Spotify Technology S.A. (NYSE:SPOT) Shares Bought by Equitable Trust Co.

Equitable Trust Co. grew its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 10.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,496 shares of the company’s stock after acquiring an additional 882 shares during the period. Equitable Trust Co.’s holdings in Spotify Technology were worth $3,500,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of SPOT. Larson Financial Group LLC grew its stake in shares of Spotify Technology by 86.0% during 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 bought a new position in shares of Spotify Technology during the second quarter worth about $25,000. Benjamin Edwards Inc. lifted its position in shares of Spotify Technology by 214.8% during the second quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock worth $27,000 after purchasing an additional 58 shares during the last quarter. Mather Group LLC. lifted 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 worth $31,000 after acquiring an additional 99 shares during the last quarter. Finally, Asset Dedication LLC bought a new position in Spotify Technology in the second quarter worth about $35,000. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Trading Up 0.2 %

SPOT opened at $400.68 on Friday. Spotify Technology S.A. has a fifty-two week low of $167.64 and a fifty-two week high of $405.93. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.56 and a quick ratio of 1.56. The firm has a market capitalization of $79.76 billion, a price-to-earnings ratio of 163.54 and a beta of 1.56. The company’s 50 day moving average price is $366.54 and its two-hundred day moving average price is $332.40.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. KeyCorp raised their price target on shares of Spotify Technology from $440.00 to $490.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group upgraded shares of Spotify Technology from a “neutral” rating to a “buy” rating and raised their price objective for the company from $320.00 to $425.00 in a research note on Wednesday, July 24th. Wolfe Research began coverage on shares of Spotify Technology in a research note on Friday, July 12th. They set an “outperform” rating and a $390.00 price objective on the stock. Guggenheim raised their price objective on shares of Spotify Technology from $400.00 to $420.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, TD Cowen lifted their price target on shares of Spotify Technology from $273.00 to $356.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $379.79.

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.