Dakota Wealth Management Raises Holdings in Spotify Technology S.A. (NYSE:SPOT)

Dakota Wealth Management boosted its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 7.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,689 shares of the company’s stock after acquiring an additional 115 shares during the quarter. Dakota Wealth Management’s holdings in Spotify Technology were worth $622,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Larson Financial Group LLC grew its holdings in 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 purchasing an additional 43 shares during the last quarter. Transcendent Capital Group LLC purchased a new position in Spotify Technology in the second quarter worth $25,000. Benjamin Edwards Inc. grew its holdings in Spotify Technology by 214.8% in the second quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock worth $27,000 after purchasing an additional 58 shares during the last quarter. Mather Group LLC. grew its holdings in Spotify Technology by 9,900.0% in the second quarter. Mather Group LLC. now owns 100 shares of the company’s stock worth $31,000 after purchasing an additional 99 shares during the last quarter. Finally, FinTrust Capital Advisors LLC grew its holdings in Spotify Technology by 400.0% in the first quarter. FinTrust Capital Advisors LLC now owns 125 shares of the company’s stock worth $33,000 after purchasing an additional 100 shares during the last quarter. 84.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on SPOT shares. Morgan Stanley lifted their price target on shares of Spotify Technology from $400.00 to $430.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. DZ Bank raised shares of Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 price objective on the stock in a report on Wednesday, July 24th. TD Cowen boosted their price objective on shares of Spotify Technology from $273.00 to $356.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Evercore ISI boosted their price objective on shares of Spotify Technology from $420.00 to $460.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Finally, Macquarie boosted their price objective on shares of Spotify Technology from $345.00 to $395.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $369.43.

Spotify Technology Trading Up 0.6 %

Shares of Spotify Technology stock opened at $379.16 on Monday. The firm has a 50-day simple moving average of $357.03 and a two-hundred day simple moving average of $326.04. The company has a market cap of $72.12 billion, a P/E ratio of -565.91 and a beta of 1.58. Spotify Technology S.A. has a fifty-two week low of $155.00 and a fifty-two week high of $389.48. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.56 and a current ratio of 1.56.

About Spotify Technology

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.