West Bancorporation Inc. Acquires 27 Shares of Spotify Technology S.A. (NYSE:SPOT)

West Bancorporation Inc. increased its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 3.4% in the third quarter, Holdings Channel.com reports. The firm owned 827 shares of the company’s stock after purchasing an additional 27 shares during the quarter. West Bancorporation Inc.’s holdings in Spotify Technology were worth $305,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Custom Index Systems LLC increased its stake in Spotify Technology by 3.0% during the 3rd quarter. Custom Index Systems LLC now owns 1,150 shares of the company’s stock worth $424,000 after purchasing an additional 33 shares in the last quarter. Clearbridge Investments LLC increased its stake in Spotify Technology by 0.6% during the 1st quarter. Clearbridge Investments LLC now owns 6,892 shares of the company’s stock worth $1,819,000 after purchasing an additional 38 shares in the last quarter. Cigna Investments Inc. New grew its stake in shares of Spotify Technology by 3.3% during the 2nd quarter. Cigna Investments Inc. New now owns 1,260 shares of the company’s stock worth $395,000 after acquiring an additional 40 shares in the last quarter. Moody Lynn & Lieberson LLC grew its stake in shares of Spotify Technology by 0.6% during the 2nd quarter. Moody Lynn & Lieberson LLC now owns 6,843 shares of the company’s stock worth $2,147,000 after acquiring an additional 40 shares in the last quarter. Finally, Larson Financial Group LLC grew its stake in shares of Spotify Technology by 86.0% during the 1st quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock worth $25,000 after acquiring an additional 43 shares in the last quarter. 84.09% of the stock is owned by institutional investors.

Spotify Technology Price Performance

Shares of NYSE SPOT traded up $2.29 during mid-day trading on Friday, reaching $379.16. The company had a trading volume of 789,763 shares, compared to its average volume of 1,849,685. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.56 and a current ratio of 1.56. Spotify Technology S.A. has a one year low of $155.00 and a one year high of $389.48. The firm has a market cap of $72.12 billion, a price-to-earnings ratio of -565.91 and a beta of 1.58. The business’s 50-day simple moving average is $357.03 and its 200 day simple moving average is $325.86.

Wall Street Analyst Weigh In

SPOT has been the subject of several research reports. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $340.00 price target on shares of Spotify Technology in a research note on Monday, October 7th. Barclays raised their price target on shares of Spotify Technology from $350.00 to $360.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Jefferies Financial Group reaffirmed a “buy” rating and set a $385.00 price target (up from $242.00) on shares of Spotify Technology in a research note on Thursday, July 11th. JPMorgan Chase & Co. raised their price target on shares of Spotify Technology from $375.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Finally, UBS Group raised their price target on shares of Spotify Technology from $375.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat, Spotify Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $369.43.

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.