Integrated Advisors Network LLC Boosts Holdings in Spotify Technology S.A. (NYSE:SPOT)

Integrated Advisors Network LLC boosted its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 7.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,716 shares of the company’s stock after buying an additional 189 shares during the quarter. Integrated Advisors Network LLC’s holdings in Spotify Technology were worth $1,001,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. GQG Partners LLC purchased a new stake in shares of Spotify Technology during the first quarter valued at $610,040,000. Swedbank AB purchased a new stake in shares of Spotify Technology during the first quarter valued at $198,663,000. International Assets Investment Management LLC boosted its stake in shares of Spotify Technology by 36,910.0% during the third quarter. International Assets Investment Management LLC now owns 347,524 shares of the company’s stock valued at $128,073,000 after purchasing an additional 346,585 shares during the period. Sei Investments Co. boosted its stake in shares of Spotify Technology by 106.8% during the second quarter. Sei Investments Co. now owns 646,380 shares of the company’s stock valued at $202,828,000 after purchasing an additional 333,782 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Spotify Technology by 179.0% during the third quarter. Assenagon Asset Management S.A. now owns 380,214 shares of the company’s stock valued at $140,120,000 after purchasing an additional 243,933 shares during the period. 84.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on SPOT. Barclays lifted their price objective on Spotify Technology from $350.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Wells Fargo & Company lifted their price objective on Spotify Technology from $420.00 to $470.00 and gave the company an “overweight” rating in a report on Monday. Pivotal Research lifted their price objective on Spotify Technology from $460.00 to $510.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Benchmark restated a “buy” rating and issued a $405.00 price objective on shares of Spotify Technology in a report on Monday, July 22nd. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $340.00 price objective on shares of Spotify Technology in a report on Monday, October 7th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $376.21.

Spotify Technology Price Performance

Shares of SPOT stock opened at $393.73 on Thursday. Spotify Technology S.A. has a fifty-two week low of $161.39 and a fifty-two week high of $397.20. The firm has a market capitalization of $74.89 billion, a price-to-earnings ratio of -587.66 and a beta of 1.58. 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 stock’s 50-day simple moving average is $359.73 and its 200-day simple moving average is $327.72.

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.