Holocene Advisors LP Buys 90,016 Shares of Spotify Technology S.A. (NYSE:SPOT)

Holocene Advisors LP increased its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 41.6% in the third quarter, Holdings Channel.com reports. The fund owned 306,318 shares of the company’s stock after purchasing an additional 90,016 shares during the period. Holocene Advisors LP’s holdings in Spotify Technology were worth $112,887,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Transcendent Capital Group LLC purchased a new stake in Spotify Technology in the 2nd quarter worth $25,000. Benjamin Edwards Inc. increased its holdings in shares of Spotify Technology by 214.8% in the second quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock worth $27,000 after purchasing an additional 58 shares during the last quarter. Larson Financial Group LLC lifted its position in shares of Spotify Technology by 51.6% in the third quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock worth $36,000 after buying an additional 33 shares in the last quarter. Mather Group LLC. boosted its stake in Spotify Technology by 9,900.0% during the second quarter. Mather Group LLC. now owns 100 shares of the company’s stock valued at $31,000 after buying an additional 99 shares during the last quarter. Finally, V Square Quantitative Management LLC purchased a new position in Spotify Technology during the 3rd quarter valued at approximately $40,000. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Performance

Shares of Spotify Technology stock opened at $478.00 on Monday. The company has a market capitalization of $95.15 billion, a PE ratio of 129.61 and a beta of 1.56. The company has a 50-day simple moving average of $404.30 and a two-hundred day simple moving average of $350.99. Spotify Technology S.A. has a one year low of $185.37 and a one year high of $489.69.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings results on Tuesday, November 12th. The company reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($0.30). Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. The firm had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.03 billion. During the same period in the prior year, the firm posted $0.36 earnings per share. Spotify Technology’s revenue for the quarter was up 18.8% compared to the same quarter last year. On average, equities analysts predict that Spotify Technology S.A. will post 6.02 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SPOT. Bank of America lifted their price objective on shares of Spotify Technology from $430.00 to $515.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. boosted their target price on Spotify Technology from $425.00 to $530.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Macquarie raised their price target on Spotify Technology from $395.00 to $500.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Canaccord Genuity Group upped their price target on shares of Spotify Technology from $475.00 to $525.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, KeyCorp raised their price objective on shares of Spotify Technology from $490.00 to $520.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $421.69.

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.