WINTON GROUP Ltd Has $13.70 Million Stock Position in Spotify Technology $SPOT

WINTON GROUP Ltd boosted its holdings in shares of Spotify Technology (NYSE:SPOT) by 232.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 19,625 shares of the company’s stock after acquiring an additional 13,720 shares during the quarter. WINTON GROUP Ltd’s holdings in Spotify Technology were worth $13,698,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Spotify Technology in the second quarter valued at approximately $768,915,000. Principal Financial Group Inc. raised its stake in Spotify Technology by 3,534.9% in the 3rd quarter. Principal Financial Group Inc. now owns 571,474 shares of the company’s stock valued at $398,889,000 after acquiring an additional 555,752 shares during the period. Fisher Asset Management LLC lifted its holdings in Spotify Technology by 22.7% during the 2nd quarter. Fisher Asset Management LLC now owns 2,489,013 shares of the company’s stock valued at $1,909,920,000 after purchasing an additional 460,115 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Spotify Technology by 41.8% during the 2nd quarter. Franklin Resources Inc. now owns 1,131,099 shares of the company’s stock valued at $867,937,000 after purchasing an additional 333,537 shares during the last quarter. Finally, Brown Advisory Inc. boosted its position in Spotify Technology by 931.2% during the second quarter. Brown Advisory Inc. now owns 362,853 shares of the company’s stock worth $278,456,000 after purchasing an additional 327,667 shares during the period. Institutional investors own 84.09% of the company’s stock.

Analyst Upgrades and Downgrades

SPOT has been the topic of several research analyst reports. KeyCorp dropped their price objective on shares of Spotify Technology from $830.00 to $720.00 and set an “overweight” rating on the stock in a research report on Monday, February 9th. Weiss Ratings downgraded shares of Spotify Technology from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, February 26th. Cantor Fitzgerald decreased their price target on shares of Spotify Technology from $615.00 to $525.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 11th. Guggenheim lowered their price target on shares of Spotify Technology from $720.00 to $600.00 and set a “buy” rating on the stock in a report on Tuesday, February 24th. Finally, Citizens Jmp initiated coverage on shares of Spotify Technology in a research report on Wednesday, December 17th. They set a “market outperform” rating and a $800.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $698.91.

Spotify Technology Price Performance

Spotify Technology stock opened at $566.73 on Monday. The firm has a market cap of $116.68 billion, a PE ratio of 58.79, a price-to-earnings-growth ratio of 1.23 and a beta of 1.66. The stock’s fifty day moving average price is $507.95 and its two-hundred day moving average price is $600.68. Spotify Technology has a one year low of $405.00 and a one year high of $785.00.

Spotify Technology (NYSE:SPOT) last released its earnings results on Tuesday, February 10th. The company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $3.16 by $2.00. The firm had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.14 billion. Spotify Technology had a return on equity of 31.35% and a net margin of 13.16%.The company’s revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.88 EPS. Sell-side analysts expect that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

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.