Farther Finance Advisors LLC Boosts Stock Position in Spotify Technology S.A. (NYSE:SPOT)

Farther Finance Advisors LLC raised its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 13.4% in the 3rd quarter, Holdings Channel reports. The fund owned 2,332 shares of the company’s stock after acquiring an additional 276 shares during the quarter. Farther Finance Advisors LLC’s holdings in Spotify Technology were worth $860,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC raised its stake in Spotify Technology by 86.0% during the 1st quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock valued at $25,000 after acquiring an additional 43 shares during the last quarter. Transcendent Capital Group LLC acquired a new position in Spotify Technology during the 2nd quarter worth approximately $25,000. Benjamin Edwards Inc. increased its position 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 purchasing an additional 58 shares during the period. Mather Group LLC. lifted its holdings in shares of 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 buying an additional 99 shares during the period. Finally, Asset Dedication LLC acquired a new stake in shares of Spotify Technology in the 2nd quarter valued at approximately $35,000. 84.09% of the stock is owned by hedge funds and other institutional investors.

Spotify Technology Price Performance

SPOT stock opened at $377.73 on Tuesday. Spotify Technology S.A. has a 52-week low of $164.83 and a 52-week high of $397.20. The stock’s fifty day simple moving average is $362.26 and its 200-day simple moving average is $329.85. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $75.19 billion, a price-to-earnings ratio of 154.18 and a beta of 1.56.

Analysts Set New Price Targets

SPOT has been the subject of several recent analyst reports. Jefferies Financial Group reissued a “buy” rating and issued a $385.00 price target (up from $242.00) on shares of Spotify Technology in a report on Thursday, July 11th. Barclays raised their price target on Spotify Technology from $350.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Wolfe Research initiated coverage on Spotify Technology in a report on Friday, July 12th. They issued an “outperform” rating and a $390.00 price target for the company. Benchmark reissued a “buy” rating and issued a $405.00 price target on shares of Spotify Technology in a report on Monday, July 22nd. Finally, DZ Bank raised Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 price target for the company in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $376.21.

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.