Spotify Technology S.A. (NYSE:SPOT) Shares Acquired by Venturi Wealth Management LLC

Venturi Wealth Management LLC boosted its holdings in Spotify Technology S.A. (NYSE:SPOT) by 80.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 956 shares of the company’s stock after acquiring an additional 426 shares during the period. Venturi Wealth Management LLC’s holdings in Spotify Technology were worth $352,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in SPOT. Oppenheimer & Co. Inc. purchased a new position in shares of Spotify Technology during the 1st quarter worth $342,000. Atomi Financial Group Inc. acquired a new stake in shares of Spotify Technology during the first quarter valued at about $295,000. Avantax Advisory Services Inc. purchased a new stake in shares of Spotify Technology in the 1st quarter valued at approximately $218,000. Bleakley Financial Group LLC boosted its position in shares of Spotify Technology by 11.4% during the 1st quarter. Bleakley Financial Group LLC now owns 1,727 shares of the company’s stock worth $456,000 after purchasing an additional 177 shares during the period. Finally, Entropy Technologies LP acquired a new stake in Spotify Technology in the 1st quarter valued at approximately $1,127,000. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SPOT has been the topic of a number of research reports. Rosenblatt Securities upped their price target on Spotify Technology from $399.00 to $438.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. TD Cowen raised their target price on Spotify Technology from $273.00 to $356.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. KeyCorp increased their price target on shares of Spotify Technology from $440.00 to $490.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Evercore ISI lifted their price objective on shares of Spotify Technology from $420.00 to $460.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Finally, DZ Bank raised shares of Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 price target for the company in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat.com, Spotify Technology presently has a consensus rating of “Moderate Buy” and an average price target of $381.04.

Spotify Technology Trading Up 2.2 %

Shares of SPOT stock opened at $419.32 on Wednesday. The company has a market capitalization of $83.47 billion, a P/E ratio of 171.15 and a beta of 1.56. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.31. The business’s 50 day moving average is $367.88 and its two-hundred day moving average is $333.81. Spotify Technology S.A. has a twelve month low of $169.02 and a twelve month high of $420.00.

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.