WT Wealth Management Buys 135 Shares of Spotify Technology S.A. (NYSE:SPOT)

WT Wealth Management boosted its holdings in Spotify Technology S.A. (NYSE:SPOT) by 2.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,965 shares of the company’s stock after purchasing an additional 135 shares during the period. WT Wealth Management’s holdings in Spotify Technology were worth $2,221,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. FUKOKU MUTUAL LIFE INSURANCE Co acquired a new stake in shares of Spotify Technology during the 4th quarter worth about $222,000. Gulf International Bank UK Ltd bought a new position in Spotify Technology in the 4th quarter valued at about $5,003,000. Central Asset Investments & Management Holdings HK Ltd bought a new stake in shares of Spotify Technology during the 4th quarter valued at approximately $325,000. K.J. Harrison & Partners Inc grew its holdings in shares of Spotify Technology by 100.0% during the 4th quarter. K.J. Harrison & Partners Inc now owns 10,000 shares of the company’s stock valued at $4,578,000 after purchasing an additional 5,000 shares during the last quarter. Finally, New York Life Investment Management LLC acquired a new stake in Spotify Technology during the 4th quarter worth approximately $239,000. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Stock Up 2.4 %

Shares of NYSE:SPOT opened at $602.53 on Thursday. Spotify Technology S.A. has a 52-week low of $249.38 and a 52-week high of $652.63. The stock has a market cap of $119.94 billion, a price-to-earnings ratio of 101.27 and a beta of 1.63. The business has a 50-day moving average price of $531.23 and a 200-day moving average price of $442.02.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SPOT shares. Morgan Stanley boosted their price target on shares of Spotify Technology from $550.00 to $670.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Citigroup boosted their price target on shares of Spotify Technology from $540.00 to $720.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Canaccord Genuity Group upped their target price on shares of Spotify Technology from $650.00 to $700.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. JPMorgan Chase & Co. boosted their price target on shares of Spotify Technology from $555.00 to $730.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Finally, Piper Sandler upped their price objective on shares of Spotify Technology from $330.00 to $450.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $529.43.

About Spotify Technology

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.