Kowal Investment Group LLC Increases Position in Spotify Technology S.A. (NYSE:SPOT)

by · The Cerbat Gem

Kowal Investment Group LLC grew its holdings in shares of Spotify Technology S.A. (NYSE:SPOT – Free Report) by 27.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,689 shares of the company’s stock after acquiring an additional 368 shares during the period. Kowal Investment Group LLC’s holdings in Spotify Technology were worth $622,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in SPOT. Larson Financial Group LLC boosted its stake in Spotify Technology by 86.0% during the 1st quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock valued at $25,000 after purchasing an additional 43 shares during the last quarter. Transcendent Capital Group LLC purchased a new stake in shares of Spotify Technology during the second quarter valued at $25,000. Benjamin Edwards Inc. increased its holdings in Spotify Technology by 214.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock worth $27,000 after buying an additional 58 shares in the last quarter. Mather Group LLC. raised its position in Spotify Technology by 9,900.0% in the 2nd quarter. Mather Group LLC. now owns 100 shares of the company’s stock worth $31,000 after buying an additional 99 shares during the last quarter. Finally, FinTrust Capital Advisors LLC lifted its stake in Spotify Technology by 400.0% during the 1st quarter. FinTrust Capital Advisors LLC now owns 125 shares of the company’s stock valued at $33,000 after acquiring an additional 100 shares during the period. 84.09% of the stock is owned by institutional investors.

Spotify Technology Stock Performance

Shares of NYSE SPOT opened at $371.67 on Thursday. The company has a market cap of $70.69 billion, a P/E ratio of -554.73 and a beta of 1.58. Spotify Technology S.A. has a 52-week low of $145.76 and a 52-week high of $389.23. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.56 and a current ratio of 1.56. The firm’s fifty day moving average is $351.22 and its two-hundred day moving average is $321.62.

Spotify Technology (NYSE:SPOT – Get Free Report) last issued its earnings results on Tuesday, July 23rd. The company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.25. Spotify Technology had a return on equity of 15.23% and a net margin of 3.22%. The firm had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.82 billion. During the same period in the previous year, the firm posted ($1.69) earnings per share. The business’s revenue was up 19.8% compared to the same quarter last year. As a group, analysts anticipate that Spotify Technology S.A. will post 6.24 EPS for the current fiscal year.

Analyst Ratings Changes

SPOT has been the subject of a number of research analyst reports. UBS Group lifted their price target on shares of Spotify Technology from $375.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. JPMorgan Chase & Co. boosted their target price on shares of Spotify Technology from $375.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Macquarie increased their price target on Spotify Technology from $345.00 to $395.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. TD Cowen lifted their price objective on Spotify Technology from $273.00 to $356.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Finally, Wolfe Research started coverage on Spotify Technology in a report on Friday, July 12th. They issued an “outperform” rating and a $390.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, Spotify Technology has an average rating of “Moderate Buy” and an average target price of $360.86.

Read Our Latest Report on Spotify Technology

Spotify Technology Profile

(Free Report)

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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