Spotify Technology (NYSE:SPOT) Stock Holdings Lifted by Machina Capital S.A.S.

Machina Capital S.A.S. boosted its stake in shares of Spotify Technology (NYSE:SPOT - Free Report) by 95.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,150 shares of the company's stock after purchasing an additional 1,540 shares during the quarter. Machina Capital S.A.S.'s holdings in Spotify Technology were worth $1,733,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in SPOT. Jennison Associates LLC grew its holdings in Spotify Technology by 42.3% in the 1st quarter. Jennison Associates LLC now owns 4,247,940 shares of the company's stock worth $2,336,494,000 after buying an additional 1,262,614 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Spotify Technology by 561.6% in the fourth quarter. Geode Capital Management LLC now owns 1,483,392 shares of the company's stock worth $659,841,000 after purchasing an additional 1,259,183 shares in the last quarter. Norges Bank bought a new position in shares of Spotify Technology in the fourth quarter worth $396,028,000. Janus Henderson Group PLC increased its holdings in shares of Spotify Technology by 325.9% during the fourth quarter. Janus Henderson Group PLC now owns 1,125,465 shares of the company's stock valued at $503,316,000 after purchasing an additional 861,232 shares during the period. Finally, Northern Trust Corp raised its position in shares of Spotify Technology by 103.7% during the 4th quarter. Northern Trust Corp now owns 1,426,902 shares of the company's stock worth $638,367,000 after buying an additional 726,245 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SPOT has been the subject of several recent analyst reports. DZ Bank cut shares of Spotify Technology from a "strong-buy" rating to a "strong sell" rating in a report on Friday, June 13th. KeyCorp increased their price target on Spotify Technology from $640.00 to $860.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. JPMorgan Chase & Co. lifted their price target on Spotify Technology from $730.00 to $780.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. FBN Securities initiated coverage on Spotify Technology in a report on Friday, March 28th. They issued a "sector perform" rating and a $645.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Spotify Technology from $700.00 to $775.00 and gave the company a "buy" rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $727.52.

Spotify Technology Stock Performance

Shares of SPOT stock traded up $11.43 on Friday, reaching $692.85. 1,756,975 shares of the company's stock traded hands, compared to its average volume of 1,713,343. The business's 50 day moving average price is $700.63 and its two-hundred day moving average price is $615.88. The company has a market capitalization of $141.83 billion, a P/E ratio of 113.00, a price-to-earnings-growth ratio of 1.81 and a beta of 1.68. Spotify Technology has a 12-month low of $300.57 and a 12-month high of $785.00.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its 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 business had revenue of $4.41 billion for the quarter, compared to analysts' expectations of $4.22 billion. Spotify Technology had a net margin of 7.19% and a return on equity of 22.53%. The company's revenue was up 15.2% compared to the same quarter last year. During the same period last year, the firm earned $0.97 EPS. Research analysts predict that Spotify Technology will post 10.3 earnings per share for the current year.

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.