PFG Investments LLC Sells 145 Shares of Spotify Technology S.A. (NYSE:SPOT)

PFG Investments LLC lessened its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 10.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,188 shares of the company’s stock after selling 145 shares during the period. PFG Investments LLC’s holdings in Spotify Technology were worth $438,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. GQG Partners LLC acquired a new position in shares of Spotify Technology during the 1st quarter worth about $610,040,000. Swedbank AB bought a new position in Spotify Technology during the first quarter worth about $198,663,000. International Assets Investment Management LLC increased its position in 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 worth $128,073,000 after buying an additional 346,585 shares during the last quarter. Sei Investments Co. raised its stake in Spotify Technology by 106.8% in the second quarter. Sei Investments Co. now owns 646,380 shares of the company’s stock valued at $202,828,000 after buying an additional 333,782 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in shares of Spotify Technology by 179.0% in the third quarter. Assenagon Asset Management S.A. now owns 380,214 shares of the company’s stock valued at $140,120,000 after buying an additional 243,933 shares during the last quarter. 84.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SPOT has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price target on Spotify Technology from $420.00 to $470.00 and gave the company an “overweight” rating in a research note on Monday. TD Cowen raised their target price on shares of Spotify Technology from $273.00 to $356.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Evercore ISI lifted their target price on shares of Spotify Technology from $420.00 to $460.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Macquarie increased their price target on shares of Spotify Technology from $345.00 to $395.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Finally, Rosenblatt Securities boosted their price objective on Spotify Technology from $399.00 to $438.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. One equities research 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $376.21.

Spotify Technology Price Performance

Spotify Technology stock opened at $391.20 on Wednesday. The stock has a fifty day moving average of $358.73 and a 200-day moving average of $327.25. The stock has a market capitalization of $74.41 billion, a P/E ratio of -583.88 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. Spotify Technology S.A. has a 52 week low of $159.75 and a 52 week high of $397.20.

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.