Generate Investment Management Ltd Acquires 3,826 Shares of Spotify Technology S.A. (NYSE:SPOT)

Generate Investment Management Ltd boosted its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 9.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,864 shares of the company’s stock after buying an additional 3,826 shares during the period. Generate Investment Management Ltd’s holdings in Spotify Technology were worth $16,165,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Larson Financial Group LLC grew its holdings in Spotify Technology by 86.0% during the first quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock worth $25,000 after buying an additional 43 shares in the last quarter. Transcendent Capital Group LLC purchased a new stake in shares of Spotify Technology in the second quarter valued at about $25,000. Benjamin Edwards Inc. lifted its position in shares of Spotify Technology by 214.8% during the second quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock valued at $27,000 after purchasing an additional 58 shares in the last quarter. Mather Group LLC. boosted its holdings in Spotify Technology by 9,900.0% during the second quarter. Mather Group LLC. now owns 100 shares of the company’s stock worth $31,000 after purchasing an additional 99 shares during the last quarter. Finally, FinTrust Capital Advisors LLC grew its position in Spotify Technology by 400.0% in the 1st quarter. FinTrust Capital Advisors LLC now owns 125 shares of the company’s stock worth $33,000 after purchasing an additional 100 shares in the last quarter. 84.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SPOT has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Spotify Technology from $375.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Bank of America boosted their price objective on Spotify Technology from $370.00 to $380.00 and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. Jefferies Financial Group reaffirmed a “buy” rating and set a $385.00 target price (up from $242.00) on shares of Spotify Technology in a research report on Thursday, July 11th. Redburn Atlantic reiterated a “sell” rating and set a $230.00 target price on shares of Spotify Technology in a research note on Wednesday, July 10th. Finally, Evercore ISI increased their price target on shares of Spotify Technology from $420.00 to $460.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $362.21.

Spotify Technology Trading Up 3.3 %

Shares of Spotify Technology stock opened at $378.81 on Friday. The company’s 50-day moving average price is $352.57 and its 200-day moving average price is $322.71. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.31. Spotify Technology S.A. has a 12-month low of $145.76 and a 12-month high of $389.23. The company has a market cap of $75.40 billion, a price-to-earnings ratio of 154.62 and a beta of 1.58.

Spotify Technology (NYSE:SPOT) last posted its earnings results on Tuesday, July 23rd. The company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.25. The business had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.82 billion. Spotify Technology had a net margin of 3.22% and a return on equity of 15.23%. The business’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.69) EPS. On average, equities analysts expect that Spotify Technology S.A. will post 6.24 earnings per share for the current fiscal year.

Spotify Technology Company 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.