&Partners acquired a new stake in Spotify Technology S.A. (NYSE:SPOT – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,360 shares of the company’s stock, valued at approximately $427,000.
A number of other large investors also recently bought and sold shares of the stock. GQG Partners LLC purchased a new stake in shares of Spotify Technology in the 1st quarter valued at approximately $610,040,000. Swedbank AB purchased a new stake in Spotify Technology in the first quarter valued at approximately $198,663,000. Norges Bank acquired a new position in Spotify Technology during the fourth quarter worth $92,429,000. 1832 Asset Management L.P. purchased a new position in shares of Spotify Technology during the fourth quarter worth $83,094,000. Finally, Envestnet Asset Management Inc. grew its stake in shares of Spotify Technology by 327.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 391,253 shares of the company’s stock valued at $73,520,000 after buying an additional 299,700 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.
Spotify Technology Trading Up 0.1 %
NYSE SPOT opened at $342.49 on Friday. Spotify Technology S.A. has a 12 month low of $133.69 and a 12 month high of $359.38. The company has a market capitalization of $68.17 billion, a price-to-earnings ratio of -511.17 and a beta of 1.59. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.56 and a quick ratio of 1.56. The firm’s fifty day moving average price is $321.38 and its 200 day moving average price is $294.98.
Wall Street Analyst Weigh In
Several research firms recently issued reports on SPOT. JPMorgan Chase & Co. increased their target price on Spotify Technology from $375.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Bank of America increased their price target on shares of Spotify Technology from $370.00 to $380.00 and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. Jefferies Financial Group reissued a “buy” rating and issued a $385.00 price objective (up previously from $242.00) on shares of Spotify Technology in a research note on Thursday, July 11th. KeyCorp upped their target price on shares of Spotify Technology from $400.00 to $410.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Finally, 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 report on Thursday, July 11th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $353.15.
Get Our Latest Stock Analysis on SPOT
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.
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