Granite Group Advisors LLC Has $290,000 Holdings in Spotify Technology S.A. (NYSE:SPOT)

Granite Group Advisors LLC grew its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 5.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 786 shares of the company’s stock after acquiring an additional 43 shares during the quarter. Granite Group Advisors LLC’s holdings in Spotify Technology were worth $290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Transcendent Capital Group LLC bought a new position in Spotify Technology during the second quarter valued at $25,000. Benjamin Edwards Inc. grew its stake in shares of Spotify Technology by 214.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock worth $27,000 after acquiring an additional 58 shares during the period. Larson Financial Group LLC increased its holdings in Spotify Technology by 86.0% in the 1st quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock worth $25,000 after acquiring an additional 43 shares during the last quarter. Mather Group LLC. raised its stake in Spotify Technology by 9,900.0% in the 2nd quarter. Mather Group LLC. now owns 100 shares of the company’s stock valued at $31,000 after acquiring an additional 99 shares during the period. Finally, V Square Quantitative Management LLC bought a new stake in Spotify Technology in the 3rd quarter valued at about $40,000. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on SPOT shares. Morgan Stanley lifted 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. Wolfe Research assumed coverage on shares of Spotify Technology in a research note on Friday, July 12th. They issued an “outperform” rating and a $390.00 target price on the stock. Evercore ISI boosted their price target on shares of Spotify Technology from $420.00 to $460.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. The Goldman Sachs Group upgraded Spotify Technology from a “neutral” rating to a “buy” rating and lifted their price target for the company from $320.00 to $425.00 in a research report on Wednesday, July 24th. Finally, Macquarie raised their price objective on shares of Spotify Technology from $345.00 to $395.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Spotify Technology presently has an average rating of “Moderate Buy” and a consensus price target of $379.79.

Spotify Technology Trading Up 0.3 %

Shares of NYSE SPOT traded up $1.17 during midday trading on Friday, hitting $401.01. 198,834 shares of the company traded hands, compared to its average volume of 1,833,945. Spotify Technology S.A. has a 12-month low of $167.64 and a 12-month high of $405.00. The firm has a market cap of $79.82 billion, a P/E ratio of 163.15 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. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.56 and a current ratio of 1.56.

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.