Janus Henderson Group PLC Boosts Position in Spotify Technology S.A. (NYSE:SPOT)

Janus Henderson Group PLC grew its holdings in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 325.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,125,465 shares of the company's stock after acquiring an additional 861,232 shares during the period. Janus Henderson Group PLC owned about 0.57% of Spotify Technology worth $503,316,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Jasper Ridge Partners L.P. grew its position in Spotify Technology by 4.1% during the 4th quarter. Jasper Ridge Partners L.P. now owns 10,150 shares of the company's stock worth $4,541,000 after purchasing an additional 399 shares during the period. Hudson Way Capital Management LLC raised its position in Spotify Technology by 1.1% during the fourth quarter. Hudson Way Capital Management LLC now owns 64,795 shares of the company's stock valued at $28,988,000 after acquiring an additional 727 shares in the last quarter. Gotham Asset Management LLC raised its position in Spotify Technology by 15.5% during the fourth quarter. Gotham Asset Management LLC now owns 27,708 shares of the company's stock valued at $12,396,000 after acquiring an additional 3,715 shares in the last quarter. Focus Partners Wealth lifted its holdings in Spotify Technology by 310.6% in the fourth quarter. Focus Partners Wealth now owns 7,543 shares of the company's stock valued at $3,375,000 after acquiring an additional 5,706 shares during the period. Finally, Emmett Investment Management LP acquired a new stake in shares of Spotify Technology during the 4th quarter worth approximately $7,591,000. Institutional investors and hedge funds own 84.09% of the company's stock.

Analyst Ratings Changes

SPOT has been the subject of several analyst reports. Rosenblatt Securities decreased their target price on shares of Spotify Technology from $658.00 to $657.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. Cantor Fitzgerald dropped their target price on Spotify Technology from $600.00 to $520.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Robert W. Baird upped their price target on Spotify Technology from $700.00 to $730.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. KeyCorp lowered their price target on Spotify Technology from $675.00 to $625.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Finally, UBS Group cut their price objective on Spotify Technology from $690.00 to $680.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Eight investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, Spotify Technology has a consensus rating of "Moderate Buy" and an average target price of $604.76.

Spotify Technology Trading Down 1.0 %

Spotify Technology stock opened at $648.97 on Friday. The company has a 50-day moving average price of $575.47 and a 200 day moving average price of $524.89. Spotify Technology S.A. has a 12-month low of $286.21 and a 12-month high of $663.55. The stock has a market cap of $132.85 billion, a P/E ratio of 109.07 and a beta of 1.72.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $1.13 EPS 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 quarterly revenue was up 15.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.97 EPS. As a group, analysts forecast that Spotify Technology S.A. will post 10.3 EPS for the current year.

Spotify Technology Company 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.

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