Prime Capital Investment Advisors LLC increased its holdings in shares of Spotify (NASDAQ:SPOT) by 10.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 733 shares of the company’s stock after buying an additional 71 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Spotify were worth $107,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of the company. Oppenheimer Asset Management Inc. grew its position in shares of Spotify by 645.6% during the first quarter. Oppenheimer Asset Management Inc. now owns 768 shares of the company’s stock worth $107,000 after buying an additional 665 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in shares of Spotify during the first quarter worth about $286,000. Bank of Montreal Can grew its position in shares of Spotify by 105.6% during the first quarter. Bank of Montreal Can now owns 79,608 shares of the company’s stock worth $11,050,000 after buying an additional 40,886 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in shares of Spotify during the first quarter worth about $766,000. Finally, SG Americas Securities LLC grew its position in shares of Spotify by 137.6% during the first quarter. SG Americas Securities LLC now owns 2,745 shares of the company’s stock worth $381,000 after buying an additional 10,052 shares in the last quarter.
Shares of NASDAQ SPOT opened at $138.02 on Friday. Spotify has a twelve month low of $103.29 and a twelve month high of $196.95. The stock has a 50 day moving average of $150.11 and a two-hundred day moving average of $142.12.
SPOT has been the subject of a number of analyst reports. Raymond James boosted their price objective on Spotify from $172.00 to $180.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 25th. UBS Group downgraded Spotify from a “buy” rating to a “hold” rating and lowered their price target for the company from $155.00 to $150.00 in a report on Wednesday, July 31st. Pivotal Research reaffirmed a “hold” rating and issued a $150.00 price target (down from $155.00) on shares of Spotify in a report on Wednesday, July 31st. Loop Capital raised Spotify from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Zacks Investment Research downgraded Spotify from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $169.09.
Spotify Technology SA is an innovative digital music service offering music fans instant access to a world of music. The company enables on-demand streaming of audio content and aim to combat music piracy by offering a user experience, while monetizing licensed content with both an ad-supported, free-to-the-user model and a premium, paid model.
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