Jackson Square Capital LLC Makes New $6.27 Million Investment in Spotify Technology S.A. (NYSE:SPOT)

Jackson Square Capital LLC bought a new position in Spotify Technology S.A. (NYSE:SPOT - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,399 shares of the company's stock, valued at approximately $6,270,000. Spotify Technology comprises about 2.0% of Jackson Square Capital LLC's portfolio, making the stock its 15th largest position.

A number of other institutional investors have also recently modified their holdings of the stock. Auxano Advisors LLC grew its stake in shares of Spotify Technology by 2.5% in the fourth quarter. Auxano Advisors LLC now owns 828 shares of the company's stock worth $370,000 after acquiring an additional 20 shares during the last quarter. SRS Capital Advisors Inc. boosted its position in shares of Spotify Technology by 4.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 573 shares of the company's stock valued at $256,000 after buying an additional 25 shares during the last quarter. Covenant Partners LLC boosted its position in shares of Spotify Technology by 2.5% during the fourth quarter. Covenant Partners LLC now owns 1,024 shares of the company's stock valued at $458,000 after buying an additional 25 shares during the last quarter. First Horizon Advisors Inc. boosted its position in shares of Spotify Technology by 5.4% during the fourth quarter. First Horizon Advisors Inc. now owns 504 shares of the company's stock valued at $225,000 after buying an additional 26 shares during the last quarter. Finally, Harbour Investments Inc. boosted its position in shares of Spotify Technology by 13.3% during the fourth quarter. Harbour Investments Inc. now owns 222 shares of the company's stock valued at $99,000 after buying an additional 26 shares during the last quarter. 84.09% of the stock is owned by hedge funds and other institutional investors.

Spotify Technology Stock Performance

NYSE:SPOT traded up $7.71 during mid-day trading on Friday, hitting $710.53. 1,124,720 shares of the company's stock traded hands, compared to its average volume of 2,209,186. The company has a fifty day moving average of $629.98 and a 200 day moving average of $566.76. The company has a market capitalization of $145.45 billion, a P/E ratio of 119.42 and a beta of 1.68. Spotify Technology S.A. has a twelve month low of $288.07 and a twelve month high of $717.87.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $1.13 earnings per share for the quarter, missing the consensus estimate of $2.29 by ($1.16). The firm had revenue of $4.41 billion for the quarter, compared to analysts' expectations of $4.22 billion. Spotify Technology had a net margin of 7.26% and a return on equity of 25.56%. The firm's revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.97 EPS. On average, research analysts expect that Spotify Technology S.A. will post 10.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Guggenheim reissued a "buy" rating on shares of Spotify Technology in a report on Friday, June 6th. Sanford C. Bernstein raised Spotify Technology to a "strong-buy" rating in a report on Tuesday, June 3rd. Wolfe Research raised Spotify Technology from a "peer perform" rating to an "outperform" rating and set a $660.00 target price on the stock in a report on Monday, April 21st. Wells Fargo & Company increased their target price on Spotify Technology from $690.00 to $740.00 and gave the company an "overweight" rating in a report on Friday, March 28th. Finally, UBS Group reissued an "overweight" rating on shares of Spotify Technology in a report on Friday, June 6th. Eight analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $611.14.

About Spotify Technology

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.