Petra Financial Advisors Inc. purchased a new stake in Spotify Technology S.A. (NYSE:SPOT – Free Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,528 shares of the company’s stock, valued at approximately $563,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Meitav Investment House Ltd. bought a new position in Spotify Technology in the 3rd quarter worth approximately $209,000. Financial Advocates Investment Management grew its position in shares of Spotify Technology by 4.4% during the 3rd quarter. Financial Advocates Investment Management now owns 1,116 shares of the company’s stock worth $411,000 after buying an additional 47 shares during the period. Oak Harvest Investment Services increased its stake in Spotify Technology by 46.5% in the third quarter. Oak Harvest Investment Services now owns 6,235 shares of the company’s stock valued at $2,298,000 after purchasing an additional 1,978 shares in the last quarter. First Trust Direct Indexing L.P. increased its position in shares of Spotify Technology by 48.5% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 1,206 shares of the company’s stock valued at $444,000 after buying an additional 394 shares in the last quarter. Finally, New York State Teachers Retirement System lifted its holdings in Spotify Technology by 47.4% during the third quarter. New York State Teachers Retirement System now owns 2,705 shares of the company’s stock worth $997,000 after acquiring an additional 870 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.
Spotify Technology Stock Performance
Shares of NYSE SPOT traded down $2.55 during trading hours on Thursday, reaching $391.47. 220,992 shares of the stock were exchanged, compared to its average volume of 1,837,333. The firm has a market capitalization of $74.46 billion, a price-to-earnings ratio of -587.66 and a beta of 1.58. The stock’s fifty day simple moving average is $359.73 and its 200 day simple moving average is $327.72. 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 52 week low of $161.39 and a 52 week high of $397.20.
Wall Street Analyst Weigh In
Check Out Our Latest Analysis on SPOT
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.
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