Spotify Technology $SPOT Holdings Raised by Lingohr Asset Management GmbH

Lingohr Asset Management GmbH lifted its stake in Spotify Technology (NYSE:SPOT) by 975.0% in the third quarter, HoldingsChannel reports. The firm owned 8,600 shares of the company’s stock after purchasing an additional 7,800 shares during the period. Spotify Technology accounts for 1.5% of Lingohr Asset Management GmbH’s holdings, making the stock its 27th biggest position. Lingohr Asset Management GmbH’s holdings in Spotify Technology were worth $6,003,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Joel Isaacson & Co. LLC lifted its stake in Spotify Technology by 1.0% during the second quarter. Joel Isaacson & Co. LLC now owns 1,551 shares of the company’s stock valued at $1,190,000 after buying an additional 15 shares in the last quarter. Ignite Planners LLC lifted its position in shares of Spotify Technology by 2.4% in the 2nd quarter. Ignite Planners LLC now owns 637 shares of the company’s stock valued at $489,000 after acquiring an additional 15 shares in the last quarter. Sage Mountain Advisors LLC lifted its position in shares of Spotify Technology by 6.3% in the 3rd quarter. Sage Mountain Advisors LLC now owns 289 shares of the company’s stock valued at $201,000 after acquiring an additional 17 shares in the last quarter. Cloud Capital Management LLC boosted its stake in Spotify Technology by 4.8% in the 2nd quarter. Cloud Capital Management LLC now owns 392 shares of the company’s stock worth $301,000 after purchasing an additional 18 shares during the period. Finally, Fullerton Fund Management Co Ltd. grew its position in Spotify Technology by 7.0% during the 2nd quarter. Fullerton Fund Management Co Ltd. now owns 276 shares of the company’s stock worth $212,000 after purchasing an additional 18 shares in the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Analyst Ratings Changes

SPOT has been the subject of a number of research analyst reports. Sanford C. Bernstein reduced their target price on Spotify Technology from $830.00 to $650.00 and set an “outperform” rating for the company in a report on Wednesday, January 14th. Weiss Ratings reissued a “hold (c+)” rating on shares of Spotify Technology in a research report on Monday, December 29th. Citizens Jmp initiated coverage on Spotify Technology in a research note on Wednesday, December 17th. They issued a “market outperform” rating and a $800.00 price objective for the company. Wells Fargo & Company lowered their target price on Spotify Technology from $750.00 to $710.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 13th. Finally, Pivotal Research dropped their target price on Spotify Technology from $900.00 to $875.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, Spotify Technology has an average rating of “Moderate Buy” and an average target price of $727.71.

Spotify Technology Price Performance

Shares of SPOT stock opened at $499.69 on Friday. Spotify Technology has a fifty-two week low of $475.01 and a fifty-two week high of $785.00. The stock’s 50-day moving average is $558.79 and its two-hundred day moving average is $637.52. The firm has a market cap of $102.88 billion, a P/E ratio of 78.57, a PEG ratio of 0.96 and a beta of 1.66.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $3.83 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $4.23 billion. During the same period in the previous year, the company earned $1.45 EPS. The firm’s revenue was up 7.1% on a year-over-year basis. As a group, research analysts expect that Spotify Technology will post 10.3 EPS for the current year.

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.