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

Plato Investment Management Ltd boosted its stake in Spotify Technology (NYSE:SPOT) by 12.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,661 shares of the company’s stock after purchasing an additional 502 shares during the period. Plato Investment Management Ltd’s holdings in Spotify Technology were worth $3,563,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Sound Income Strategies LLC raised its stake in shares of Spotify Technology by 156.3% during the second quarter. Sound Income Strategies LLC now owns 41 shares of the company’s stock valued at $31,000 after acquiring an additional 25 shares during the last quarter. GFG Capital LLC acquired a new stake in shares of Spotify Technology in the second quarter valued at about $33,000. Cornerstone Planning Group LLC increased its stake in shares of Spotify Technology by 512.5% in the first quarter. Cornerstone Planning Group LLC now owns 49 shares of the company’s stock valued at $29,000 after buying an additional 41 shares during the period. Avion Wealth acquired a new stake in shares of Spotify Technology in the second quarter valued at about $38,000. Finally, Truvestments Capital LLC acquired a new stake in shares of Spotify Technology in the first quarter valued at about $34,000. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SPOT has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft increased their price target on 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 Exane began coverage on shares of Spotify Technology in a research report on Tuesday, September 16th. They set an “outperform” rating and a $900.00 price target on the stock. DZ Bank raised shares of Spotify Technology from a “sell” rating to a “hold” rating and set a $652.00 price target on the stock in a research report on Wednesday, July 30th. Benchmark cut their price target on shares of Spotify Technology from $840.00 to $800.00 and set a “buy” rating on the stock in a research report on Wednesday, July 30th. Finally, Barclays cut their price target on shares of Spotify Technology from $800.00 to $750.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $731.81.

Spotify Technology Stock Down 0.3%

Shares of NYSE SPOT opened at $654.99 on Friday. The firm has a market cap of $134.08 billion, a PE ratio of 158.98, a P/E/G ratio of 3.45 and a beta of 1.67. Spotify Technology has a 12-month low of $376.04 and a 12-month high of $785.00. The company’s fifty day simple moving average is $691.63 and its 200 day simple moving average is $681.09.

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.