Ballentine Partners LLC Buys Shares of 649 Spotify Technology S.A. (NYSE:SPOT)

Ballentine Partners LLC bought a new stake in Spotify Technology S.A. (NYSE:SPOT) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 649 shares of the company’s stock, valued at approximately $239,000.

Several other large investors have also recently bought and sold shares of the company. Larson Financial Group LLC boosted its holdings in Spotify Technology by 86.0% during the first quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock worth $25,000 after purchasing an additional 43 shares during the last quarter. Transcendent Capital Group LLC bought a new position in shares of Spotify Technology in the 2nd quarter valued at about $25,000. Benjamin Edwards Inc. grew its position in shares of Spotify Technology by 214.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock valued at $27,000 after acquiring an additional 58 shares during the period. Mather Group LLC. boosted its holdings in shares of Spotify Technology by 9,900.0% during the 2nd quarter. Mather Group LLC. now owns 100 shares of the company’s stock worth $31,000 after buying an additional 99 shares during the period. Finally, FinTrust Capital Advisors LLC boosted its holdings in shares of Spotify Technology by 400.0% during the 1st quarter. FinTrust Capital Advisors LLC now owns 125 shares of the company’s stock worth $33,000 after buying an additional 100 shares during the period. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Performance

Shares of SPOT stock opened at $391.20 on Wednesday. Spotify Technology S.A. has a 12 month low of $159.75 and a 12 month high of $397.20. The stock has a market cap of $74.41 billion, a PE ratio of -583.88 and a beta of 1.58. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.31. The company’s fifty day moving average price is $358.73 and its 200-day moving average price is $327.25.

Analyst Upgrades and Downgrades

SPOT has been the subject of several analyst reports. The Goldman Sachs Group upgraded shares of Spotify Technology from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $320.00 to $425.00 in a research note on Wednesday, July 24th. Redburn Atlantic reiterated a “sell” rating and set a $230.00 price objective on shares of Spotify Technology in a research report on Wednesday, July 10th. TD Cowen boosted their target price on shares of Spotify Technology from $273.00 to $356.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. DZ Bank raised shares of Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 price objective on the stock in a research note on Wednesday, July 24th. Finally, KeyCorp increased their target price on shares of Spotify Technology from $440.00 to $490.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat.com, Spotify Technology has an average rating of “Moderate Buy” and an average price target of $376.21.

Spotify Technology Company Profile

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.