Geneva Partners LLC Takes $1.70 Million Position in Spotify Technology S.A. (NYSE:SPOT)

Geneva Partners LLC bought a new position in Spotify Technology S.A. (NYSE:SPOT) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 4,607 shares of the company’s stock, valued at approximately $1,698,000.

Other large investors have also recently modified their holdings of the company. Larson Financial Group LLC lifted its holdings in Spotify Technology by 86.0% during the 1st quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock valued at $25,000 after buying an additional 43 shares in the last quarter. Transcendent Capital Group LLC bought a new stake in Spotify Technology during the 2nd quarter valued at $25,000. Benjamin Edwards Inc. lifted its holdings in shares of Spotify Technology by 214.8% in the 2nd quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock worth $27,000 after buying an additional 58 shares during the period. Mather Group LLC. increased its stake in shares of Spotify Technology by 9,900.0% during the second quarter. Mather Group LLC. now owns 100 shares of the company’s stock valued at $31,000 after buying an additional 99 shares during the period. Finally, Asset Dedication LLC purchased a new position in shares of Spotify Technology during the second quarter valued at $35,000. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Performance

NYSE SPOT opened at $377.73 on Tuesday. The stock has a fifty day simple moving average of $362.26 and a 200-day simple moving average of $329.85. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.31. The stock has a market cap of $75.19 billion, a PE ratio of 154.18 and a beta of 1.56. Spotify Technology S.A. has a twelve month low of $164.83 and a twelve month high of $397.20.

Wall Street Analysts Forecast Growth

SPOT has been the topic of several recent research reports. Wells Fargo & Company increased their target price on shares of Spotify Technology from $420.00 to $470.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. UBS Group increased 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. JPMorgan Chase & Co. boosted their price objective on shares of Spotify Technology from $375.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Rosenblatt Securities increased their target price on Spotify Technology from $399.00 to $438.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Finally, TD Cowen increased their target price on shares of Spotify Technology from $273.00 to $356.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. 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 MarketBeat.com, Spotify Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $376.21.

About Spotify Technology

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.