Sequoia Financial Advisors LLC Has $450,000 Holdings in Spotify Technology S.A. (NYSE:SPOT)

Sequoia Financial Advisors LLC increased its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 17.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,221 shares of the company’s stock after acquiring an additional 184 shares during the period. Sequoia Financial Advisors LLC’s holdings in Spotify Technology were worth $450,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in SPOT. Vanguard Group Inc. increased its holdings in shares of Spotify Technology by 6.3% during the 4th quarter. Vanguard Group Inc. now owns 588,847 shares of the company’s stock valued at $110,650,000 after acquiring an additional 34,781 shares during the last quarter. Brookstone Capital Management increased its holdings in shares of Spotify Technology by 5.0% during the 1st quarter. Brookstone Capital Management now owns 1,280 shares of the company’s stock valued at $338,000 after acquiring an additional 61 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Spotify Technology by 157.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,311 shares of the company’s stock valued at $1,138,000 after acquiring an additional 2,635 shares during the last quarter. Integrity Wealth Solutions LLC acquired a new position in shares of Spotify Technology during the 1st quarter valued at about $343,000. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Spotify Technology by 28.1% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 501,072 shares of the company’s stock valued at $132,233,000 after purchasing an additional 109,776 shares during the period. Institutional investors and hedge funds own 84.09% of the company’s stock.

Analyst Ratings Changes

SPOT has been the subject of several recent analyst reports. Bank of America increased their target price on Spotify Technology from $370.00 to $380.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Redburn Atlantic restated a “sell” rating and set a $230.00 target price on shares of Spotify Technology in a research note on Wednesday, July 10th. Pivotal Research increased their target price on Spotify Technology from $460.00 to $510.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Rosenblatt Securities increased their target price on Spotify Technology from $399.00 to $438.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, Guggenheim increased their target price on Spotify Technology from $400.00 to $420.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. One investment 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $369.43.

Spotify Technology Trading Up 0.6 %

SPOT stock opened at $379.16 on Monday. The business has a fifty day moving average price of $357.03 and a 200 day moving average price of $326.04. Spotify Technology S.A. has a fifty-two week low of $155.00 and a fifty-two week high of $389.48. The stock has a market capitalization of $72.12 billion, a price-to-earnings ratio of -565.91 and a beta of 1.58. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.56 and a quick ratio of 1.56.

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.