Spotify Technology S.A. (NYSE:SPOT) Shares Acquired by D.A. Davidson & CO.

D.A. Davidson & CO. boosted its position in Spotify Technology S.A. (NYSE:SPOT) by 4.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,714 shares of the company’s stock after purchasing an additional 487 shares during the period. D.A. Davidson & CO.’s holdings in Spotify Technology were worth $4,793,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Prestige Wealth Management Group LLC acquired a new stake in Spotify Technology in the third quarter worth approximately $26,000. Hobbs Group Advisors LLC acquired a new stake in Spotify Technology in the third quarter worth approximately $33,000. Larson Financial Group LLC lifted its position in Spotify Technology by 51.6% in the third quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock worth $36,000 after purchasing an additional 33 shares during the period. Rakuten Securities Inc. lifted its position in Spotify Technology by 40.5% in the third quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock worth $41,000 after purchasing an additional 32 shares during the period. Finally, Quent Capital LLC lifted its position in Spotify Technology by 135.7% in the fourth quarter. Quent Capital LLC now owns 99 shares of the company’s stock worth $44,000 after purchasing an additional 57 shares during the period. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Stock Up 1.8 %

Spotify Technology stock opened at $641.78 on Thursday. The company’s fifty day simple moving average is $517.95 and its 200-day simple moving average is $432.35. Spotify Technology S.A. has a 12 month low of $239.66 and a 12 month high of $652.63. The stock has a market cap of $127.75 billion, a P/E ratio of 107.86 and a beta of 1.63.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SPOT shares. Pivotal Research upped their target price on Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. UBS Group upped their price target on Spotify Technology from $485.00 to $540.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Citigroup upped their price target on Spotify Technology from $540.00 to $720.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Guggenheim upped their price target on Spotify Technology from $520.00 to $675.00 and gave the company a “buy” rating in a report on Wednesday, February 5th. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Spotify Technology in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $529.43.

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.