Parametrica Management Ltd Purchases New Position in Spotify Technology S.A. (NYSE:SPOT)

Parametrica Management Ltd purchased a new stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,478 shares of the company's stock, valued at approximately $545,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Angeles Investment Advisors LLC acquired a new stake in Spotify Technology during the third quarter worth $480,000. Cumberland Partners Ltd boosted its position in shares of Spotify Technology by 16.7% during the third quarter. Cumberland Partners Ltd now owns 3,500 shares of the company's stock worth $1,290,000 after buying an additional 500 shares during the period. Aigen Investment Management LP boosted its holdings in Spotify Technology by 42.4% in the third quarter. Aigen Investment Management LP now owns 9,800 shares of the company's stock valued at $3,612,000 after purchasing an additional 2,918 shares during the period. Prime Capital Investment Advisors LLC purchased a new position in Spotify Technology in the third quarter valued at $244,000. Finally, Rakuten Securities Inc. raised its stake in Spotify Technology by 40.5% in the third quarter. Rakuten Securities Inc. now owns 111 shares of the company's stock valued at $41,000 after buying an additional 32 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company's stock.

Spotify Technology Trading Up 11.4 %

SPOT stock traded up $47.95 on Wednesday, hitting $467.34. 12,045,073 shares of the company were exchanged, compared to its average volume of 1,916,959. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.56 and a quick ratio of 1.56. The stock has a market capitalization of $93.03 billion, a price-to-earnings ratio of 127.00 and a beta of 1.56. Spotify Technology S.A. has a twelve month low of $170.62 and a twelve month high of $473.00. The business's fifty day moving average is $369.70 and its two-hundred day moving average is $334.73.

Wall Street Analysts Forecast Growth

SPOT has been the topic of a number of analyst reports. Macquarie raised their price target on Spotify Technology from $395.00 to $500.00 and gave the company an "outperform" rating in a research note on Wednesday. DZ Bank upgraded shares of Spotify Technology from a "hold" rating to a "buy" rating and set a $375.00 target price on the stock in a research report on Wednesday, July 24th. Guggenheim upped their price target on shares of Spotify Technology from $400.00 to $420.00 and gave the company a "buy" rating in a research report on Wednesday, July 24th. Wells Fargo & Company lifted their price objective on shares of Spotify Technology from $470.00 to $520.00 and gave the company an "overweight" rating in a research note on Wednesday. Finally, Benchmark upped their price objective on Spotify Technology from $430.00 to $440.00 and gave the company a "buy" rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat, Spotify Technology presently has an average rating of "Moderate Buy" and a consensus price target of $412.72.

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.