Vinva Investment Management Ltd Has $10.75 Million Holdings in Spotify Technology $SPOT

Vinva Investment Management Ltd lessened its holdings in Spotify Technology (NYSE:SPOT) by 35.0% during the third quarter, HoldingsChannel.com reports. The firm owned 14,751 shares of the company’s stock after selling 7,950 shares during the period. Vinva Investment Management Ltd’s holdings in Spotify Technology were worth $10,746,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Helios Capital Management PTE. Ltd. lifted its position in shares of Spotify Technology by 56.3% in the third quarter. Helios Capital Management PTE. Ltd. now owns 7,500 shares of the company’s stock valued at $5,235,000 after buying an additional 2,700 shares during the last quarter. Bessemer Group Inc. increased its holdings in shares of Spotify Technology by 35.1% during the 3rd quarter. Bessemer Group Inc. now owns 682,639 shares of the company’s stock worth $476,483,000 after acquiring an additional 177,310 shares during the last quarter. Truxt Investmentos Ltda. bought a new stake in Spotify Technology in the 3rd quarter valued at $2,093,000. Ownership Capital B.V. bought a new stake in Spotify Technology in the 3rd quarter valued at $2,769,000. Finally, Generali Asset Management SPA SGR lifted its holdings in Spotify Technology by 30.9% during the 3rd quarter. Generali Asset Management SPA SGR now owns 68,023 shares of the company’s stock valued at $46,692,000 after purchasing an additional 16,054 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Price Performance

Shares of NYSE SPOT opened at $566.73 on Monday. The stock’s fifty day moving average price is $507.95 and its two-hundred day moving average price is $600.68. Spotify Technology has a one year low of $405.00 and a one year high of $785.00. The firm has a market cap of $116.68 billion, a price-to-earnings ratio of 58.79, a P/E/G ratio of 1.23 and a beta of 1.66.

Spotify Technology (NYSE:SPOT) last posted its earnings results on Tuesday, February 10th. The company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $3.16 by $2.00. Spotify Technology had a return on equity of 31.35% and a net margin of 13.16%.The company had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter last year, the firm earned $1.88 earnings per share. The company’s revenue was up 6.8% on a year-over-year basis. On average, equities analysts anticipate that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. The Goldman Sachs Group raised shares of Spotify Technology from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $735.00 to $700.00 in a research report on Friday, January 23rd. Guggenheim dropped their price objective on shares of Spotify Technology from $720.00 to $600.00 and set a “buy” rating on the stock in a research report on Tuesday, February 24th. KeyCorp cut their target price on shares of Spotify Technology from $830.00 to $720.00 and set an “overweight” rating for the company in a research note on Monday, February 9th. Moffett Nathanson began coverage on shares of Spotify Technology in a report on Tuesday, January 27th. They set a “neutral” rating and a $487.00 target price for the company. Finally, Citizens Jmp began coverage on shares of Spotify Technology in a research note on Wednesday, December 17th. They issued a “market outperform” rating and a $800.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $698.91.

Spotify Technology Company 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.