9,700 Shares in Spotify Technology S.A. (NYSE:SPOT) Acquired by Aubrey Capital Management Ltd

Aubrey Capital Management Ltd acquired a new position in Spotify Technology S.A. (NYSE:SPOT - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 9,700 shares of the company's stock, valued at approximately $3,574,000. Spotify Technology accounts for 1.4% of Aubrey Capital Management Ltd's investment portfolio, making the stock its 27th largest position.

Several other large investors also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. acquired a new stake in shares of Spotify Technology in the 1st quarter valued at $342,000. Avantax Advisory Services Inc. acquired a new stake in shares of Spotify Technology in the first quarter worth $218,000. Bleakley Financial Group LLC boosted its stake in Spotify Technology by 11.4% during the first quarter. Bleakley Financial Group LLC now owns 1,727 shares of the company's stock worth $456,000 after buying an additional 177 shares in the last quarter. Entropy Technologies LP bought a new position in Spotify Technology during the first quarter worth about $1,127,000. Finally, Vanguard Group Inc. grew its stake in shares of Spotify Technology by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 612,522 shares of the company's stock valued at $161,645,000 after purchasing an additional 23,675 shares during the period. 84.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Macquarie raised their price objective on shares of Spotify Technology from $395.00 to $500.00 and gave the stock an "outperform" rating in a report on Wednesday. KeyCorp upped their price target on shares of Spotify Technology from $490.00 to $520.00 and gave the stock an "overweight" rating in a research report on Wednesday. Bank of America raised their price objective on shares of Spotify Technology from $430.00 to $515.00 and gave the company a "buy" rating in a research report on Wednesday. Cantor Fitzgerald reissued a "neutral" rating and issued a $340.00 price target on shares of Spotify Technology in a report on Monday, October 7th. Finally, Canaccord Genuity Group upped their price objective on Spotify Technology from $475.00 to $525.00 and gave the stock a "buy" rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $421.69.

Spotify Technology Trading Up 2.2 %

SPOT stock traded up $10.13 during trading on Thursday, hitting $477.50. 5,028,774 shares of the company traded hands, compared to its average volume of 1,931,083. The firm has a market capitalization of $95.05 billion, a PE ratio of 131.68 and a beta of 1.56. The company has a 50-day moving average of $372.46 and a 200-day moving average of $335.65. 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 1 year low of $170.62 and a 1 year high of $489.69.

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.