Marcho Partners LLP Has $21.52 Million Position in Spotify Technology S.A. (NYSE:SPOT)

Marcho Partners LLP lowered its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 37.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 58,398 shares of the company’s stock after selling 35,432 shares during the quarter. Spotify Technology makes up about 5.7% of Marcho Partners LLP’s investment portfolio, making the stock its 8th largest position. Marcho Partners LLP’s holdings in Spotify Technology were worth $21,521,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in SPOT. Transcendent Capital Group LLC acquired a new position in Spotify Technology in the second quarter valued at approximately $25,000. Benjamin Edwards Inc. lifted its stake in Spotify Technology by 214.8% in the second quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock valued at $27,000 after buying an additional 58 shares during the period. Larson Financial Group LLC boosted its holdings in Spotify Technology by 51.6% during the third quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock worth $36,000 after buying an additional 33 shares during the last quarter. Mather Group LLC. increased its stake in shares of Spotify Technology by 9,900.0% in the 2nd quarter. Mather Group LLC. now owns 100 shares of the company’s stock valued at $31,000 after acquiring an additional 99 shares during the last quarter. Finally, V Square Quantitative Management LLC acquired a new stake in shares of Spotify Technology in the 3rd quarter valued at approximately $40,000. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SPOT has been the subject of several recent analyst reports. Piper Sandler raised their price target on Spotify Technology from $330.00 to $450.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group boosted their price objective on shares of Spotify Technology from $430.00 to $490.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. increased their target price on Spotify Technology from $425.00 to $530.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Rosenblatt Securities boosted their price target on Spotify Technology from $399.00 to $438.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $422.90.

Spotify Technology Stock Performance

NYSE:SPOT opened at $493.32 on Wednesday. The firm has a market cap of $98.20 billion, a price-to-earnings ratio of 134.05 and a beta of 1.61. Spotify Technology S.A. has a 52 week low of $185.37 and a 52 week high of $494.00. The firm’s 50-day simple moving average is $408.78 and its 200 day simple moving average is $353.61.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($0.30). The company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.03 billion. Spotify Technology had a net margin of 4.66% and a return on equity of 19.07%. The company’s quarterly revenue was up 18.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.36 earnings per share. Sell-side analysts anticipate that Spotify Technology S.A. will post 6.02 EPS for the current year.

Spotify Technology Company Profile

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.