Oak Harvest Investment Services Purchases 1,978 Shares of Spotify Technology S.A. (NYSE:SPOT)

Oak Harvest Investment Services grew its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 46.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,235 shares of the company’s stock after buying an additional 1,978 shares during the period. Oak Harvest Investment Services’ holdings in Spotify Technology were worth $2,298,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Spotify Technology by 6.3% in the fourth quarter. Vanguard Group Inc. now owns 588,847 shares of the company’s stock worth $110,650,000 after purchasing an additional 34,781 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of Spotify Technology by 157.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,311 shares of the company’s stock worth $1,138,000 after purchasing an additional 2,635 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Spotify Technology by 28.1% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 501,072 shares of the company’s stock worth $132,233,000 after purchasing an additional 109,776 shares during the period. Valley National Advisers Inc. boosted its stake in Spotify Technology by 40.8% in the first quarter. Valley National Advisers Inc. now owns 207 shares of the company’s stock valued at $54,000 after buying an additional 60 shares in the last quarter. Finally, Norden Group LLC acquired a new stake in Spotify Technology in the first quarter valued at about $302,000. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Up 0.6 %

SPOT stock opened at $393.73 on Thursday. The stock’s fifty day simple moving average is $359.73 and its two-hundred day simple moving average is $327.72. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.31. Spotify Technology S.A. has a 1-year low of $161.39 and a 1-year high of $397.20. The stock has a market cap of $74.89 billion, a P/E ratio of -587.66 and a beta of 1.58.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on SPOT shares. Redburn Atlantic reaffirmed a “sell” rating and issued a $230.00 price objective on shares of Spotify Technology in a research note on Wednesday, July 10th. KeyCorp lifted their price target on Spotify Technology from $440.00 to $490.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Evercore ISI lifted their price target on Spotify Technology from $420.00 to $460.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Wells Fargo & Company lifted their price target on Spotify Technology from $420.00 to $470.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Wolfe Research started coverage on Spotify Technology in a research note on Friday, July 12th. They set an “outperform” rating and a $390.00 price target on the stock. One research 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, Spotify Technology presently has an average rating of “Moderate Buy” and an average price target of $376.21.

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.