Nisa Investment Advisors LLC Has $10.14 Million Position in Spotify Technology S.A. (NYSE:SPOT)

Nisa Investment Advisors LLC trimmed its position in Spotify Technology S.A. (NYSE:SPOT) by 4.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,504 shares of the company’s stock after selling 1,410 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Spotify Technology were worth $10,136,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC increased its holdings in shares of 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 period. Transcendent Capital Group LLC bought a new position in Spotify Technology during the 2nd quarter worth $25,000. Benjamin Edwards Inc. increased its stake in Spotify Technology by 214.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock worth $27,000 after acquiring an additional 58 shares during the period. Mather Group LLC. raised its holdings in Spotify Technology by 9,900.0% in the 2nd quarter. Mather Group LLC. now owns 100 shares of the company’s stock valued at $31,000 after acquiring an additional 99 shares in the last quarter. Finally, FinTrust Capital Advisors LLC lifted its position 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 valued at $33,000 after acquiring an additional 100 shares during the period. Institutional investors own 84.09% of the company’s stock.

Analyst Upgrades and Downgrades

SPOT has been the topic of a number of recent analyst reports. TD Cowen raised their price target on Spotify Technology from $273.00 to $356.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. Evercore ISI raised their target price on shares of Spotify Technology from $420.00 to $460.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Wells Fargo & Company upped their price target on shares of Spotify Technology from $420.00 to $470.00 and gave the stock an “overweight” rating in a report on Monday. 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, UBS Group upped their target price on Spotify Technology from $375.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. One investment 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. According to MarketBeat.com, Spotify Technology has an average rating of “Moderate Buy” and an average price target of $376.21.

Spotify Technology Price Performance

SPOT stock opened at $393.73 on Thursday. The company has a market capitalization of $74.89 billion, a P/E ratio of -587.66 and a beta of 1.58. The company has a fifty day moving average price of $359.73 and a 200-day moving average price of $327.72. 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 $161.39 and a 52-week high of $397.20.

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.