Intellectus Partners LLC Has $439,000 Stake in Spotify Technology S.A. (NYSE:SPOT)

Intellectus Partners LLC decreased its holdings in Spotify Technology S.A. (NYSE:SPOT) by 5.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,191 shares of the company’s stock after selling 63 shares during the period. Intellectus Partners LLC’s holdings in Spotify Technology were worth $439,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. West Bancorporation Inc. increased its stake in Spotify Technology by 3.4% in the third quarter. West Bancorporation Inc. now owns 827 shares of the company’s stock valued at $305,000 after acquiring an additional 27 shares during the last quarter. Washington Trust Advisors Inc. increased its stake in shares of Spotify Technology by 12.0% in the third quarter. Washington Trust Advisors Inc. now owns 299 shares of the company’s stock valued at $110,000 after buying an additional 32 shares during the period. Rakuten Securities Inc. raised its holdings in Spotify Technology by 40.5% during the 3rd quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock worth $41,000 after purchasing an additional 32 shares during the last quarter. Custom Index Systems LLC lifted its holdings in Spotify Technology by 3.0% in the third quarter. Custom Index Systems LLC now owns 1,150 shares of the company’s stock valued at $424,000 after buying an additional 33 shares during the period. Finally, Clearbridge Investments LLC boosted its position in shares of Spotify Technology by 0.6% during the 1st quarter. Clearbridge Investments LLC now owns 6,892 shares of the company’s stock valued at $1,819,000 after purchasing an additional 38 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Stock Performance

Shares of SPOT opened at $458.49 on Friday. 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 has a market cap of $91.26 billion, a price-to-earnings ratio of 124.59 and a beta of 1.56. The firm has a fifty day moving average of $375.44 and a 200-day moving average of $336.64.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Piper Sandler boosted their price objective on Spotify Technology from $330.00 to $450.00 and gave the company a “neutral” 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 stock an “overweight” rating in a report on Wednesday. TD Cowen boosted their target price on shares of Spotify Technology from $356.00 to $416.00 and gave the company a “hold” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft lifted their price target on Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company lifted their target price on shares of Spotify Technology from $470.00 to $520.00 and gave the stock an “overweight” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $421.69.

Spotify Technology 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.