Impax Asset Management Group plc Acquires 904 Shares of Spotify Technology S.A. (NYSE:SPOT)

Impax Asset Management Group plc raised its holdings in Spotify Technology S.A. (NYSE:SPOT) by 36.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,381 shares of the company’s stock after purchasing an additional 904 shares during the quarter. Impax Asset Management Group plc’s holdings in Spotify Technology were worth $1,246,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. WCM Investment Management LLC raised its position in Spotify Technology by 18.5% in the third quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock worth $1,430,142,000 after acquiring an additional 605,755 shares during the period. GQG Partners LLC purchased a new stake in shares of Spotify Technology during the 1st quarter worth approximately $610,040,000. Bamco Inc. NY raised its holdings in shares of Spotify Technology by 28.3% in the 1st quarter. Bamco Inc. NY now owns 864,584 shares of the company’s stock worth $228,164,000 after purchasing an additional 190,931 shares during the period. Swedbank AB lifted its stake in Spotify Technology by 13.2% in the second quarter. Swedbank AB now owns 852,526 shares of the company’s stock valued at $267,514,000 after purchasing an additional 99,730 shares during the last quarter. Finally, Perpetual Ltd grew its holdings in Spotify Technology by 24.3% during the third quarter. Perpetual Ltd now owns 759,681 shares of the company’s stock valued at $279,965,000 after purchasing an additional 148,431 shares during the period. 84.09% of the stock is owned by hedge funds and other institutional investors.

Spotify Technology Stock Performance

NYSE:SPOT opened at $458.32 on Friday. Spotify Technology S.A. has a 1-year low of $170.62 and a 1-year high of $489.69. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.56 and a quick ratio of 1.56. The business has a 50 day moving average of $378.15 and a 200 day moving average of $338.24. The company has a market capitalization of $91.23 billion, a price-to-earnings ratio of 124.54 and a beta of 1.56.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $1.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.30). The business had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.03 billion. Spotify Technology had a net margin of 4.66% and a return on equity of 20.99%. Spotify Technology’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same period last year, the company posted $0.36 EPS. On average, sell-side analysts predict that Spotify Technology S.A. will post 6.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. KeyCorp increased their price target on Spotify Technology from $490.00 to $520.00 and gave the stock an “overweight” rating in a research note on Wednesday. Phillip Securities reiterated an “accumulate” rating and issued a $485.00 target price (up previously from $420.00) on shares of Spotify Technology in a research note on Wednesday. The Goldman Sachs Group upped their price target on shares of Spotify Technology from $430.00 to $490.00 and gave the company a “buy” rating in a research note on Thursday. Macquarie lifted their price objective on shares of Spotify Technology from $395.00 to $500.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Bank of America increased their target price on Spotify Technology from $430.00 to $515.00 and gave the stock a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $421.69.

Spotify Technology Company 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.