Spotify Technology S.A. (NYSE:SPOT) Shares Bought by Hanseatic Management Services Inc.

Hanseatic Management Services Inc. increased its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 23.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 386 shares of the company’s stock after purchasing an additional 73 shares during the period. Hanseatic Management Services Inc.’s holdings in Spotify Technology were worth $142,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. GQG Partners LLC acquired a new position in Spotify Technology during the first quarter worth about $610,040,000. Bamco Inc. NY increased its stake in Spotify Technology by 28.3% in the 1st quarter. Bamco Inc. NY now owns 864,584 shares of the company’s stock valued at $228,164,000 after purchasing an additional 190,931 shares in the last quarter. Swedbank AB boosted its position in Spotify Technology by 13.2% during the second quarter. Swedbank AB now owns 852,526 shares of the company’s stock worth $267,514,000 after purchasing an additional 99,730 shares in the last quarter. Perpetual Ltd grew its holdings in Spotify Technology by 24.3% in the third quarter. Perpetual Ltd now owns 759,681 shares of the company’s stock valued at $279,965,000 after purchasing an additional 148,431 shares during the last quarter. Finally, D1 Capital Partners L.P. increased its position in shares of Spotify Technology by 5.6% in the second quarter. D1 Capital Partners L.P. now owns 680,061 shares of the company’s stock valued at $213,396,000 after buying an additional 36,000 shares in the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Performance

Shares of SPOT opened at $391.13 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.56 and a quick ratio of 1.56. Spotify Technology S.A. has a 12-month low of $164.83 and a 12-month high of $397.20. The business’s fifty day moving average price is $364.19 and its 200 day moving average price is $331.03. The stock has a market capitalization of $77.85 billion, a PE ratio of 159.64 and a beta of 1.56.

Wall Street Analysts Forecast Growth

SPOT has been the topic of a number of research reports. Morgan Stanley increased their price objective on shares of Spotify Technology from $400.00 to $430.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Redburn Atlantic restated a “sell” rating and set a $230.00 price objective on shares of Spotify Technology in a research report on Wednesday, July 10th. Benchmark reiterated a “buy” rating and set a $405.00 target price on shares of Spotify Technology in a report on Monday, July 22nd. Macquarie lifted their price target on shares of Spotify Technology from $345.00 to $395.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Finally, DZ Bank raised Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 price target on the stock in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $379.79.

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.