Janney Montgomery Scott LLC Increases Holdings in Spotify Technology S.A. (NYSE:SPOT)

Janney Montgomery Scott LLC boosted its position in Spotify Technology S.A. (NYSE:SPOT) by 13.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,455 shares of the company’s stock after purchasing an additional 4,261 shares during the period. Janney Montgomery Scott LLC’s holdings in Spotify Technology were worth $13,066,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC increased its position in shares of Spotify Technology by 13.4% in the third quarter. Farther Finance Advisors LLC now owns 2,332 shares of the company’s stock valued at $860,000 after buying an additional 276 shares in the last quarter. US Bancorp DE increased its holdings in Spotify Technology by 5.0% during the 3rd quarter. US Bancorp DE now owns 59,276 shares of the company’s stock valued at $21,845,000 after acquiring an additional 2,818 shares in the last quarter. Petra Financial Advisors Inc. acquired a new position in Spotify Technology during the third quarter worth about $563,000. Meitav Investment House Ltd. purchased a new stake in shares of Spotify Technology in the third quarter valued at about $209,000. Finally, Financial Advocates Investment Management grew its position in shares of Spotify Technology by 4.4% in the third quarter. Financial Advocates Investment Management now owns 1,116 shares of the company’s stock valued at $411,000 after purchasing an additional 47 shares during the last quarter. 84.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday. Macquarie increased their price objective on Spotify Technology from $345.00 to $395.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Redburn Atlantic reissued a “sell” rating and issued a $230.00 target price on shares of Spotify Technology in a research note on Wednesday, July 10th. KeyCorp raised their price target on shares of Spotify Technology from $440.00 to $490.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, Barclays boosted their price objective on shares of Spotify Technology from $350.00 to $360.00 and gave the company an “overweight” 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 given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $379.79.

Spotify Technology Stock Performance

Shares of NYSE:SPOT opened at $391.13 on Thursday. The business’s 50-day simple moving average is $364.19 and its 200 day simple moving average is $331.03. The company has a market cap of $77.85 billion, a P/E ratio of 159.64 and a beta of 1.56. 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 S.A. has a one year low of $164.83 and a one year high of $397.20.

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.