Janus Henderson Group PLC Acquires 64,847 Shares of Spotify (NASDAQ:SPOT)

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Janus Henderson Group PLC boosted its position in shares of Spotify (NASDAQ:SPOT) by 14.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 514,325 shares of the company’s stock after purchasing an additional 64,847 shares during the quarter. Janus Henderson Group PLC owned about 0.28% of Spotify worth $74,953,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Cowen Prime Services LLC acquired a new position in shares of Spotify in the 2nd quarter valued at approximately $29,000. AdvisorNet Financial Inc grew its position in shares of Spotify by 148.9% in the 2nd quarter. AdvisorNet Financial Inc now owns 224 shares of the company’s stock valued at $33,000 after purchasing an additional 134 shares during the period. Meridian Wealth Management LLC acquired a new position in shares of Spotify in the 2nd quarter valued at approximately $36,000. Catalyst Capital Advisors LLC grew its position in shares of Spotify by 86.8% in the 1st quarter. Catalyst Capital Advisors LLC now owns 269 shares of the company’s stock valued at $37,000 after purchasing an additional 125 shares during the period. Finally, Flagship Harbor Advisors LLC grew its position in shares of Spotify by 40.7% in the 1st quarter. Flagship Harbor Advisors LLC now owns 280 shares of the company’s stock valued at $38,000 after purchasing an additional 81 shares during the period.

Shares of NASDAQ SPOT traded up $0.38 during trading hours on Friday, hitting $136.06. The company had a trading volume of 890,585 shares, compared to its average volume of 1,557,024. Spotify has a 1-year low of $103.29 and a 1-year high of $187.35. The firm’s 50 day moving average is $146.31 and its 200-day moving average is $141.78.

Spotify (NASDAQ:SPOT) last posted its quarterly earnings results on Wednesday, July 31st. The company reported ($0.47) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.04. The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter last year, the company posted ($2.20) EPS. The firm’s revenue was up 31.0% on a year-over-year basis.

Several equities analysts recently issued reports on the company. SunTrust Banks boosted their price objective on Spotify to $172.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Raymond James boosted their price objective on Spotify from $172.00 to $180.00 and gave the company a “strong-buy” rating in a research report on Thursday, July 25th. Loop Capital upgraded Spotify from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Pivotal Research reaffirmed a “hold” rating and set a $150.00 price target (down previously from $155.00) on shares of Spotify in a research report on Wednesday, July 31st. Finally, Zacks Investment Research downgraded Spotify from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $164.73.

Spotify Company Profile

Spotify Technology SA is an innovative digital music service offering music fans instant access to a world of music. The company enables on-demand streaming of audio content and aim to combat music piracy by offering a user experience, while monetizing licensed content with both an ad-supported, free-to-the-user model and a premium, paid model.

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Institutional Ownership by Quarter for Spotify (NASDAQ:SPOT)

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