Spotify Technology $SPOT Shares Bought by Helios Capital Management PTE. Ltd.

Helios Capital Management PTE. Ltd. lifted its stake in shares of Spotify Technology (NYSE:SPOT) by 56.3% during the third quarter, Holdings Channel reports. The firm owned 7,500 shares of the company’s stock after buying an additional 2,700 shares during the period. Spotify Technology comprises about 3.6% of Helios Capital Management PTE. Ltd.’s holdings, making the stock its 13th largest position. Helios Capital Management PTE. Ltd.’s holdings in Spotify Technology were worth $5,235,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Knuff & Co LLC bought a new position in shares of Spotify Technology during the second quarter worth about $27,000. Heartwood Wealth Advisors LLC acquired a new position in Spotify Technology during the 3rd quarter valued at about $27,000. Total Investment Management Inc. acquired a new position in Spotify Technology during the 2nd quarter valued at about $29,000. Sound Income Strategies LLC grew its position in Spotify Technology by 156.3% in the 2nd quarter. Sound Income Strategies LLC now owns 41 shares of the company’s stock worth $31,000 after purchasing an additional 25 shares during the last quarter. Finally, Albion Financial Group UT increased its stake in shares of Spotify Technology by 80.0% in the third quarter. Albion Financial Group UT now owns 45 shares of the company’s stock valued at $31,000 after purchasing an additional 20 shares during the period. 84.09% of the stock is owned by institutional investors and hedge funds.

Spotify Technology Trading Down 2.6%

NYSE:SPOT opened at $539.15 on Monday. The company has a 50-day moving average of $593.15 and a 200-day moving average of $659.44. The firm has a market cap of $111.01 billion, a price-to-earnings ratio of 84.77, a price-to-earnings-growth ratio of 0.97 and a beta of 1.66. Spotify Technology has a twelve month low of $451.43 and a twelve month high of $785.00.

Spotify Technology (NYSE:SPOT) last released its earnings results on Tuesday, November 4th. The company reported $3.83 EPS for the quarter, beating the consensus estimate of $1.87 by $1.96. The business had revenue of $5.01 billion during the quarter, compared to analyst estimates of $4.23 billion. Spotify Technology had a net margin of 8.46% and a return on equity of 21.68%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.45 earnings per share. On average, research analysts forecast that Spotify Technology will post 10.3 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SPOT shares. Benchmark boosted their price objective on Spotify Technology from $800.00 to $860.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Guggenheim cut their target price on Spotify Technology from $800.00 to $750.00 and set a “buy” rating on the stock in a research note on Thursday. Weiss Ratings reissued a “hold (c+)” rating on shares of Spotify Technology in a research note on Monday, December 29th. DZ Bank raised Spotify Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. Finally, Rosenblatt Securities decreased their target price on shares of Spotify Technology from $700.00 to $670.00 and set a “neutral” rating for the company in a research report on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, Spotify Technology presently has a consensus rating of “Moderate Buy” and an average price target of $754.90.

Spotify Technology Profile

Spotify Technology is a digital audio streaming company best known for its on-demand music service and a growing portfolio of spoken-word content. Founded in Sweden in 2006 by Daniel Ek and Martin Lorentzon and launched commercially in 2008, the company offers a cross-platform app that enables users to discover, stream and organize music, podcasts and other audio. Its primary consumer products include a free, ad-supported tier and a paid Spotify Premium subscription that provides ad-free listening, offline playback and higher-quality audio streams.