Toroso Investments LLC Grows Position in Spotify Technology S.A. (NYSE:SPOT)

Toroso Investments LLC increased its holdings in Spotify Technology S.A. (NYSE:SPOT) by 12.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,579 shares of the company’s stock after acquiring an additional 713 shares during the quarter. Toroso Investments LLC’s holdings in Spotify Technology were worth $1,813,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Quest Investment Management LLC boosted its position in Spotify Technology by 7.7% in the second quarter. Quest Investment Management LLC now owns 13,250 shares of the company’s stock worth $3,652,000 after purchasing an additional 947 shares during the last quarter. Crestwood Capital Management L.P. bought a new position in shares of Spotify Technology during the 2nd quarter valued at approximately $8,474,000. Great West Life Assurance Co. Can grew its position in Spotify Technology by 62.3% in the 2nd quarter. Great West Life Assurance Co. Can now owns 39,385 shares of the company’s stock valued at $10,850,000 after acquiring an additional 15,125 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Spotify Technology by 4.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 106,289 shares of the company’s stock valued at $28,475,000 after acquiring an additional 4,834 shares during the last quarter. Finally, Legal & General Group Plc grew its position in Spotify Technology by 5.5% in the 2nd quarter. Legal & General Group Plc now owns 519,803 shares of the company’s stock valued at $143,253,000 after acquiring an additional 26,955 shares during the last quarter. 60.53% of the stock is owned by institutional investors.

Spotify Technology stock opened at $243.83 on Thursday. The stock’s 50-day moving average is $230.67 and its 200-day moving average is $244.54. The company has a market cap of $43.71 billion, a price-to-earnings ratio of -121.92 and a beta of 1.51. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 1.26. Spotify Technology S.A. has a 12 month low of $201.68 and a 12 month high of $387.44.

Spotify Technology (NYSE:SPOT) last posted its earnings results on Wednesday, July 28th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.33. Spotify Technology had a negative return on equity of 7.95% and a negative net margin of 2.56%. The business had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.75 billion. Research analysts anticipate that Spotify Technology S.A. will post -1.09 EPS for the current year.

SPOT has been the subject of several research reports. UBS Group upgraded Spotify Technology from a “sell” rating to a “neutral” rating and upped their target price for the stock from $235.00 to $240.00 in a report on Thursday, July 29th. Guggenheim raised Spotify Technology from a “neutral” rating to a “buy” rating and raised their target price for the stock from $245.00 to $265.00 in a report on Thursday, July 29th. DZ Bank initiated coverage on Spotify Technology in a research report on Friday, September 24th. They issued a “sell” rating and a $200.00 target price on the stock. Credit Suisse Group decreased their target price on Spotify Technology from $315.00 to $270.00 and set a “neutral” rating on the stock in a research report on Thursday, July 29th. Finally, Morgan Stanley reduced their price objective on Spotify Technology from $350.00 to $325.00 and set an “overweight” rating on the stock in a research report on Thursday, July 29th. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $298.52.

About Spotify Technology

Spotify Technology SA is a digital music service offering music fans instant access to a world of music. The company operates through the following segments: Premium and Ad-Supported. The Premium segment provides subscribers with unlimited online and offline high-quality streaming access of music and podcasts on computers, tablets, and mobile devices, users can connect through speakers, receivers, televisions, cars, game consoles, and smart watches.

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Institutional Ownership by Quarter for Spotify Technology (NYSE:SPOT)

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