Assenagon Asset Management S.A. Has $140.12 Million Stock Holdings in Spotify Technology S.A. (NYSE:SPOT)

Assenagon Asset Management S.A. boosted its position in Spotify Technology S.A. (NYSE:SPOT) by 179.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 380,214 shares of the company’s stock after purchasing an additional 243,933 shares during the period. Assenagon Asset Management S.A. owned about 0.19% of Spotify Technology worth $140,120,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GQG Partners LLC acquired a new position in shares of Spotify Technology in the first quarter valued at $610,040,000. Swedbank AB acquired a new position in Spotify Technology in the 1st quarter valued at about $198,663,000. International Assets Investment Management LLC raised its holdings in Spotify Technology by 36,910.0% in the 3rd quarter. International Assets Investment Management LLC now owns 347,524 shares of the company’s stock valued at $128,073,000 after acquiring an additional 346,585 shares during the period. Sei Investments Co. lifted its position in Spotify Technology by 106.8% during the second quarter. Sei Investments Co. now owns 646,380 shares of the company’s stock worth $202,828,000 after acquiring an additional 333,782 shares during the last quarter. Finally, Castle Hook Partners LP bought a new stake in shares of Spotify Technology during the first quarter worth approximately $60,870,000. Institutional investors own 84.09% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on SPOT shares. Macquarie increased their target price on Spotify Technology from $345.00 to $395.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. increased their price objective on Spotify Technology from $375.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. The Goldman Sachs Group raised shares of Spotify Technology from a “neutral” rating to a “buy” rating and boosted their target price for the company from $320.00 to $425.00 in a research report on Wednesday, July 24th. Evercore ISI upped their price target on shares of Spotify Technology from $420.00 to $460.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, Pivotal Research lifted their price objective on shares of Spotify Technology from $460.00 to $510.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $363.24.

Spotify Technology Trading Up 0.1 %

Shares of NYSE:SPOT traded up $0.53 during midday trading on Thursday, hitting $380.37. 368,084 shares of the stock were exchanged, compared to its average volume of 1,852,267. The business’s 50-day moving average price is $355.37 and its 200 day moving average price is $324.84. Spotify Technology S.A. has a 12 month low of $155.00 and a 12 month high of $389.48. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.56 and a current ratio of 1.56. The stock has a market capitalization of $75.71 billion, a price-to-earnings ratio of 155.06 and a beta of 1.58.

Spotify Technology (NYSE:SPOT) last posted its earnings results on Tuesday, July 23rd. The company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.25. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.82 billion. Spotify Technology had a net margin of 3.22% and a return on equity of 15.23%. The company’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.69) EPS. Analysts predict that Spotify Technology S.A. will post 6.22 earnings per share for the current year.

About Spotify Technology

Spotify Technology SA, together with its subsidiaries, provides audio streaming subscription services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.