Spotify Technology $SPOT Shares Acquired by Helios Capital Management PTE. Ltd.

Helios Capital Management PTE. Ltd. increased its position in Spotify Technology (NYSE:SPOT) by 56.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,500 shares of the company’s stock after buying an additional 2,700 shares during the quarter. Spotify Technology comprises about 3.6% of Helios Capital Management PTE. Ltd.’s investment portfolio, making the stock its 13th biggest position. Helios Capital Management PTE. Ltd.’s holdings in Spotify Technology were worth $5,235,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Spotify Technology by 1.9% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,254 shares of the company’s stock worth $3,667,000 after purchasing an additional 97 shares during the period. Elite Wealth Management Inc. acquired a new stake in Spotify Technology during the 3rd quarter worth approximately $3,179,000. First Horizon Corp purchased a new position in Spotify Technology in the third quarter valued at approximately $139,000. MGO One Seven LLC lifted its position in Spotify Technology by 2.8% during the third quarter. MGO One Seven LLC now owns 1,724 shares of the company’s stock valued at $1,203,000 after buying an additional 47 shares in the last quarter. Finally, Meeder Asset Management Inc. grew its stake in Spotify Technology by 212.5% during the third quarter. Meeder Asset Management Inc. now owns 100 shares of the company’s stock worth $70,000 after buying an additional 68 shares during the period. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Performance

Shares of Spotify Technology stock opened at $539.15 on Monday. Spotify Technology has a 1 year low of $451.43 and a 1 year high of $785.00. The firm’s 50-day simple moving average is $593.15 and its 200-day simple moving average is $659.44. The firm has a market cap of $111.01 billion, a PE ratio of 84.77, a price-to-earnings-growth ratio of 0.97 and a beta of 1.66.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings data 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. The firm had revenue of $5.01 billion for the quarter, compared to analysts’ expectations of $4.23 billion. Spotify Technology had a return on equity of 21.68% and a net margin of 8.46%.Spotify Technology’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.45 earnings per share. On average, equities analysts predict that Spotify Technology will post 10.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SPOT shares. The Goldman Sachs Group downgraded shares of Spotify Technology from a “buy” rating to a “neutral” rating and raised their target price for the company from $765.00 to $770.00 in a research note on Tuesday, September 30th. Wall Street Zen upgraded shares of Spotify Technology from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. BNP Paribas Exane began coverage on shares of Spotify Technology in a research note on Tuesday, September 16th. They issued an “outperform” rating and a $900.00 target price for the company. Phillip Securities raised shares of Spotify Technology from a “hold” rating to a “moderate buy” rating in a report on Monday, November 10th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Spotify Technology from $740.00 to $805.00 and gave the stock an “overweight” rating in a research note on Monday, September 29th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $754.90.

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.