Parametrica Management Ltd Makes New $545,000 Investment in Spotify Technology S.A. (NYSE:SPOT)

Parametrica Management Ltd purchased a new position in shares of Spotify Technology S.A. (NYSE:SPOT) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,478 shares of the company’s stock, valued at approximately $545,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SPOT. Transcendent Capital Group LLC bought a new stake in Spotify Technology during the 2nd quarter worth about $25,000. Benjamin Edwards Inc. lifted its position 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 in the last quarter. Mather Group LLC. lifted its position in Spotify Technology by 9,900.0% during the 2nd quarter. Mather Group LLC. now owns 100 shares of the company’s stock worth $31,000 after buying an additional 99 shares in the last quarter. Asset Dedication LLC bought a new stake in shares of Spotify Technology in the 2nd quarter valued at about $35,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Spotify Technology in the 2nd quarter valued at about $39,000. 84.09% of the stock is owned by institutional investors.

Spotify Technology Price Performance

Shares of Spotify Technology stock traded up $29.35 on Wednesday, reaching $448.74. 4,402,532 shares of the stock were exchanged, compared to its average volume of 1,882,247. The firm’s 50 day moving average is $369.70 and its 200-day moving average is $334.73. Spotify Technology S.A. has a one year low of $170.62 and a one year high of $462.39. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.56 and a current ratio of 1.56. The firm has a market cap of $89.32 billion, a PE ratio of 184.02 and a beta of 1.56.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SPOT shares. JPMorgan Chase & Co. upped their target price on shares of Spotify Technology from $425.00 to $530.00 and gave the company an “overweight” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft upped their target price on shares of Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $340.00 target price on shares of Spotify Technology in a report on Monday, October 7th. Wells Fargo & Company upped their target price on shares of Spotify Technology from $420.00 to $470.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Finally, Benchmark upped their target price on shares of Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a report on Monday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Spotify Technology has a consensus rating of “Moderate Buy” and a consensus target price of $391.17.

About Spotify Technology

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.