651 Shares in Spotify Technology S.A. (NYSE:SPOT) Purchased by PDS Planning Inc

PDS Planning Inc acquired a new position in shares of Spotify Technology S.A. (NYSE:SPOT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 651 shares of the company’s stock, valued at approximately $291,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Auxano Advisors LLC grew its holdings in Spotify Technology by 2.5% during the 4th quarter. Auxano Advisors LLC now owns 828 shares of the company’s stock worth $370,000 after acquiring an additional 20 shares during the last quarter. SRS Capital Advisors Inc. grew its holdings in Spotify Technology by 4.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 573 shares of the company’s stock worth $256,000 after acquiring an additional 25 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in Spotify Technology by 5.8% during the 3rd quarter. First Horizon Advisors Inc. now owns 478 shares of the company’s stock worth $176,000 after acquiring an additional 26 shares during the last quarter. Harbour Investments Inc. grew its holdings in Spotify Technology by 13.3% during the 4th quarter. Harbour Investments Inc. now owns 222 shares of the company’s stock worth $99,000 after acquiring an additional 26 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. grew its holdings in Spotify Technology by 1.9% during the 4th quarter. Cookson Peirce & Co. Inc. now owns 1,467 shares of the company’s stock worth $656,000 after acquiring an additional 27 shares during the last quarter. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Performance

Shares of SPOT stock opened at $569.63 on Wednesday. The company has a market capitalization of $116.61 billion, a P/E ratio of 95.74 and a beta of 1.66. The company’s 50 day moving average price is $560.06 and its two-hundred day moving average price is $464.55. Spotify Technology S.A. has a 52 week low of $249.58 and a 52 week high of $652.63.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on SPOT shares. Morgan Stanley increased their price objective on shares of Spotify Technology from $550.00 to $670.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Macquarie raised their target price on shares of Spotify Technology from $500.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Wolfe Research reaffirmed a “peer perform” rating on shares of Spotify Technology in a research note on Friday, January 17th. The Goldman Sachs Group raised their target price on shares of Spotify Technology from $550.00 to $695.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Finally, Benchmark raised their target price on shares of Spotify Technology from $600.00 to $720.00 and gave the company a “buy” rating in a research note on Wednesday, February 5th. Eight analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $540.68.

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.