Regal Partners Ltd Purchases New Stake in Spotify Technology $SPOT

Regal Partners Ltd acquired a new position in shares of Spotify Technology (NYSE:SPOT) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 769 shares of the company’s stock, valued at approximately $590,000.

Several other large investors also recently made changes to their positions in SPOT. Joel Isaacson & Co. LLC boosted its position in Spotify Technology by 1.0% during the 2nd quarter. Joel Isaacson & Co. LLC now owns 1,551 shares of the company’s stock worth $1,190,000 after purchasing an additional 15 shares during the period. Ignite Planners LLC raised its position in Spotify Technology by 2.4% in the second quarter. Ignite Planners LLC now owns 637 shares of the company’s stock valued at $489,000 after purchasing an additional 15 shares during the period. Hartford Investment Management Co. lifted its stake in shares of Spotify Technology by 1.1% during the first quarter. Hartford Investment Management Co. now owns 1,449 shares of the company’s stock worth $797,000 after purchasing an additional 16 shares in the last quarter. Stonekeep Investments LLC lifted its stake in shares of Spotify Technology by 2.1% during the second quarter. Stonekeep Investments LLC now owns 773 shares of the company’s stock worth $593,000 after purchasing an additional 16 shares in the last quarter. Finally, Moody National Bank Trust Division lifted its stake in shares of Spotify Technology by 0.5% during the second quarter. Moody National Bank Trust Division now owns 2,931 shares of the company’s stock worth $2,249,000 after purchasing an additional 16 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on SPOT. KeyCorp reduced their price objective on Spotify Technology from $860.00 to $830.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 30th. BNP Paribas upgraded Spotify Technology to a “strong-buy” rating in a report on Tuesday, September 16th. Argus assumed coverage on Spotify Technology in a report on Monday, September 29th. They issued a “buy” rating and a $845.00 price target for the company. Phillip Securities upgraded Spotify Technology from a “moderate sell” rating to a “hold” rating in a report on Monday, August 4th. Finally, UBS Group decreased their price target on Spotify Technology from $895.00 to $850.00 and set a “buy” rating for the company in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, Spotify Technology currently has an average rating of “Moderate Buy” and a consensus price target of $731.81.

Spotify Technology Trading Down 0.3%

Spotify Technology stock opened at $654.99 on Friday. The stock has a market cap of $134.08 billion, a P/E ratio of 158.98, a price-to-earnings-growth ratio of 3.45 and a beta of 1.67. The stock has a 50 day moving average of $691.63 and a 200-day moving average of $681.09. Spotify Technology has a 52 week low of $376.04 and a 52 week high of $785.00.

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.