Spotify Technology Sees Unusually Large Options Volume (NYSE:SPOT)

Spotify Technology S.A. (NYSE:SPOT) was the target of unusually large options trading on Thursday. Investors acquired 25,696 call options on the stock. This is an increase of 78% compared to the typical volume of 14,444 call options.

Institutional Trading of Spotify Technology

Institutional investors and hedge funds have recently made changes to their positions in the company. First Horizon Advisors Inc. boosted its holdings in Spotify Technology by 5.8% in the third quarter. First Horizon Advisors Inc. now owns 478 shares of the company’s stock valued at $176,000 after acquiring an additional 26 shares during the last quarter. West Bancorporation Inc. increased its holdings in shares of Spotify Technology by 3.4% during the third quarter. West Bancorporation Inc. now owns 827 shares of the company’s stock valued at $305,000 after acquiring an additional 27 shares in the last quarter. Avior Wealth Management LLC raised its holdings in Spotify Technology by 12.0% during the third quarter. Avior Wealth Management LLC now owns 281 shares of the company’s stock worth $104,000 after buying an additional 30 shares during the last quarter. Washington Trust Advisors Inc. raised its stake in shares of Spotify Technology by 12.0% in the third quarter. Washington Trust Advisors Inc. now owns 299 shares of the company’s stock worth $110,000 after purchasing an additional 32 shares during the last quarter. Finally, Rakuten Securities Inc. grew its stake in shares of Spotify Technology by 40.5% in the 3rd quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock worth $41,000 after acquiring an additional 32 shares in the last quarter. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Performance

Shares of Spotify Technology stock traded down $5.11 during trading on Friday, hitting $472.39. 213,369 shares of the stock were exchanged, compared to its average volume of 1,923,397. 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 company has a fifty day moving average price of $375.44 and a 200-day moving average price of $336.64. Spotify Technology has a 1-year low of $170.62 and a 1-year high of $489.69. The stock has a market capitalization of $94.03 billion, a price-to-earnings ratio of 128.37 and a beta of 1.56.

Analyst Ratings Changes

SPOT has been the subject of a number of research analyst reports. Evercore ISI raised their target price on Spotify Technology from $420.00 to $460.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Guggenheim lifted their price target on Spotify Technology from $400.00 to $420.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Wells Fargo & Company boosted their target price on Spotify Technology from $470.00 to $520.00 and gave the stock an “overweight” rating in a research report on Wednesday. DZ Bank raised Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 price target for the company in a report on Wednesday, July 24th. Finally, Bank of America boosted their price target on Spotify Technology from $430.00 to $515.00 and gave the company a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $421.69.

Spotify Technology Company 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.