Symmetry Investments LP purchased a new stake in shares of Spotify Technology S.A. (NYSE:SPOT – Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 9,000 shares of the company’s stock, valued at approximately $2,824,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Larson Financial Group LLC boosted its stake in Spotify Technology by 86.0% during the first quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock valued at $25,000 after buying an additional 43 shares during the period. Transcendent Capital Group LLC purchased a new stake in shares of Spotify Technology in the 2nd quarter valued at about $25,000. Benjamin Edwards Inc. boosted its position in shares of Spotify Technology by 214.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock valued at $27,000 after acquiring an additional 58 shares during the last quarter. Mather Group LLC. grew its holdings in shares of Spotify Technology by 9,900.0% during the second quarter. Mather Group LLC. now owns 100 shares of the company’s stock worth $31,000 after purchasing an additional 99 shares in the last quarter. Finally, FinTrust Capital Advisors LLC increased its position in shares of Spotify Technology by 400.0% in the first quarter. FinTrust Capital Advisors LLC now owns 125 shares of the company’s stock worth $33,000 after purchasing an additional 100 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors.
Spotify Technology Price Performance
NYSE SPOT opened at $365.00 on Friday. The stock has a market capitalization of $72.65 billion, a price-to-earnings ratio of -544.77 and a beta of 1.57. Spotify Technology S.A. has a 1-year low of $145.76 and a 1-year high of $368.29. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.56 and a quick ratio of 1.56. The business’s fifty day moving average price is $331.49 and its 200-day moving average price is $307.11.
Analyst Ratings Changes
Several equities research analysts have issued reports on SPOT shares. Evercore ISI lifted their target price on shares of Spotify Technology from $420.00 to $460.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. TD Cowen lifted their price objective on shares of Spotify Technology from $273.00 to $356.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. increased their target price on Spotify Technology from $375.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Macquarie lifted their price target on Spotify Technology from $345.00 to $395.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Finally, Barclays increased their price objective on Spotify Technology from $350.00 to $360.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat.com, Spotify Technology currently has a consensus rating of “Moderate Buy” and an average price target of $359.14.
Check Out 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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