Spotify Technology S.A. (NYSE:SPOT) Shares Purchased by Connable Office Inc.

Connable Office Inc. raised its position in Spotify Technology S.A. (NYSE:SPOT) by 14.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,600 shares of the company’s stock after buying an additional 465 shares during the period. Connable Office Inc.’s holdings in Spotify Technology were worth $1,327,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SPOT. Transcendent Capital Group LLC purchased a new position in shares of Spotify Technology in the second quarter worth about $25,000. Benjamin Edwards Inc. raised its holdings in Spotify Technology by 214.8% in 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. lifted its stake in Spotify Technology by 9,900.0% in the 2nd 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. V Square Quantitative Management LLC acquired a new position in shares of Spotify Technology during the 3rd quarter worth approximately $40,000. Finally, Rakuten Securities Inc. grew its position in shares of Spotify Technology by 40.5% in the third quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock valued at $41,000 after purchasing an additional 32 shares in the last quarter. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Spotify Technology Stock Performance

Shares of Spotify Technology stock opened at $477.59 on Friday. The business has a 50-day simple moving average of $372.46 and a 200-day simple moving average of $335.65. The company has a market cap of $95.06 billion, a PE ratio of 129.78 and a beta of 1.56. Spotify Technology S.A. has a one year low of $170.62 and a one year high of $489.69. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.56 and a current ratio of 1.56.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Benchmark boosted their price objective on Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a research note on Monday. Guggenheim lifted their price target on shares of Spotify Technology from $400.00 to $420.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Wells Fargo & Company increased their price objective on Spotify Technology from $470.00 to $520.00 and gave the stock an “overweight” rating in a research report on Wednesday. Evercore ISI lifted their target price on Spotify Technology from $420.00 to $460.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Finally, JPMorgan Chase & Co. increased their price target on Spotify Technology from $425.00 to $530.00 and gave the stock an “overweight” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $421.69.

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.