Macquarie Group Ltd. Has $3.20 Million Holdings in Spotify Technology S.A. (NYSE:SPOT)

Macquarie Group Ltd. grew its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 5.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,933 shares of the company’s stock after acquiring an additional 1,304 shares during the period. Macquarie Group Ltd.’s holdings in Spotify Technology were worth $3,198,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of SPOT. Cetera Advisor Networks LLC raised its position in shares of Spotify Technology by 142.4% in the first quarter. Cetera Advisor Networks LLC now owns 3,071 shares of the company’s stock valued at $464,000 after buying an additional 1,804 shares in the last quarter. Private Advisor Group LLC raised its position in shares of Spotify Technology by 19.8% in the first quarter. Private Advisor Group LLC now owns 4,909 shares of the company’s stock valued at $741,000 after buying an additional 811 shares in the last quarter. BlackRock Inc. raised its position in shares of Spotify Technology by 6.3% in the first quarter. BlackRock Inc. now owns 4,046,153 shares of the company’s stock valued at $611,049,000 after buying an additional 241,026 shares in the last quarter. Cibc World Market Inc. raised its position in shares of Spotify Technology by 22.4% in the first quarter. Cibc World Market Inc. now owns 4,823 shares of the company’s stock valued at $728,000 after buying an additional 883 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Spotify Technology by 68.6% in the first quarter. Dimensional Fund Advisors LP now owns 190,255 shares of the company’s stock valued at $28,735,000 after buying an additional 77,379 shares in the last quarter. 56.89% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Trading Up 0.4 %

Shares of SPOT opened at $159.24 on Tuesday. The stock has a market capitalization of $31.00 billion, a P/E ratio of -29.76 and a beta of 1.73. The firm’s fifty day simple moving average is $151.16 and its two-hundred day simple moving average is $144.89. Spotify Technology S.A. has a 12 month low of $69.29 and a 12 month high of $182.00.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings results on Tuesday, July 25th. The company reported ($1.69) EPS for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.89). The firm had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.54 billion. Spotify Technology had a negative net margin of 7.79% and a negative return on equity of 42.48%. As a group, research analysts predict that Spotify Technology S.A. will post -3.12 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on SPOT. Wells Fargo & Company boosted their price objective on shares of Spotify Technology from $180.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, July 14th. Barclays boosted their price objective on shares of Spotify Technology from $180.00 to $182.00 and gave the company an “overweight” rating in a research report on Tuesday, July 25th. JPMorgan Chase & Co. boosted their price objective on shares of Spotify Technology from $160.00 to $190.00 in a research report on Wednesday, July 19th. Benchmark boosted their price objective on shares of Spotify Technology from $160.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, July 20th. Finally, Rosenblatt Securities boosted their price objective on shares of Spotify Technology from $141.00 to $150.00 and gave the company a “neutral” rating in a research report on Wednesday, July 26th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $166.00.

About Spotify Technology

Spotify Technology SA, together with its subsidiaries, provides audio streaming 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.