Janus Henderson Group PLC Increases Stock Holdings in Spotify Technology $SPOT

Janus Henderson Group PLC raised its stake in Spotify Technology (NYSE:SPOT) by 2.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,424,171 shares of the company’s stock after purchasing an additional 30,028 shares during the quarter. Janus Henderson Group PLC’s holdings in Spotify Technology were worth $827,136,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Evolve Private Wealth LLC purchased a new position in shares of Spotify Technology in the 4th quarter valued at approximately $495,000. First Manhattan CO. LLC. purchased a new position in shares of Spotify Technology in the 4th quarter valued at approximately $388,000. Concentric Capital Strategies LP grew its stake in shares of Spotify Technology by 9.7% in the 4th quarter. Concentric Capital Strategies LP now owns 29,303 shares of the company’s stock valued at $17,017,000 after purchasing an additional 2,582 shares during the last quarter. Clough Capital Partners L P grew its stake in shares of Spotify Technology by 148.0% in the 4th quarter. Clough Capital Partners L P now owns 3,579 shares of the company’s stock valued at $2,078,000 after purchasing an additional 2,136 shares during the last quarter. Finally, Bamco Inc. NY grew its stake in shares of Spotify Technology by 0.9% in the 4th quarter. Bamco Inc. NY now owns 997,291 shares of the company’s stock valued at $579,137,000 after purchasing an additional 8,596 shares during the last quarter. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Spotify Technology

In other Spotify Technology news, Director Thomas O. Staggs sold 5,477 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $526.00, for a total transaction of $2,880,902.00. Following the sale, the director directly owned 3,619 shares in the company, valued at approximately $1,903,594. The trade was a 60.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christopher P. Marshall sold 2,650 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $519.86, for a total value of $1,377,629.00. Following the sale, the director owned 4,039 shares in the company, valued at approximately $2,099,714.54. The trade was a 39.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 111,442 shares of company stock valued at $54,647,508 in the last 90 days. 0.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on SPOT shares. Wall Street Zen downgraded Spotify Technology from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. The Goldman Sachs Group decreased their price target on Spotify Technology from $670.00 to $600.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Pivotal Research decreased their price target on Spotify Technology from $420.00 to $400.00 and set a “hold” rating on the stock in a research note on Wednesday, April 29th. Wells Fargo & Company lifted their price target 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, Guggenheim decreased their price target 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. Two research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $652.16.

Spotify Technology Stock Performance

SPOT opened at $456.54 on Thursday. The business’s fifty day moving average is $481.68 and its two-hundred day moving average is $507.77. The company has a market cap of $93.99 billion, a price-to-earnings ratio of 36.38, a PEG ratio of 1.15 and a beta of 1.56. Spotify Technology has a one year low of $405.00 and a one year high of $785.00.

Spotify Technology (NYSE:SPOT) last posted its earnings results on Tuesday, April 28th. The company reported $4.04 EPS for the quarter, topping analysts’ consensus estimates of $3.41 by $0.63. The company had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.23 billion. Spotify Technology had a return on equity of 35.73% and a net margin of 15.56%.Spotify Technology’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.07 earnings per share. On average, analysts predict that Spotify Technology will post 14.68 EPS for the current fiscal year.

Spotify Technology Company 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.