Capital International Ltd. CA Buys 5,104 Shares of Spotify Technology $SPOT

Key Points

• Capital International Ltd. CA increased its stake in Spotify by 47.8% in Q3, buying 5,104 shares to hold 15,781 shares valued at about $11.02 million per its latest 13F filing.
• Other large institutions also shifted positions—Norges Bank opened a ~$768.9M stake, Principal Financial added 555,752 shares (now ~571,474 shares, ~$398.9M) and Fisher Asset holds ~2.49M shares (~$1.91B)—resulting in 84.09% institutional ownership.
• Analysts show a consensus "Moderate Buy" rating with a $698.91 target, and Spotify recently beat estimates (EPS $5.16 vs. $3.16 expected; revenue $5.32B), underpinning bullish growth expectations despite recent price volatility.

Capital International Ltd. CA grew its stake in Spotify Technology (NYSE:SPOT - Free Report) by 47.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,781 shares of the company's stock after purchasing an additional 5,104 shares during the quarter. Capital International Ltd. CA's holdings in Spotify Technology were worth $11,015,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SPOT. Norges Bank acquired a new position in Spotify Technology in the 2nd quarter valued at $768,915,000. Principal Financial Group Inc. boosted its position in shares of Spotify Technology by 3,534.9% in the third quarter. Principal Financial Group Inc. now owns 571,474 shares of the company's stock valued at $398,889,000 after acquiring an additional 555,752 shares during the period. Fisher Asset Management LLC grew its stake in shares of Spotify Technology by 22.7% in the second quarter. Fisher Asset Management LLC now owns 2,489,013 shares of the company's stock valued at $1,909,920,000 after acquiring an additional 460,115 shares in the last quarter. Franklin Resources Inc. increased its position in Spotify Technology by 41.8% during the second quarter. Franklin Resources Inc. now owns 1,131,099 shares of the company's stock worth $867,937,000 after acquiring an additional 333,537 shares during the period. Finally, Brown Advisory Inc. raised its stake in Spotify Technology by 931.2% in the 2nd quarter. Brown Advisory Inc. now owns 362,853 shares of the company's stock worth $278,456,000 after purchasing an additional 327,667 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on SPOT shares. Benchmark lowered their target price on shares of Spotify Technology from $860.00 to $760.00 and set a "buy" rating on the stock in a report on Friday, January 16th. Citizens Jmp initiated coverage on shares of Spotify Technology in a research note on Wednesday, December 17th. They issued a "market outperform" rating and a $800.00 price target on the stock. UBS Group lowered their target price on Spotify Technology from $850.00 to $800.00 and set a "buy" rating for the company in a research report on Friday, January 9th. Weiss Ratings cut Spotify Technology from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, February 26th. Finally, Barclays lifted their price objective on Spotify Technology from $625.00 to $650.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 11th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $698.91.

Spotify Technology Price Performance

Shares of Spotify Technology stock opened at $545.47 on Tuesday. The stock has a fifty day moving average price of $507.23 and a 200-day moving average price of $599.66. Spotify Technology has a 1 year low of $405.00 and a 1 year high of $785.00. The firm has a market cap of $112.30 billion, a PE ratio of 56.58, a P/E/G ratio of 1.23 and a beta of 1.66.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 10th. The company reported $5.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.16 by $2.00. Spotify Technology had a return on equity of 31.35% and a net margin of 13.16%.The business had revenue of $5.32 billion for the quarter, compared to analysts' expectations of $5.14 billion. During the same period in the previous year, the business posted $1.88 EPS. The firm's quarterly revenue was up 6.8% compared to the same quarter last year. As a group, equities analysts anticipate that Spotify Technology will post 10.3 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.

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