Raymond James & Associates lifted its stake in Spotify Technology S.A. (NYSE:SPOT – Free Report) by 25.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 37,807 shares of the company’s stock after purchasing an additional 7,777 shares during the quarter. Raymond James & Associates’ holdings in Spotify Technology were worth $13,933,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. First Citizens Bank & Trust Co. acquired a new stake in Spotify Technology during the third quarter worth $397,000. Blue Trust Inc. boosted its position in shares of Spotify Technology by 705.0% during the third quarter. Blue Trust Inc. now owns 1,457 shares of the company’s stock worth $537,000 after buying an additional 1,276 shares during the period. Generate Investment Management Ltd boosted its position in shares of Spotify Technology by 9.6% during the third quarter. Generate Investment Management Ltd now owns 43,864 shares of the company’s stock worth $16,165,000 after buying an additional 3,826 shares during the period. Accurate Wealth Management LLC boosted its position in shares of Spotify Technology by 4.7% during the third quarter. Accurate Wealth Management LLC now owns 1,829 shares of the company’s stock worth $681,000 after buying an additional 82 shares during the period. Finally, Aaron Wealth Advisors LLC purchased a new position in shares of Spotify Technology during the third quarter worth $223,000. Institutional investors and hedge funds own 84.09% of the company’s stock.
Spotify Technology Stock Up 0.6 %
SPOT opened at $379.16 on Monday. The business’s 50-day simple moving average is $357.03 and its 200-day simple moving average is $326.04. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.56 and a current ratio of 1.56. Spotify Technology S.A. has a one year low of $155.00 and a one year high of $389.48. The stock has a market capitalization of $72.12 billion, a P/E ratio of -565.91 and a beta of 1.58.
Wall Street Analysts Forecast Growth
Read Our Latest Research Report 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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