Stonekeep Investments LLC Makes New $223,000 Investment in Spotify Technology S.A. (NYSE:SPOT)

Stonekeep Investments LLC purchased a new position in Spotify Technology S.A. (NYSE:SPOT) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 710 shares of the company’s stock, valued at approximately $223,000.

Several other large investors also recently modified their holdings of SPOT. Clearbridge Investments LLC raised its position in shares of Spotify Technology by 0.6% in the 1st quarter. Clearbridge Investments LLC now owns 6,892 shares of the company’s stock worth $1,819,000 after acquiring an additional 38 shares in the last quarter. Cigna Investments Inc. New increased its position in Spotify Technology by 3.3% in the 2nd quarter. Cigna Investments Inc. New now owns 1,260 shares of the company’s stock valued at $395,000 after buying an additional 40 shares in the last quarter. Moody Lynn & Lieberson LLC raised its stake in Spotify Technology by 0.6% during the 2nd quarter. Moody Lynn & Lieberson LLC now owns 6,843 shares of the company’s stock worth $2,147,000 after buying an additional 40 shares during the period. Larson Financial Group LLC boosted its holdings in Spotify Technology by 86.0% in the first quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock worth $25,000 after acquiring an additional 43 shares in the last quarter. Finally, Brookstone Capital Management grew its stake in Spotify Technology by 4.6% in the second quarter. Brookstone Capital Management now owns 1,339 shares of the company’s stock valued at $395,000 after acquiring an additional 59 shares during the period. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on SPOT shares. Redburn Atlantic reaffirmed a “sell” rating and set a $230.00 target price on shares of Spotify Technology in a research report on Wednesday, July 10th. JPMorgan Chase & Co. raised their price objective on shares of Spotify Technology from $375.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Guggenheim boosted their target price on shares of Spotify Technology from $400.00 to $420.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Evercore ISI raised their price target on shares of Spotify Technology from $420.00 to $460.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Finally, TD Cowen boosted their price objective on Spotify Technology from $273.00 to $356.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $356.38.

Spotify Technology Stock Down 1.8 %

SPOT opened at $322.77 on Monday. 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’s 50 day simple moving average is $325.42 and its 200 day simple moving average is $301.87. Spotify Technology S.A. has a 1 year low of $145.76 and a 1 year high of $359.38.

Spotify Technology (NYSE:SPOT) last issued its earnings results on Tuesday, July 23rd. The company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.25. Spotify Technology had a net margin of 3.22% and a return on equity of 15.23%. The firm had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.82 billion. During the same quarter last year, the business earned ($1.69) earnings per share. The business’s revenue was up 19.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Spotify Technology S.A. will post 6.31 EPS for the current fiscal 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.