Kera Capital Partners Inc. Grows Holdings in Spotify Technology $SPOT

Kera Capital Partners Inc. lifted its stake in shares of Spotify Technology (NYSE:SPOT) by 1,911.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,255 shares of the company’s stock after buying an additional 5,944 shares during the quarter. Kera Capital Partners Inc.’s holdings in Spotify Technology were worth $4,366,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of SPOT. Helios Capital Management PTE. Ltd. grew its holdings in shares of Spotify Technology by 56.3% in the 3rd quarter. Helios Capital Management PTE. Ltd. now owns 7,500 shares of the company’s stock worth $5,235,000 after purchasing an additional 2,700 shares during the last quarter. Sapient Capital LLC acquired a new position in shares of Spotify Technology in the 2nd quarter worth approximately $322,000. Generali Asset Management SPA SGR boosted its holdings in shares of Spotify Technology by 30.9% in the 3rd quarter. Generali Asset Management SPA SGR now owns 68,023 shares of the company’s stock worth $46,692,000 after acquiring an additional 16,054 shares in the last quarter. Cynosure Group LLC bought a new stake in Spotify Technology during the 3rd quarter worth approximately $2,862,000. Finally, Legacy Capital Group California Inc. increased its holdings in Spotify Technology by 110.9% during the 2nd quarter. Legacy Capital Group California Inc. now owns 3,896 shares of the company’s stock valued at $2,990,000 after purchasing an additional 2,049 shares in the last quarter. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Price Performance

Shares of SPOT stock opened at $535.65 on Wednesday. The company has a fifty day moving average price of $589.01 and a two-hundred day moving average price of $656.04. The stock has a market cap of $110.29 billion, a P/E ratio of 84.22, a P/E/G ratio of 0.95 and a beta of 1.66. Spotify Technology has a one year low of $460.33 and a one year high of $785.00.

Spotify Technology (NYSE:SPOT) last posted its earnings results on Tuesday, November 4th. The company reported $3.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $1.96. The business had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.23 billion. Spotify Technology had a return on equity of 21.68% and a net margin of 8.46%.The firm’s revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.45 EPS. As a group, equities research analysts anticipate that Spotify Technology will post 10.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SPOT shares. Phillip Securities raised shares of Spotify Technology from a “hold” rating to a “moderate buy” rating in a research note on Monday, November 10th. Wall Street Zen raised Spotify Technology from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Guggenheim cut their price objective on Spotify Technology from $800.00 to $750.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. BNP Paribas Exane initiated coverage on shares of Spotify Technology in a report on Tuesday, September 16th. They issued an “outperform” rating and a $900.00 price target for the company. Finally, JPMorgan Chase & Co. raised their price objective on shares of Spotify Technology from $740.00 to $805.00 and gave the stock an “overweight” rating in a report on Monday, September 29th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, Spotify Technology has a consensus rating of “Moderate Buy” and a consensus target price of $753.57.

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.