Plato Investment Management Ltd Acquires 502 Shares of Spotify Technology $SPOT

Plato Investment Management Ltd raised its holdings in Spotify Technology (NYSE:SPOT) by 12.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,661 shares of the company’s stock after buying an additional 502 shares during the period. Plato Investment Management Ltd’s holdings in Spotify Technology were worth $3,563,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in SPOT. First Horizon Advisors Inc. lifted its stake in shares of Spotify Technology by 99.6% in the first quarter. First Horizon Advisors Inc. now owns 1,006 shares of the company’s stock valued at $553,000 after buying an additional 502 shares in the last quarter. Resonant Capital Advisors LLC bought a new position in shares of Spotify Technology in the first quarter valued at $259,000. Mutual Advisors LLC bought a new position in shares of Spotify Technology in the first quarter valued at $187,000. D.A. Davidson & CO. lifted its stake in shares of Spotify Technology by 11.1% in the first quarter. D.A. Davidson & CO. now owns 11,903 shares of the company’s stock valued at $6,547,000 after buying an additional 1,189 shares in the last quarter. Finally, Calamos Advisors LLC lifted its stake in shares of Spotify Technology by 63.4% in the first quarter. Calamos Advisors LLC now owns 35,123 shares of the company’s stock valued at $19,319,000 after buying an additional 13,626 shares in the last quarter. 84.09% of the stock is owned by institutional investors.

Spotify Technology Stock Performance

NYSE SPOT opened at $654.99 on Friday. Spotify Technology has a 52-week low of $376.04 and a 52-week high of $785.00. The company has a 50-day simple moving average of $691.63 and a 200 day simple moving average of $681.09. The company has a market capitalization of $134.08 billion, a PE ratio of 158.98, a price-to-earnings-growth ratio of 3.45 and a beta of 1.67.

Analyst Upgrades and Downgrades

SPOT has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Spotify Technology from $700.00 to $775.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. BNP Paribas upgraded shares of Spotify Technology to a “strong-buy” rating in a report on Tuesday, September 16th. Guggenheim reiterated a “buy” rating and issued a $850.00 target price on shares of Spotify Technology in a report on Wednesday, September 3rd. Sanford C. Bernstein increased their target price on shares of Spotify Technology from $825.00 to $840.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Finally, Wells Fargo & Company increased their target price on shares of Spotify Technology from $740.00 to $750.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $731.81.

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.