Capital International Inc. CA Has $33.27 Million Position in Spotify Technology $SPOT

Capital International Inc. CA boosted its stake in shares of Spotify Technology (NYSE:SPOT) by 284.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 57,292 shares of the company’s stock after buying an additional 42,401 shares during the quarter. Capital International Inc. CA’s holdings in Spotify Technology were worth $33,270,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Capital International Investors lifted its holdings in Spotify Technology by 113.4% during the 4th quarter. Capital International Investors now owns 655,092 shares of the company’s stock worth $380,298,000 after buying an additional 348,126 shares during the period. Capital Group Private Client Services Inc. lifted its holdings in Spotify Technology by 57.1% during the 4th quarter. Capital Group Private Client Services Inc. now owns 5,436 shares of the company’s stock worth $3,157,000 after buying an additional 1,976 shares during the period. Los Angeles Capital Management LLC lifted its holdings in Spotify Technology by 30.9% during the 4th quarter. Los Angeles Capital Management LLC now owns 2,875 shares of the company’s stock worth $1,670,000 after buying an additional 678 shares during the period. Nemes Rush Group LLC lifted its holdings in Spotify Technology by 6.4% during the 4th quarter. Nemes Rush Group LLC now owns 3,139 shares of the company’s stock worth $1,823,000 after buying an additional 188 shares during the period. Finally, 111 Capital acquired a new position in Spotify Technology during the 4th quarter worth about $750,000. 84.09% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Spotify Technology

In related news, Director Sven Hans Martin Lorentzon sold 35,380 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $525.73, for a total transaction of $18,600,327.40. Following the transaction, the director directly owned 6,383 shares of the company’s stock, valued at approximately $3,355,734.59. This represents a 84.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas O. Staggs sold 5,477 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $526.00, for a total value of $2,880,902.00. Following the transaction, the director directly owned 3,619 shares in the company, valued at approximately $1,903,594. This trade represents a 60.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 111,442 shares of company stock worth $54,647,508 in the last quarter. Company insiders own 0.40% of the company’s stock.

Spotify Technology Price Performance

Shares of NYSE:SPOT opened at $497.19 on Friday. The company has a market capitalization of $102.36 billion, a price-to-earnings ratio of 39.62, a P/E/G ratio of 1.21 and a beta of 1.56. The business’s 50-day moving average is $481.01 and its 200-day moving average is $515.08. Spotify Technology has a 1 year low of $405.00 and a 1 year high of $785.00.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $4.04 earnings per share for the quarter, topping analysts’ consensus estimates of $3.41 by $0.63. Spotify Technology had a return on equity of 35.73% and a net margin of 15.56%.The business had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.23 billion. During the same period in the prior year, the business earned $1.07 EPS. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. Analysts anticipate that Spotify Technology will post 14.72 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on SPOT shares. Guggenheim dropped their price objective on Spotify Technology from $600.00 to $565.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Benchmark dropped their price objective on Spotify Technology from $760.00 to $695.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Arete Research raised Spotify Technology from a “neutral” rating to a “buy” rating and set a $586.00 price objective on the stock in a research note on Thursday, February 26th. Wells Fargo & Company boosted their price objective on Spotify Technology from $580.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. Finally, Morgan Stanley boosted their price objective on Spotify Technology from $590.00 to $610.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Spotify Technology has an average rating of “Moderate Buy” and a consensus target price of $655.92.

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.