TD Asset Management Inc Has $108.52 Million Stock Position in Spotify Technology S.A. (NYSE:SPOT)

TD Asset Management Inc reduced its holdings in Spotify Technology S.A. (NYSE:SPOT) by 32.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 345,827 shares of the company’s stock after selling 167,014 shares during the quarter. TD Asset Management Inc owned approximately 0.17% of Spotify Technology worth $108,517,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FDx Advisors Inc. bought a new stake in shares of Spotify Technology in the 2nd quarter valued at $569,000. Jackson Creek Investment Advisors LLC bought a new stake in shares of Spotify Technology in the 2nd quarter valued at $245,000. Generate Investment Management Ltd boosted its stake in shares of Spotify Technology by 14.3% in the 2nd quarter. Generate Investment Management Ltd now owns 40,038 shares of the company’s stock valued at $12,564,000 after purchasing an additional 5,012 shares during the last quarter. Natixis Advisors LLC boosted its stake in shares of Spotify Technology by 218.8% in the 2nd quarter. Natixis Advisors LLC now owns 84,354 shares of the company’s stock valued at $26,469,000 after purchasing an additional 57,897 shares during the last quarter. Finally, Equitable Trust Co. bought a new stake in shares of Spotify Technology in the 2nd quarter valued at $2,703,000. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on SPOT shares. Benchmark reissued a “buy” rating and set a $405.00 target price on shares of Spotify Technology in a research note on Monday, July 22nd. Bank of America increased their target price 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. Pivotal Research increased their target price on shares of Spotify Technology from $400.00 to $460.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. UBS Group increased their target price on shares of Spotify Technology from $375.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Finally, Macquarie increased their target price on shares of Spotify Technology from $345.00 to $395.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $356.38.

Spotify Technology Stock Performance

NYSE SPOT opened at $328.76 on Friday. Spotify Technology S.A. has a 52-week low of $145.76 and a 52-week high of $359.38. The company has a 50-day simple moving average of $325.25 and a 200 day simple moving average of $300.54. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.56 and a current ratio of 1.56. The company has a market capitalization of $62.53 billion, a PE ratio of -490.69 and a beta of 1.59.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.25. Spotify Technology had a net margin of 3.22% and a return on equity of 15.23%. The business had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter last year, the company posted ($1.69) earnings per share. The firm’s quarterly revenue was up 19.8% compared to the same quarter last year. On average, research analysts predict that Spotify Technology S.A. will post 6.37 EPS for the current year.

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.