.00 to $805.00 and gave the stock an “overweight” rating in a research note on Monday, September 29th. Oppenheimer raised their price objective on Spotify Technology from $750.00 to $825.00 and gave the company an “outperform” rating in a research report on Monday, August 18th. The Goldman Sachs Group downgraded Spotify Technology from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $765.00 to $770.00 in a report on Tuesday, September 30th. Pivotal Research lowered their price objective on Spotify Technology from $900.00 to $875.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Finally, Wall Street Zen raised shares of Spotify Technology from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, Spotify Technology currently has a consensus rating of “Moderate Buy” and an average target price of $758.86.

Spotify Technology Profile

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.