CWA Asset Management Group LLC Purchases New Holdings in Spotify Technology S.A. (NYSE:SPOT)

CWA Asset Management Group LLC acquired a new position in shares of Spotify Technology S.A. (NYSE:SPOT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,109 shares of the company’s stock, valued at approximately $409,000.

Other hedge funds have also recently bought and sold shares of the company. Equitable Trust Co. lifted its stake in shares of Spotify Technology by 10.2% during the third quarter. Equitable Trust Co. now owns 9,496 shares of the company’s stock valued at $3,500,000 after acquiring an additional 882 shares during the period. Fiera Capital Corp acquired a new position in Spotify Technology during the 3rd quarter valued at about $1,674,000. Granite Group Advisors LLC grew its position in shares of Spotify Technology by 5.8% during the 3rd quarter. Granite Group Advisors LLC now owns 786 shares of the company’s stock worth $290,000 after buying an additional 43 shares during the period. Summit Global Investments raised its stake in shares of Spotify Technology by 194.2% during the third quarter. Summit Global Investments now owns 13,423 shares of the company’s stock worth $4,947,000 after buying an additional 8,861 shares during the last quarter. Finally, TFB Advisors LLC lifted its holdings in Spotify Technology by 13.9% in the third quarter. TFB Advisors LLC now owns 1,500 shares of the company’s stock valued at $553,000 after buying an additional 183 shares during the period. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Stock Performance

Shares of NYSE SPOT opened at $410.23 on Tuesday. The stock has a market capitalization of $81.66 billion, a P/E ratio of 163.54 and a beta of 1.56. The firm’s 50-day moving average price is $366.54 and its two-hundred day moving average price is $332.96. Spotify Technology S.A. has a 52-week low of $169.02 and a 52-week high of $412.95. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.31.

Analysts Set New Price Targets

SPOT has been the subject of a number of analyst reports. Morgan Stanley lifted their target price 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. JPMorgan Chase & Co. lifted their price target on shares of Spotify Technology from $375.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Guggenheim boosted their price objective 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. KeyCorp increased their target price on shares of Spotify Technology from $440.00 to $490.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $340.00 price target on shares of Spotify Technology in a research report on Monday, October 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat.com, Spotify Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $381.04.

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.