Stephens Investment Management Group LLC Has $74.60 Million Stake in Spotify Technology S.A. (NYSE:SPOT)

Stephens Investment Management Group LLC reduced its position in Spotify Technology S.A. (NYSE:SPOT) by 3.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 202,425 shares of the company’s stock after selling 8,158 shares during the quarter. Stephens Investment Management Group LLC owned approximately 0.11% of Spotify Technology worth $74,600,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. West Bancorporation Inc. grew its holdings in Spotify Technology by 3.4% during the 3rd quarter. West Bancorporation Inc. now owns 827 shares of the company’s stock worth $305,000 after acquiring an additional 27 shares during the period. Custom Index Systems LLC boosted its position in shares of Spotify Technology by 3.0% during the 3rd quarter. Custom Index Systems LLC now owns 1,150 shares of the company’s stock valued at $424,000 after purchasing an additional 33 shares in the last quarter. Clearbridge Investments LLC grew its stake in Spotify Technology by 0.6% during the first quarter. Clearbridge Investments LLC now owns 6,892 shares of the company’s stock worth $1,819,000 after purchasing an additional 38 shares during the period. Cigna Investments Inc. New increased its holdings in Spotify Technology by 3.3% in the second quarter. Cigna Investments Inc. New now owns 1,260 shares of the company’s stock worth $395,000 after purchasing an additional 40 shares in the last quarter. Finally, Moody Lynn & Lieberson LLC lifted its stake in Spotify Technology by 0.6% in the second quarter. Moody Lynn & Lieberson LLC now owns 6,843 shares of the company’s stock valued at $2,147,000 after buying an additional 40 shares during the period. Institutional investors own 84.09% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SPOT shares. UBS Group lifted their price objective on shares of Spotify Technology from $375.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Barclays lifted 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. Wells Fargo & Company increased their price objective on shares of Spotify Technology from $420.00 to $470.00 and gave the stock an “overweight” rating in a research report on Monday. DZ Bank raised Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 target price for the company in a research report on Wednesday, July 24th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $385.00 price target (up previously from $242.00) on shares of Spotify Technology in a report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $376.21.

Spotify Technology Stock Performance

NYSE:SPOT opened at $385.15 on Friday. The company has a market capitalization of $76.66 billion, a P/E ratio of 157.20 and a beta of 1.58. The business has a fifty day simple moving average of $360.59 and a two-hundred day simple moving average of $328.12. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.56 and a quick ratio of 1.56. Spotify Technology S.A. has a 1 year low of $161.39 and a 1 year high of $397.20.

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.