Traders Purchase High Volume of Call Options on Spotify Technology (NYSE:SPOT)

Spotify Technology S.A. (NYSE:SPOT - Get Free Report) was the target of unusually large options trading on Thursday. Investors bought 25,696 call options on the company. This is an increase of 78% compared to the typical volume of 14,444 call options.

Analyst Upgrades and Downgrades

SPOT has been the topic of a number of research analyst reports. Pivotal Research raised their price objective on shares of Spotify Technology from $510.00 to $565.00 and gave the stock a "buy" rating in a report on Wednesday. Morgan Stanley boosted their price target on shares of Spotify Technology from $430.00 to $460.00 and gave the company an "overweight" rating in a research report on Wednesday. Canaccord Genuity Group raised their price objective on Spotify Technology from $475.00 to $525.00 and gave the stock a "buy" rating in a report on Thursday. Deutsche Bank Aktiengesellschaft boosted their target price on Spotify Technology from $430.00 to $440.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. Finally, Phillip Securities reiterated an "accumulate" rating and issued a $485.00 price objective (up previously from $420.00) on shares of Spotify Technology in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, Spotify Technology currently has a consensus rating of "Moderate Buy" and a consensus target price of $421.69.

Spotify Technology Stock Up 2.2 %

NYSE:SPOT traded up $10.22 during mid-day trading on Thursday, reaching $477.59. The stock had a trading volume of 5,038,379 shares, compared to its average volume of 1,931,116. The company has a market capitalization of $95.07 billion, a price-to-earnings ratio of 131.68 and a beta of 1.56. The stock's 50 day simple moving average is $372.46 and its two-hundred day simple moving average is $335.65. 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 has a 1-year low of $170.62 and a 1-year high of $489.69.

Institutional Inflows and Outflows

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

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.