DekaBank Deutsche Girozentrale increased its stake in Spotify Technology (NYSE:SPOT – Free Report) by 9.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 61,077 shares of the company’s stock after purchasing an additional 5,394 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Spotify Technology were worth $47,622,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of SPOT. GAMMA Investing LLC increased its holdings in shares of Spotify Technology by 38.1% in the 1st quarter. GAMMA Investing LLC now owns 1,305 shares of the company’s stock worth $718,000 after buying an additional 360 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Spotify Technology by 16.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 8,543 shares of the company’s stock worth $4,699,000 after acquiring an additional 1,179 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in Spotify Technology by 7.4% in the first quarter. Oppenheimer Asset Management Inc. now owns 7,864 shares of the company’s stock worth $4,325,000 after acquiring an additional 543 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake in Spotify Technology by 523.7% in the first quarter. Oppenheimer & Co. Inc. now owns 2,863 shares of the company’s stock valued at $1,575,000 after acquiring an additional 2,404 shares during the last quarter. Finally, Consolidated Portfolio Review Corp purchased a new stake in Spotify Technology during the first quarter valued at about $2,010,000. 84.09% of the stock is currently owned by institutional investors.
Spotify Technology Price Performance
SPOT opened at $688.54 on Wednesday. Spotify Technology has a one year low of $376.00 and a one year high of $785.00. The business has a 50 day simple moving average of $699.13 and a two-hundred day simple moving average of $673.70. The firm has a market capitalization of $140.95 billion, a price-to-earnings ratio of 167.12, a PEG ratio of 3.22 and a beta of 1.67.
Wall Street Analyst Weigh In
SPOT has been the subject of a number of research reports. Guggenheim reiterated a “buy” rating and issued a $850.00 price objective on shares of Spotify Technology in a report on Wednesday, September 3rd. Barclays reduced their price target on shares of Spotify Technology from $800.00 to $750.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Spotify Technology from $700.00 to $775.00 and gave the stock a “buy” rating in a research report on Wednesday, July 23rd. Bank of America boosted their price target on shares of Spotify Technology from $700.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, June 26th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Spotify Technology in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $731.16.
Get Our Latest Research Report on Spotify Technology
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.
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