1,303 Shares in Spotify Technology S.A. (NYSE:SPOT) Bought by Angeles Investment Advisors LLC

Angeles Investment Advisors LLC bought a new position in Spotify Technology S.A. (NYSE:SPOT - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,303 shares of the company's stock, valued at approximately $480,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. bought a new position in shares of Spotify Technology in the 1st quarter valued at about $342,000. Atomi Financial Group Inc. bought a new stake in shares of Spotify Technology in the 1st quarter valued at approximately $295,000. Avantax Advisory Services Inc. purchased a new position in shares of Spotify Technology in the 1st quarter worth approximately $218,000. Bleakley Financial Group LLC increased its position in shares of Spotify Technology by 11.4% during the 1st quarter. Bleakley Financial Group LLC now owns 1,727 shares of the company's stock valued at $456,000 after purchasing an additional 177 shares during the last quarter. Finally, Entropy Technologies LP purchased a new stake in Spotify Technology during the 1st quarter valued at $1,127,000. 84.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on SPOT. JPMorgan Chase & Co. boosted their price objective on shares of Spotify Technology from $425.00 to $530.00 and gave the company an "overweight" rating in a research report on Wednesday. Pivotal Research upped their price target on shares of Spotify Technology from $510.00 to $565.00 and gave the company a "buy" rating in a report on Wednesday. TD Cowen raised their price objective on shares of Spotify Technology from $356.00 to $416.00 and gave the stock a "hold" rating in a research note on Wednesday. Evercore ISI boosted their target price on Spotify Technology from $420.00 to $460.00 and gave the company an "outperform" rating in a research report on Thursday, August 29th. Finally, Morgan Stanley increased their price target on Spotify Technology from $430.00 to $460.00 and gave the stock an "overweight" rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $412.72.

Spotify Technology Stock Up 11.4 %

NYSE:SPOT traded up $47.95 during mid-day trading on Wednesday, hitting $467.34. 12,045,073 shares of the company's stock traded hands, compared to its average volume of 1,916,959. The company has a fifty day moving average of $369.70 and a 200 day moving average of $334.73. 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 twelve month low of $170.62 and a twelve month high of $473.00. The company has a market capitalization of $93.03 billion, a P/E ratio of 127.00 and a beta of 1.56.

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.