WINTON GROUP Ltd Has $13.70 Million Holdings in Spotify Technology $SPOT

WINTON GROUP Ltd increased its stake in shares of Spotify Technology (NYSE:SPOT) by 232.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,625 shares of the company’s stock after acquiring an additional 13,720 shares during the period. WINTON GROUP Ltd’s holdings in Spotify Technology were worth $13,698,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Knuff & Co LLC acquired a new position in Spotify Technology in the 2nd quarter worth $27,000. Total Investment Management Inc. acquired a new stake in shares of Spotify Technology in the 2nd quarter valued at about $29,000. Heartwood Wealth Advisors LLC bought a new stake in shares of Spotify Technology in the third quarter valued at about $27,000. Greykasell Wealth Strategies Inc. grew its holdings in shares of Spotify Technology by 3,800.0% during the third quarter. Greykasell Wealth Strategies Inc. now owns 39 shares of the company’s stock worth $27,000 after buying an additional 38 shares in the last quarter. Finally, Westfuller Advisors LLC acquired a new stake in Spotify Technology in the 3rd quarter valued at approximately $29,000. 84.09% of the stock is owned by institutional investors.

Spotify Technology Trading Up 2.6%

NYSE SPOT opened at $566.73 on Monday. Spotify Technology has a 12 month low of $405.00 and a 12 month high of $785.00. The stock has a 50 day moving average of $507.95 and a 200-day moving average of $600.68. The company has a market cap of $116.68 billion, a PE ratio of 58.79, a PEG ratio of 1.23 and a beta of 1.66.

Spotify Technology (NYSE:SPOT) last issued 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 net margin of 13.16% and a return on equity of 31.35%. The business had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same period in the previous year, the company earned $1.88 earnings per share. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. As a group, sell-side analysts predict that Spotify Technology will post 10.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SPOT has been the subject of a number of recent research reports. Moffett Nathanson started coverage on Spotify Technology in a research report on Tuesday, January 27th. They set a “neutral” rating and a $487.00 price target for the company. Weiss Ratings cut shares of Spotify Technology from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, February 26th. Cantor Fitzgerald decreased their target price on shares of Spotify Technology from $615.00 to $525.00 and set a “neutral” rating for the company in a research report on Wednesday, February 11th. Wells Fargo & Company lowered their price target on shares of 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, UBS Group cut their price target on shares of Spotify Technology from $850.00 to $800.00 and set a “buy” rating on the stock in a research report on Friday, January 9th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $698.91.

About Spotify Technology

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.