Spotify Technology (NYSE:SPOT) Given New $440.00 Price Target at Deutsche Bank Aktiengesellschaft

Spotify Technology (NYSE:SPOT) had its price objective hoisted by Deutsche Bank Aktiengesellschaft from $430.00 to $440.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts also recently weighed in on the stock. Wolfe Research assumed coverage on shares of Spotify Technology in a report on Friday, July 12th. They issued an “outperform” rating and a $390.00 target price on the stock. Pivotal Research lifted their price objective on Spotify Technology from $460.00 to $510.00 and gave the company a “buy” rating in a report on Thursday, September 19th. JPMorgan Chase & Co. boosted their target price on Spotify Technology from $375.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Cantor Fitzgerald reissued a “neutral” rating and issued a $340.00 price target on shares of Spotify Technology in a report on Monday, October 7th. Finally, Redburn Atlantic restated a “sell” rating and issued a $230.00 price target on shares of Spotify Technology in a research note on Wednesday, July 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat.com, Spotify Technology currently has an average rating of “Moderate Buy” and a consensus price target of $379.79.

Spotify Technology Price Performance

Shares of NYSE SPOT opened at $400.68 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.56 and a quick ratio of 1.56. The company has a market cap of $79.76 billion, a PE ratio of 163.54 and a beta of 1.56. The stock has a fifty day moving average price of $366.54 and a 200 day moving average price of $332.40. Spotify Technology has a 1-year low of $167.64 and a 1-year high of $405.93.

Institutional Trading of Spotify Technology

Large investors have recently made changes to their positions in the stock. WCM Investment Management LLC lifted its holdings in Spotify Technology by 18.5% in the 3rd quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock valued at $1,430,142,000 after purchasing an additional 605,755 shares in the last quarter. GQG Partners LLC purchased a new position in shares of Spotify Technology during the first quarter valued at approximately $610,040,000. Bamco Inc. NY boosted its position in Spotify Technology by 28.3% during the first quarter. Bamco Inc. NY now owns 864,584 shares of the company’s stock worth $228,164,000 after acquiring an additional 190,931 shares during the last quarter. Swedbank AB grew its stake in Spotify Technology by 13.2% in the 2nd quarter. Swedbank AB now owns 852,526 shares of the company’s stock worth $267,514,000 after acquiring an additional 99,730 shares during the period. Finally, Perpetual Ltd grew its stake in Spotify Technology by 24.3% in the 3rd quarter. Perpetual Ltd now owns 759,681 shares of the company’s stock worth $279,965,000 after acquiring an additional 148,431 shares during the period. Institutional investors and hedge funds own 84.09% of the company’s stock.

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.