Global Retirement Partners LLC boosted its position in Spotify Technology S.A. (NYSE:SPOT – Free Report) by 5.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,940 shares of the company’s stock after buying an additional 214 shares during the quarter. Global Retirement Partners LLC’s holdings in Spotify Technology were worth $1,452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently made changes to their positions in SPOT. Clearbridge Investments LLC increased its holdings in Spotify Technology by 0.6% in the 1st quarter. Clearbridge Investments LLC now owns 6,892 shares of the company’s stock worth $1,819,000 after acquiring an additional 38 shares during the last quarter. Cigna Investments Inc. New increased its stake in shares of Spotify Technology by 3.3% in the second quarter. Cigna Investments Inc. New now owns 1,260 shares of the company’s stock worth $395,000 after purchasing an additional 40 shares in the last quarter. Moody Lynn & Lieberson LLC raised its position in shares of Spotify Technology by 0.6% in the second quarter. Moody Lynn & Lieberson LLC now owns 6,843 shares of the company’s stock valued at $2,147,000 after purchasing an additional 40 shares during the period. Larson Financial Group LLC raised its position in shares of Spotify Technology by 86.0% in the first quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock valued at $25,000 after purchasing an additional 43 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in Spotify Technology by 4.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 981 shares of the company’s stock worth $337,000 after buying an additional 43 shares during the period. 84.09% of the stock is currently owned by institutional investors.
Spotify Technology Trading Up 3.3 %
SPOT opened at $378.81 on Friday. The firm has a market capitalization of $75.40 billion, a price-to-earnings ratio of 154.62 and a beta of 1.58. Spotify Technology S.A. has a one year low of $145.76 and a one year high of $389.23. The business has a 50 day simple moving average of $352.57 and a two-hundred day simple moving average of $322.71. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.56 and a quick ratio of 1.56.
Analysts Set New Price Targets
A number of brokerages have issued reports on SPOT. Bank of America boosted their target price on shares of Spotify Technology from $370.00 to $380.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. DZ Bank raised Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 price objective on the stock in a report on Wednesday, July 24th. Evercore ISI lifted their target price on Spotify Technology from $420.00 to $460.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Barclays upped their price target on Spotify Technology from $350.00 to $360.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, The Goldman Sachs Group upgraded shares of Spotify Technology from a “neutral” rating to a “buy” rating and raised their price objective for the company from $320.00 to $425.00 in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat.com, Spotify Technology currently has an average rating of “Moderate Buy” and a consensus price target of $362.21.
Get Our Latest Research Report on Spotify Technology
Spotify Technology 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.
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