Parametrica Management Ltd Acquires New Holdings in Spotify Technology S.A. (NYSE:SPOT)

Parametrica Management Ltd acquired a new stake in Spotify Technology S.A. (NYSE:SPOT) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 1,478 shares of the company’s stock, valued at approximately $545,000.

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

Spotify Technology Stock Up 7.0 %

Shares of NYSE SPOT traded up $29.35 during mid-day trading on Wednesday, reaching $448.74. 4,402,532 shares of the company’s stock traded hands, compared to its average volume of 1,882,247. The stock has a market cap of $89.32 billion, a P/E ratio of 184.02 and a beta of 1.56. The business has a 50-day simple moving average of $369.70 and a 200 day simple moving average of $334.73. Spotify Technology S.A. has a 1-year low of $170.62 and a 1-year high of $462.39. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.56 and a quick ratio of 1.56.

Analysts Set New Price Targets

SPOT has been the subject of several analyst reports. KeyCorp raised their price target on shares of Spotify Technology from $440.00 to $490.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. raised their price target on shares of Spotify Technology from $425.00 to $530.00 and gave the company an “overweight” rating in a research note on Wednesday. Barclays raised their price target on shares of Spotify Technology from $350.00 to $360.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Finally, Pivotal Research increased their price objective on shares of Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Spotify Technology currently has an average rating of “Moderate Buy” and a consensus price target of $391.17.

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.