Angeles Investment Advisors LLC Takes Position in Spotify Technology S.A. (NYSE:SPOT)

Angeles Investment Advisors LLC acquired a new stake in shares of Spotify Technology S.A. (NYSE:SPOT) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,303 shares of the company’s stock, valued at approximately $480,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SPOT. West Bancorporation Inc. increased its holdings in shares of Spotify Technology by 3.4% in the third quarter. West Bancorporation Inc. now owns 827 shares of the company’s stock worth $305,000 after purchasing an additional 27 shares during the period. Washington Trust Advisors Inc. grew its position in Spotify Technology by 12.0% during the third quarter. Washington Trust Advisors Inc. now owns 299 shares of the company’s stock worth $110,000 after buying an additional 32 shares in the last quarter. Rakuten Securities Inc. increased its stake in Spotify Technology by 40.5% in the 3rd quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock worth $41,000 after acquiring an additional 32 shares during the last quarter. Custom Index Systems LLC raised its holdings in shares of Spotify Technology by 3.0% in the 3rd quarter. Custom Index Systems LLC now owns 1,150 shares of the company’s stock valued at $424,000 after acquiring an additional 33 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its position in shares of Spotify Technology by 0.6% during the 1st quarter. Clearbridge Investments LLC now owns 6,892 shares of the company’s stock valued at $1,819,000 after acquiring an additional 38 shares during the last quarter. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Trading Up 9.5 %

Shares of NYSE:SPOT traded up $39.65 on Wednesday, hitting $459.04. The company had a trading volume of 2,294,395 shares, compared to its average volume of 1,866,253. The firm’s 50-day simple moving average is $369.70 and its two-hundred day simple moving average is $334.73. The firm has a market capitalization of $91.37 billion, a price-to-earnings ratio of 171.15 and a beta of 1.56. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.31. Spotify Technology S.A. has a 1 year low of $170.62 and a 1 year high of $461.96.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. The Goldman Sachs Group upgraded shares of Spotify Technology from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $320.00 to $425.00 in a research report on Wednesday, July 24th. JPMorgan Chase & Co. raised their price objective on shares of Spotify Technology from $375.00 to $425.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Rosenblatt Securities raised their price target on Spotify Technology from $399.00 to $438.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Finally, Pivotal Research upped their price objective on Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a report on Wednesday. One 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $387.55.

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.