Aubrey Capital Management Ltd Grows Stake in Spotify Technology S.A. (NYSE:SPOT)

Aubrey Capital Management Ltd grew its holdings in Spotify Technology S.A. (NYSE:SPOT) by 3.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 10,000 shares of the company’s stock after acquiring an additional 300 shares during the quarter. Spotify Technology comprises 1.7% of Aubrey Capital Management Ltd’s investment portfolio, making the stock its 18th biggest holding. Aubrey Capital Management Ltd’s holdings in Spotify Technology were worth $4,473,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in SPOT. Jennison Associates LLC acquired a new position in Spotify Technology in the fourth quarter valued at $1,335,575,000. Forsta AP Fonden acquired a new position in Spotify Technology during the fourth quarter worth about $619,600,000. WCM Investment Management LLC grew its position in Spotify Technology by 18.5% during the third quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock worth $1,430,142,000 after buying an additional 605,755 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Spotify Technology by 36,910.0% in the third quarter. International Assets Investment Management LLC now owns 347,524 shares of the company’s stock valued at $128,073,000 after purchasing an additional 346,585 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of Spotify Technology by 23.4% in the third quarter. FMR LLC now owns 1,567,818 shares of the company’s stock valued at $577,788,000 after purchasing an additional 297,035 shares in the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. UBS Group upped their price objective on shares of Spotify Technology from $485.00 to $540.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Piper Sandler increased their price objective on shares of Spotify Technology from $330.00 to $450.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Bank of America increased their price objective on shares of Spotify Technology from $430.00 to $515.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Pivotal Research raised their price target on shares of Spotify Technology from $510.00 to $565.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, TD Cowen raised their price target on shares of Spotify Technology from $356.00 to $416.00 and gave the company a “hold” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, Spotify Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $514.79.

Spotify Technology Stock Down 0.4 %

Shares of NYSE:SPOT opened at $623.54 on Monday. The company has a market cap of $124.12 billion, a PE ratio of 104.80 and a beta of 1.63. The company’s 50-day moving average price is $493.96 and its 200 day moving average price is $415.25. Spotify Technology S.A. has a fifty-two week low of $228.07 and a fifty-two week high of $632.45.

Spotify Technology (NYSE:SPOT) last released its earnings results on Tuesday, November 12th. The company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.30). The company had revenue of $3.99 billion for the quarter, compared to analyst estimates of $4.03 billion. Spotify Technology had a net margin of 7.26% and a return on equity of 25.56%. The firm’s quarterly revenue was up 18.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.36 EPS. As a group, equities analysts anticipate that Spotify Technology S.A. will post 9.69 EPS for the current year.

Spotify Technology Profile

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.