Billionaire George Soros Is Buying These 5 Stocks

1. Spotify Technology S.A. (NYSE:SPOT)

Number of Hedge Fund Holders: 48  

Percentage Increase in Stake During Q3: 215%  

Spotify Technology S.A. (NYSE:SPOT) provides audio streaming services. At the end of the third quarter of 2021, Soros Fund Management owned 31,500 shares in the company worth $7 million, representing 0.13% of the portfolio. 

On October 28, investment advisory KeyBanc maintained an Overweight rating on Spotify Technology S.A. (NYSE:SPOT) stock and raised the price target to $365 from $340, noting that ad-supported revenue and podcast trends for the firm were improving. 

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Tiger Global Management LLC is a leading shareholder in Spotify Technology S.A. (NYSE:SPOT) with 3.1 shares worth more than $870 million. 

In its Q4 2020 investor letter, Guardian Fund, an asset management firm, highlighted a few stocks and Spotify Technology S.A. (NYSE:SPOT) was one of them. Here is what the fund said:

“At the current share price, Spotify basically only represents a fraction of the value they will be able to unlock in the growing market of audio entertainment. The key for Spotify is to change a variable cost base into a fixed cost base just like Netflix has. As the market share of the big labels, measured by the daily hours of engagement of the big labels, is declining, Spotify will be able to adjust its business model and create enormous operational leverage meaning that profitability will grow faster than expenses.

The music catalogue is not the business model. The value lies in the machine learning that drives discovery and engagement, the original content from people like Michelle Obama, Kim Kardashian, and Joe Rogan, the data analytics and distribution for artists, the direct and social relations artists can have with fans through music and videos. We believe that Spotify will be worth at least five times more in 2030.”

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