David J Yvars Group Trims Stock Position in Spotify Technology S.A. (NYSE:SPOT)

David J Yvars Group decreased its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 4.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,411 shares of the company’s stock after selling 513 shares during the period. Spotify Technology makes up approximately 2.6% of David J Yvars Group’s holdings, making the stock its 9th largest holding. David J Yvars Group’s holdings in Spotify Technology were worth $4,205,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Norden Group LLC bought a new stake in shares of Spotify Technology in the 1st quarter worth approximately $302,000. Larson Financial Group LLC boosted its position in Spotify Technology by 86.0% during the first quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock valued at $25,000 after buying an additional 43 shares during the period. Csenge Advisory Group bought a new position in shares of Spotify Technology during the first quarter valued at about $231,000. Duality Advisers LP grew its stake in shares of Spotify Technology by 58.0% during the first quarter. Duality Advisers LP now owns 7,039 shares of the company’s stock valued at $1,858,000 after buying an additional 2,584 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of Spotify Technology by 199.4% in the first quarter. SG Americas Securities LLC now owns 92,302 shares of the company’s stock worth $24,358,000 after buying an additional 61,478 shares during the period. Institutional investors own 84.09% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. DZ Bank upgraded Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 price target on the stock in a research report on Wednesday, July 24th. Benchmark reaffirmed a “buy” rating and issued a $405.00 target price on shares of Spotify Technology in a research note on Monday, July 22nd. Jefferies Financial Group reiterated a “buy” rating and set a $385.00 price target (up from $242.00) on shares of Spotify Technology in a report on Thursday, July 11th. Rosenblatt Securities raised their price target on shares of Spotify Technology from $399.00 to $438.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Finally, Pivotal Research upped their price objective on shares of Spotify Technology from $460.00 to $510.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $379.79.

Spotify Technology Price Performance

SPOT opened at $391.13 on Thursday. The firm has a market cap of $77.85 billion, a PE ratio of 159.64 and a beta of 1.56. The stock has a 50-day moving average price of $364.19 and a 200-day moving average price of $331.03. Spotify Technology S.A. has a 1 year low of $164.83 and a 1 year high of $397.20. 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 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.