Custom Index Systems LLC Boosts Position in Spotify Technology S.A. (NYSE:SPOT)

Custom Index Systems LLC boosted its position in Spotify Technology S.A. (NYSE:SPOT) by 3.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,150 shares of the company’s stock after purchasing an additional 33 shares during the period. Custom Index Systems LLC’s holdings in Spotify Technology were worth $424,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Spotify Technology by 30.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 79,667 shares of the company’s stock worth $21,024,000 after buying an additional 18,731 shares during the last quarter. Perpetual Ltd boosted its stake in shares of Spotify Technology by 24.3% during the 3rd quarter. Perpetual Ltd now owns 759,681 shares of the company’s stock worth $279,965,000 after acquiring an additional 148,431 shares during the last quarter. TD Asset Management Inc grew its position in shares of Spotify Technology by 2.4% during the 1st quarter. TD Asset Management Inc now owns 512,841 shares of the company’s stock valued at $135,339,000 after acquiring an additional 12,192 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in shares of Spotify Technology by 121.6% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 7,399 shares of the company’s stock worth $2,322,000 after purchasing an additional 4,060 shares in the last quarter. Finally, Ritholtz Wealth Management raised its holdings in Spotify Technology by 64.7% in the 3rd quarter. Ritholtz Wealth Management now owns 4,495 shares of the company’s stock worth $1,657,000 after purchasing an additional 1,765 shares during the period. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Trading Up 0.6 %

SPOT stock opened at $379.16 on Monday. Spotify Technology S.A. has a twelve month low of $155.00 and a twelve month high of $389.48. The stock has a market capitalization of $75.47 billion, a price-to-earnings ratio of 154.76 and a beta of 1.58. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.31. The firm’s fifty day simple moving average is $357.03 and its two-hundred day simple moving average is $326.04.

Analyst Upgrades and Downgrades

SPOT has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price target on Spotify Technology from $375.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Barclays raised their target price on shares of Spotify Technology from $350.00 to $360.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. DZ Bank upgraded 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. Jefferies Financial Group restated a “buy” rating and set a $385.00 target price (up previously from $242.00) on shares of Spotify Technology in a research note on Thursday, July 11th. Finally, The Goldman Sachs Group raised Spotify Technology from a “neutral” rating to a “buy” rating and raised their price target for the company from $320.00 to $425.00 in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $369.43.

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.