Mariner LLC Grows Position in Spotify Technology S.A. (NYSE:SPOT)

Mariner LLC raised its holdings in Spotify Technology S.A. (NYSE:SPOT) by 6.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,362 shares of the company’s stock after acquiring an additional 979 shares during the quarter. Mariner LLC’s holdings in Spotify Technology were worth $7,320,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Hillsdale Investment Management Inc. purchased a new stake in Spotify Technology during the fourth quarter worth $27,000. Quent Capital LLC boosted its position in shares of Spotify Technology by 135.7% in the 4th quarter. Quent Capital LLC now owns 99 shares of the company’s stock worth $44,000 after buying an additional 57 shares in the last quarter. Noble Wealth Management PBC acquired a new stake in Spotify Technology in the 4th quarter valued at about $52,000. Strategic Financial Concepts LLC purchased a new position in Spotify Technology during the 4th quarter valued at about $56,000. Finally, Larson Financial Group LLC raised its position in Spotify Technology by 48.5% during the fourth quarter. Larson Financial Group LLC now owns 144 shares of the company’s stock worth $64,000 after acquiring an additional 47 shares during the last quarter. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Cantor Fitzgerald lowered their price target on shares of Spotify Technology from $600.00 to $520.00 and set a “neutral” rating on the stock in a research report on Wednesday. Macquarie raised their price target on Spotify Technology from $500.00 to $600.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Wolfe Research restated a “peer perform” rating on shares of Spotify Technology in a research report on Friday, January 17th. Benchmark lifted their price objective on Spotify Technology from $600.00 to $720.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. Finally, Wells Fargo & Company upped their target price on shares of Spotify Technology from $690.00 to $740.00 and gave the company an “overweight” rating in a report on Friday, March 28th. Nine investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $564.45.

Spotify Technology Stock Performance

Spotify Technology stock opened at $574.85 on Friday. Spotify Technology S.A. has a one year low of $267.76 and a one year high of $652.63. The stock’s 50 day moving average price is $575.74 and its 200 day moving average price is $498.86. The firm has a market capitalization of $117.68 billion, a PE ratio of 96.61 and a beta of 1.75.

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.