Spotify Technology S.A. (NYSE:SPOT) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its position in Spotify Technology S.A. (NYSE:SPOT) by 11.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,578 shares of the company’s stock after purchasing an additional 4,192 shares during the period. Principal Financial Group Inc.’s holdings in Spotify Technology were worth $14,586,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Transcendent Capital Group LLC purchased a new stake in Spotify Technology in the 2nd quarter worth $25,000. Benjamin Edwards Inc. increased its holdings 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 acquiring an additional 58 shares in the last quarter. Mather Group LLC. increased its holdings in Spotify Technology by 9,900.0% in the 2nd quarter. Mather Group LLC. now owns 100 shares of the company’s stock worth $31,000 after acquiring an additional 99 shares in the last quarter. Asset Dedication LLC purchased a new stake in Spotify Technology in the 2nd quarter worth $35,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Spotify Technology in the 2nd quarter worth $39,000. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SPOT has been the subject of several recent analyst reports. DZ Bank raised shares of Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 price target for the company in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Piper Sandler upped their target price on shares of Spotify Technology from $330.00 to $450.00 and gave the stock a “neutral” rating in a report on Wednesday. Benchmark upped their target price on shares of Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, KeyCorp upped their target price on shares of Spotify Technology from $490.00 to $520.00 and gave the stock an “overweight” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $421.69.

Spotify Technology Stock Down 4.0 %

Shares of SPOT opened at $458.49 on Friday. The stock has a market capitalization of $91.26 billion, a PE ratio of 128.37 and a beta of 1.56. Spotify Technology S.A. has a 1 year low of $170.62 and a 1 year high of $489.69. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.56 and a current ratio of 1.56. The company’s 50-day simple moving average is $375.44 and its 200-day simple moving average is $336.64.

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.