Spotify Technology S.A. (NYSE:SPOT) Shares Sold by Summit Place Financial Advisors LLC

Summit Place Financial Advisors LLC cut its stake in Spotify Technology S.A. (NYSE:SPOT) by 26.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 698 shares of the company’s stock after selling 250 shares during the period. Summit Place Financial Advisors LLC’s holdings in Spotify Technology were worth $257,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Larson Financial Group LLC lifted its position in shares of Spotify Technology by 86.0% in the first quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock valued at $25,000 after acquiring an additional 43 shares in the last quarter. Transcendent Capital Group LLC acquired a new stake in Spotify Technology in the second quarter valued at approximately $25,000. Benjamin Edwards Inc. increased its stake 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 buying an additional 58 shares during the period. Mather Group LLC. boosted its holdings in Spotify Technology by 9,900.0% in the second quarter. Mather Group LLC. now owns 100 shares of the company’s stock valued at $31,000 after purchasing an additional 99 shares during the last quarter. Finally, FinTrust Capital Advisors LLC increased its stake 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 buying an additional 100 shares during the last quarter. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SPOT has been the topic of a number of research reports. Barclays increased their target price on shares of Spotify Technology from $350.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. The Goldman Sachs Group raised shares of Spotify Technology from a “neutral” rating to a “buy” rating and raised their target price for the company from $320.00 to $425.00 in a research note on Wednesday, July 24th. JPMorgan Chase & Co. raised 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. TD Cowen raised their price objective on Spotify Technology from $273.00 to $356.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Finally, Macquarie boosted their price target on shares of Spotify Technology from $345.00 to $395.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $376.21.

Spotify Technology Stock Up 2.8 %

Shares of NYSE SPOT opened at $389.75 on Monday. The stock has a market capitalization of $77.58 billion, a P/E ratio of 157.96 and a beta of 1.58. The firm’s 50 day simple moving average is $357.03 and its two-hundred day simple moving average is $326.04. 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 S.A. has a one year low of $159.75 and a one year high of $389.75.

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.