Marsico Capital Management LLC Purchases 2,701 Shares of Spotify Technology S.A. (NYSE:SPOT)

Marsico Capital Management LLC increased its position in Spotify Technology S.A. (NYSE:SPOT) by 1.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 164,911 shares of the company’s stock after purchasing an additional 2,701 shares during the quarter. Spotify Technology makes up 1.5% of Marsico Capital Management LLC’s holdings, making the stock its 21st largest position. Marsico Capital Management LLC owned about 0.09% of Spotify Technology worth $51,747,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Clearbridge Investments LLC increased its holdings in Spotify Technology by 0.6% in the 1st quarter. Clearbridge Investments LLC now owns 6,892 shares of the company’s stock worth $1,819,000 after purchasing an additional 38 shares in the last quarter. Cigna Investments Inc. New boosted its holdings in shares of Spotify Technology by 3.3% during the 2nd quarter. Cigna Investments Inc. New now owns 1,260 shares of the company’s stock worth $395,000 after buying an additional 40 shares in the last quarter. Moody Lynn & Lieberson LLC increased its stake in Spotify Technology by 0.6% in the second quarter. Moody Lynn & Lieberson LLC now owns 6,843 shares of the company’s stock valued at $2,147,000 after purchasing an additional 40 shares in the last quarter. Larson Financial Group LLC raised its stake in Spotify Technology by 86.0% during the 1st quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock worth $25,000 after buying an additional 43 shares during the period. Finally, Brookstone Capital Management raised its position in shares of Spotify Technology by 4.6% during the second quarter. Brookstone Capital Management now owns 1,339 shares of the company’s stock worth $395,000 after purchasing an additional 59 shares during the period. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Price Performance

Shares of NYSE:SPOT opened at $342.10 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.56 and a current ratio of 1.56. Spotify Technology S.A. has a one year low of $145.76 and a one year high of $359.38. The business’s fifty day moving average price is $328.27 and its two-hundred day moving average price is $305.81. The stock has a market cap of $65.07 billion, a PE ratio of -510.60 and a beta of 1.57.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.25. The business had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.82 billion. Spotify Technology had a net margin of 3.22% and a return on equity of 15.23%. The company’s revenue was up 19.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.69) EPS. On average, analysts forecast that Spotify Technology S.A. will post 6.31 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on SPOT. JPMorgan Chase & Co. increased their target price on shares of Spotify Technology from $375.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Bank of America raised their price target on shares of Spotify Technology from $370.00 to $380.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Jefferies Financial Group reiterated a “buy” rating and set a $385.00 price target (up previously from $242.00) on shares of Spotify Technology in a research note on Thursday, July 11th. Redburn Atlantic reaffirmed a “sell” rating and issued a $230.00 price objective on shares of Spotify Technology in a report on Wednesday, July 10th. Finally, DZ Bank upgraded Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 price target on the stock in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $357.41.

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.