United Capital Financial Advisors LLC Purchases 3,780 Shares of Spotify Technology S.A. (NYSE:SPOT)

United Capital Financial Advisors LLC increased its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 165.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,058 shares of the company’s stock after purchasing an additional 3,780 shares during the period. United Capital Financial Advisors LLC’s holdings in Spotify Technology were worth $2,710,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Jennison Associates LLC bought a new position in shares of Spotify Technology during the fourth quarter worth approximately $1,335,575,000. FMR LLC increased its stake in Spotify Technology by 30.2% during the 4th quarter. FMR LLC now owns 2,041,387 shares of the company’s stock worth $913,276,000 after acquiring an additional 473,569 shares during the period. Schroder Investment Management Group raised its holdings in Spotify Technology by 0.4% in the 4th quarter. Schroder Investment Management Group now owns 1,912,937 shares of the company’s stock valued at $855,810,000 after acquiring an additional 7,075 shares in the last quarter. GQG Partners LLC bought a new stake in shares of Spotify Technology during the 4th quarter valued at $800,725,000. Finally, Geode Capital Management LLC grew its holdings in shares of Spotify Technology by 561.6% during the 4th quarter. Geode Capital Management LLC now owns 1,483,392 shares of the company’s stock worth $659,841,000 after purchasing an additional 1,259,183 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Stock Up 2.1 %

Shares of NYSE SPOT opened at $574.85 on Friday. The company has a market capitalization of $117.68 billion, a PE ratio of 96.61 and a beta of 1.75. Spotify Technology S.A. has a twelve month low of $267.76 and a twelve month high of $652.63. The firm has a fifty day simple moving average of $576.70 and a 200 day simple moving average of $497.49.

Analyst Upgrades and Downgrades

SPOT has been the subject of several recent analyst reports. Rosenblatt Securities reaffirmed a “neutral” rating and set a $658.00 price objective (up previously from $473.00) on shares of Spotify Technology in a research report on Wednesday, February 5th. The Goldman Sachs Group upped their price target on shares of Spotify Technology from $550.00 to $695.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Macquarie lifted their price objective 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. Barclays upped their target price on Spotify Technology from $475.00 to $710.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Finally, KeyCorp decreased their price target on Spotify Technology from $675.00 to $625.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. Nine research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $564.45.

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.