Zions Bancorporation N.A. Increases Stake in Spotify Technology S.A. (NYSE:SPOT)

Zions Bancorporation N.A. grew its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 5.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,170 shares of the company’s stock after buying an additional 64 shares during the period. Zions Bancorporation N.A.’s holdings in Spotify Technology were worth $431,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of SPOT. Transcendent Capital Group LLC bought a new stake in Spotify Technology in the 2nd quarter worth about $25,000. Benjamin Edwards Inc. lifted its holdings in shares of Spotify Technology by 214.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock valued at $27,000 after buying an additional 58 shares during the period. Mather Group LLC. grew its holdings in shares of Spotify Technology by 9,900.0% in the second quarter. Mather Group LLC. now owns 100 shares of the company’s stock worth $31,000 after acquiring an additional 99 shares during the period. Asset Dedication LLC purchased a new stake in Spotify Technology during the second quarter valued at $35,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Spotify Technology in the second quarter worth about $39,000. 84.09% of the stock is owned by hedge funds and other institutional investors.

Spotify Technology Price Performance

SPOT stock opened at $458.49 on Friday. The stock has a market capitalization of $91.26 billion, a price-to-earnings ratio of 124.59 and a beta of 1.56. The stock’s fifty day simple moving average is $375.44 and its 200-day simple moving average is $336.64. Spotify Technology S.A. has a 52-week low of $170.62 and a 52-week high of $489.69. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.31.

Analysts Set New Price Targets

SPOT has been the subject of several recent analyst reports. Bank of America upped their target price on shares of Spotify Technology from $430.00 to $515.00 and gave the stock a “buy” rating in a report on Wednesday. TD Cowen lifted their price target on shares of Spotify Technology from $356.00 to $416.00 and gave the company a “hold” rating in a research note on Wednesday. Phillip Securities restated an “accumulate” rating and issued a $485.00 price objective (up from $420.00) on shares of Spotify Technology in a report on Wednesday. Rosenblatt Securities upped their price target on shares of Spotify Technology from $399.00 to $438.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat, Spotify Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $421.69.

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.