Pathway Capital Management LP Has $21.13 Million Stake in Spotify Technology S.A. (NYSE:SPOT)

Pathway Capital Management LP boosted its holdings in Spotify Technology S.A. (NYSE:SPOT) by 23.8% in the third quarter, Holdings Channel reports. The institutional investor owned 57,340 shares of the company’s stock after buying an additional 11,042 shares during the period. Spotify Technology accounts for approximately 39.9% of Pathway Capital Management LP’s holdings, making the stock its 2nd largest position. Pathway Capital Management LP’s holdings in Spotify Technology were worth $21,132,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Transcendent Capital Group LLC bought a new position in Spotify Technology in the 2nd quarter valued at approximately $25,000. Benjamin Edwards Inc. raised its holdings in Spotify Technology by 214.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock valued at $27,000 after buying an additional 58 shares during the last quarter. Mather Group LLC. raised its holdings 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 purchasing an additional 99 shares during the last quarter. Asset Dedication LLC bought a new position in Spotify Technology during the 2nd quarter worth approximately $35,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in Spotify Technology during the 2nd quarter worth approximately $39,000. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Price Performance

Shares of NYSE:SPOT opened at $410.23 on Tuesday. The company’s 50-day moving average is $366.54 and its 200 day moving average is $332.96. 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 company has a market capitalization of $81.66 billion, a P/E ratio of 167.44 and a beta of 1.56. Spotify Technology S.A. has a fifty-two week low of $169.02 and a fifty-two week high of $412.95.

Wall Street Analyst Weigh In

SPOT has been the subject of several analyst reports. Benchmark raised their price target on shares of Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a report on Monday. Deutsche Bank Aktiengesellschaft raised their price target on shares of Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Rosenblatt Securities raised their price target on shares of Spotify Technology from $399.00 to $438.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Guggenheim raised their price target on shares of Spotify Technology from $400.00 to $420.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, KeyCorp lifted their price objective 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $381.04.

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.