Angeles Wealth Management LLC acquired a new stake in shares of Spotify Technology (NYSE:SPOT – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 291 shares of the company’s stock, valued at approximately $223,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Joel Isaacson & Co. LLC lifted its position in Spotify Technology by 1.0% during the second quarter. Joel Isaacson & Co. LLC now owns 1,551 shares of the company’s stock valued at $1,190,000 after purchasing an additional 15 shares during the period. Ignite Planners LLC lifted its position in Spotify Technology by 2.4% during the second quarter. Ignite Planners LLC now owns 637 shares of the company’s stock valued at $489,000 after purchasing an additional 15 shares during the period. Hartford Investment Management Co. lifted its position in Spotify Technology by 1.1% during the first quarter. Hartford Investment Management Co. now owns 1,449 shares of the company’s stock valued at $797,000 after purchasing an additional 16 shares during the period. Stonekeep Investments LLC lifted its position in Spotify Technology by 2.1% during the second quarter. Stonekeep Investments LLC now owns 773 shares of the company’s stock valued at $593,000 after purchasing an additional 16 shares during the period. Finally, Moody National Bank Trust Division lifted its position in Spotify Technology by 0.5% during the second quarter. Moody National Bank Trust Division now owns 2,931 shares of the company’s stock valued at $2,249,000 after purchasing an additional 16 shares during the period. Institutional investors own 84.09% of the company’s stock.
Spotify Technology Price Performance
Shares of NYSE SPOT opened at $671.04 on Friday. The firm has a fifty day moving average price of $699.44 and a 200-day moving average price of $671.61. The stock has a market cap of $137.37 billion, a PE ratio of 162.87, a price-to-earnings-growth ratio of 3.20 and a beta of 1.67. Spotify Technology has a 1 year low of $369.42 and a 1 year high of $785.00.
Analyst Upgrades and Downgrades
SPOT has been the subject of a number of research reports. Sanford C. Bernstein upped their target price on shares of Spotify Technology from $825.00 to $840.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. JPMorgan Chase & Co. upped their target price on shares of Spotify Technology from $740.00 to $805.00 and gave the company an “overweight” rating in a report on Monday, September 29th. Morgan Stanley reduced their target price on shares of Spotify Technology from $850.00 to $800.00 and set an “overweight” rating for the company in a report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Spotify Technology from $700.00 to $775.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Finally, Citigroup upped their target price on shares of Spotify Technology from $715.00 to $750.00 and gave the company a “neutral” rating in a report on Tuesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Spotify Technology presently has a consensus rating of “Moderate Buy” and an average target price of $731.16.
Read Our Latest Research Report on SPOT
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.
Further Reading
- Five stocks we like better than Spotify Technology
- What is a Low P/E Ratio and What Does it Tell Investors?
- Johnson & Johnson’s M&A Strategy Is the Real Story for Investors
- Basic Materials Stocks Investing
- Tesla: Some Analysts Are Calling for A 30% Drop—Time to Panic?
- What is the S&P/TSX Index?
- Hedge Funds Flip on the Dollar—A Buy Signal for These 3 Stocks?
Want to see what other hedge funds are holding SPOT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Spotify Technology (NYSE:SPOT – Free Report).
Receive News & Ratings for Spotify Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spotify Technology and related companies with MarketBeat.com's FREE daily email newsletter.