Deutsche Bank AG Acquires 255,432 Shares of Spotify Technology (NYSE:SPOT)

Deutsche Bank AG raised its holdings in Spotify Technology (NYSE:SPOT) by 26.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,207,847 shares of the company’s stock after buying an additional 255,432 shares during the quarter. Deutsche Bank AG owned 0.59% of Spotify Technology worth $664,352,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Jennison Associates LLC lifted its stake in shares of Spotify Technology by 42.3% in the first quarter. Jennison Associates LLC now owns 4,247,940 shares of the company’s stock valued at $2,336,494,000 after buying an additional 1,262,614 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Spotify Technology by 3.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,526,988 shares of the company’s stock valued at $1,939,949,000 after acquiring an additional 112,553 shares during the period. Goldman Sachs Group Inc. raised its holdings in Spotify Technology by 1,151.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,740,803 shares of the company’s stock valued at $957,494,000 after acquiring an additional 1,601,653 shares in the last quarter. Northern Trust Corp raised its holdings in Spotify Technology by 103.7% in the 4th quarter. Northern Trust Corp now owns 1,426,902 shares of the company’s stock valued at $638,367,000 after acquiring an additional 726,245 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of Spotify Technology by 325.9% in the 4th quarter. Janus Henderson Group PLC now owns 1,125,465 shares of the company’s stock worth $503,316,000 after acquiring an additional 861,232 shares during the period. 84.09% of the stock is owned by institutional investors.

Spotify Technology Stock Performance

Shares of Spotify Technology stock opened at $666.91 on Thursday. Spotify Technology has a 52-week low of $319.07 and a 52-week high of $785.00. The stock has a market cap of $136.52 billion, a PE ratio of 161.87, a PEG ratio of 2.80 and a beta of 1.69. The firm has a 50-day moving average of $700.75 and a 200-day moving average of $627.08.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings results on Tuesday, July 29th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of $2.00 by ($2.42). The company had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $4.29 billion. Spotify Technology had a return on equity of 13.67% and a net margin of 4.76%. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.33 EPS. Equities research analysts predict that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

SPOT has been the subject of several recent research reports. DZ Bank raised shares of Spotify Technology from a “sell” rating to a “hold” rating and set a $652.00 price target for the company in a research report on Wednesday, July 30th. Sanford C. Bernstein increased their target price on Spotify Technology from $825.00 to $840.00 and gave the stock an “outperform” rating in a report on Tuesday, July 8th. Canaccord Genuity Group boosted their price target on Spotify Technology from $775.00 to $850.00 and gave the company a “buy” rating in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. increased their price objective on Spotify Technology from $730.00 to $780.00 and gave the stock an “overweight” rating in a research note on Friday, July 11th. Finally, UBS Group reduced their target price on shares of Spotify Technology from $895.00 to $850.00 and set a “buy” rating on the stock in a research note on Wednesday, July 30th. Ten research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $718.90.

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.