Spotify Technology S.A. (NYSE:SPOT) Shares Bought by Farther Finance Advisors LLC

Farther Finance Advisors LLC grew its position in Spotify Technology S.A. (NYSE:SPOT) by 13.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,332 shares of the company’s stock after acquiring an additional 276 shares during the quarter. Farther Finance Advisors LLC’s holdings in Spotify Technology were worth $860,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SPOT. 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 purchased a new position in shares of Spotify Technology in the second quarter valued at approximately $25,000. Benjamin Edwards Inc. lifted its position in shares of Spotify Technology by 214.8% in the second quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock valued at $27,000 after acquiring an additional 58 shares in the last quarter. Mather Group LLC. lifted its position in shares of 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 acquiring an additional 99 shares in the last quarter. Finally, Asset Dedication LLC purchased a new position in shares of Spotify Technology in the second quarter valued at approximately $35,000. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Analysts Set New Price Targets

SPOT has been the topic of a number of analyst reports. Pivotal Research lifted their price objective on Spotify Technology from $460.00 to $510.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. JPMorgan Chase & Co. lifted their price objective on Spotify Technology from $375.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. KeyCorp lifted their price objective on Spotify Technology from $440.00 to $490.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Benchmark reiterated a “buy” rating and set a $405.00 price objective on shares of Spotify Technology in a research report on Monday, July 22nd. Finally, The Goldman Sachs Group upgraded Spotify Technology from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $320.00 to $425.00 in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $376.21.

Spotify Technology Trading Down 1.8 %

NYSE:SPOT opened at $377.73 on Tuesday. The stock has a 50-day simple moving average of $362.26 and a 200-day simple moving average of $329.85. The stock has a market cap of $75.19 billion, a P/E ratio of 154.18 and a beta of 1.56. Spotify Technology S.A. has a 1 year low of $164.83 and a 1 year high of $397.20. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.56 and a current ratio of 1.56.

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.