Janney Montgomery Scott LLC Purchases 4,261 Shares of Spotify Technology S.A. (NYSE:SPOT)

Janney Montgomery Scott LLC lifted its stake in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 13.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 35,455 shares of the company's stock after acquiring an additional 4,261 shares during the quarter. Janney Montgomery Scott LLC's holdings in Spotify Technology were worth $13,066,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SPOT. Larson Financial Group LLC boosted its stake in shares of Spotify Technology by 86.0% in the first quarter. Larson Financial Group LLC now owns 93 shares of the company's stock worth $25,000 after acquiring an additional 43 shares during the period. Transcendent Capital Group LLC bought a new position in Spotify Technology in the 2nd quarter worth approximately $25,000. Benjamin Edwards Inc. boosted its stake in Spotify Technology by 214.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 85 shares of the company's stock worth $27,000 after purchasing an additional 58 shares during the period. Mather Group LLC. grew its holdings in Spotify Technology by 9,900.0% during the 2nd quarter. Mather Group LLC. now owns 100 shares of the company's stock valued at $31,000 after buying an additional 99 shares in the last quarter. Finally, Asset Dedication LLC bought a new stake in shares of Spotify Technology during the second quarter valued at approximately $35,000. 84.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Guggenheim raised their target price on shares of Spotify Technology from $400.00 to $420.00 and gave the company a "buy" rating in a research note on Wednesday, July 24th. Morgan Stanley raised their price objective on Spotify Technology from $400.00 to $430.00 and gave the company an "overweight" rating in a research report on Wednesday, October 23rd. Redburn Atlantic reiterated a "sell" rating and issued a $230.00 target price on shares of Spotify Technology in a research report on Wednesday, July 10th. Macquarie raised their price target on Spotify Technology from $345.00 to $395.00 and gave the company an "outperform" rating in a report on Tuesday, July 23rd. Finally, Barclays upped their price objective on Spotify Technology from $350.00 to $360.00 and gave the stock an "overweight" rating in a report on Wednesday, July 24th. One 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 stock. According to MarketBeat, Spotify Technology currently has an average rating of "Moderate Buy" and a consensus target price of $379.79.

Spotify Technology Trading Up 2.2 %

SPOT stock opened at $391.13 on Thursday. Spotify Technology S.A. has a 12 month low of $164.83 and a 12 month high of $397.20. The firm's 50-day moving average is $364.19 and its 200 day moving average is $331.03. The company has a market capitalization of $77.85 billion, a PE ratio of 159.64 and a beta of 1.56. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.56 and a quick ratio of 1.56.

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.