Zions Bancorporation N.A. Acquires 64 Shares of Spotify Technology S.A. (NYSE:SPOT)

Zions Bancorporation N.A. boosted its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 5.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,170 shares of the company’s stock after acquiring an additional 64 shares during the period. Zions Bancorporation N.A.’s holdings in Spotify Technology were worth $431,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in SPOT. Parametrica Management Ltd acquired a new position in Spotify Technology during the third quarter valued at approximately $545,000. Angeles Investment Advisors LLC acquired a new position in Spotify Technology in the third quarter valued at about $480,000. Cumberland Partners Ltd raised its position in shares of Spotify Technology by 16.7% during the third quarter. Cumberland Partners Ltd now owns 3,500 shares of the company’s stock worth $1,290,000 after purchasing an additional 500 shares during the period. Aigen Investment Management LP lifted its holdings in shares of Spotify Technology by 42.4% during the 3rd quarter. Aigen Investment Management LP now owns 9,800 shares of the company’s stock valued at $3,612,000 after purchasing an additional 2,918 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC bought a new stake in Spotify Technology during the 3rd quarter worth approximately $244,000. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Stock Performance

Shares of NYSE SPOT opened at $458.49 on Friday. The stock has a market cap of $91.26 billion, a price-to-earnings ratio of 124.59 and a beta of 1.56. The stock’s 50-day moving average is $375.44 and its 200 day moving average is $336.64. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.31. Spotify Technology S.A. has a 1-year low of $170.62 and a 1-year high of $489.69.

Analysts Set New Price Targets

A number of brokerages have weighed in on SPOT. Morgan Stanley lifted their price target on shares of Spotify Technology from $430.00 to $460.00 and gave the company an “overweight” rating in a research note on Wednesday. Bank of America lifted their price target on Spotify Technology from $430.00 to $515.00 and gave the company a “buy” rating in a research note on Wednesday. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $340.00 price objective on shares of Spotify Technology in a research report on Monday, October 7th. Deutsche Bank Aktiengesellschaft lifted their target price on Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, Benchmark raised their price target on shares of Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, Spotify Technology presently has an average rating of “Moderate Buy” and an average 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.