DSG Capital Advisors LLC Has $647,000 Stock Position in Spotify Technology $SPOT

DSG Capital Advisors LLC lessened its position in shares of Spotify Technology (NYSE:SPOT) by 52.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 927 shares of the company’s stock after selling 1,029 shares during the quarter. DSG Capital Advisors LLC’s holdings in Spotify Technology were worth $647,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Little House Capital LLC raised its holdings in Spotify Technology by 7.8% during the 3rd quarter. Little House Capital LLC now owns 1,485 shares of the company’s stock worth $1,037,000 after purchasing an additional 107 shares during the last quarter. Stonegate Investment Group LLC grew its position in shares of Spotify Technology by 22.8% during the 3rd quarter. Stonegate Investment Group LLC now owns 382 shares of the company’s stock worth $267,000 after buying an additional 71 shares during the period. EFG Asset Management North America Corp. acquired a new stake in shares of Spotify Technology during the 3rd quarter worth approximately $2,750,000. Ownership Capital B.V. bought a new stake in shares of Spotify Technology during the third quarter worth approximately $2,769,000. Finally, Chilton Capital Management LLC lifted its holdings in Spotify Technology by 183.3% in the third quarter. Chilton Capital Management LLC now owns 51 shares of the company’s stock valued at $36,000 after buying an additional 33 shares during the period. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Price Performance

Shares of Spotify Technology stock opened at $511.75 on Wednesday. The company has a market capitalization of $105.36 billion, a P/E ratio of 80.46, a price-to-earnings-growth ratio of 0.97 and a beta of 1.66. The business has a 50-day moving average of $564.41 and a two-hundred day moving average of $640.90. Spotify Technology has a 1 year low of $475.01 and a 1 year high of $785.00.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings data on Tuesday, November 4th. The company reported $3.83 earnings per share for the quarter, beating the consensus estimate of $1.87 by $1.96. Spotify Technology had a return on equity of 21.68% and a net margin of 8.46%.The business had revenue of $5.01 billion for the quarter, compared to analysts’ expectations of $4.23 billion. During the same quarter in the previous year, the business posted $1.45 EPS. Spotify Technology’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, equities analysts anticipate that Spotify Technology will post 10.3 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Erste Group Bank lowered shares of Spotify Technology from a “buy” rating to a “hold” rating in a report on Friday, December 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Spotify Technology in a research note on Monday, December 29th. The Goldman Sachs Group raised Spotify Technology from a “neutral” rating to a “buy” rating and cut their target price for the company from $735.00 to $700.00 in a research note on Friday, January 23rd. Phillip Securities upgraded Spotify Technology from a “hold” rating to a “moderate buy” rating in a research report on Monday, November 10th. Finally, Pivotal Research lowered their price target on Spotify Technology from $900.00 to $875.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, Spotify Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $730.94.

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.