Colonial River Investments LLC Increases Holdings in Spotify Technology S.A. (NYSE:SPOT)

Colonial River Investments LLC grew its holdings in Spotify Technology S.A. (NYSE:SPOT) by 6.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,771 shares of the company’s stock after acquiring an additional 102 shares during the period. Colonial River Investments LLC’s holdings in Spotify Technology were worth $792,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in SPOT. Aigen Investment Management LP lifted its position in shares of Spotify Technology by 42.4% in the third quarter. Aigen Investment Management LP now owns 9,800 shares of the company’s stock worth $3,612,000 after buying an additional 2,918 shares in the last quarter. Jennison Associates LLC purchased a new stake in shares of Spotify Technology in the fourth quarter worth about $1,335,575,000. Marks Group Wealth Management Inc purchased a new stake in shares of Spotify Technology in the fourth quarter worth about $535,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of Spotify Technology in the fourth quarter worth about $214,000. Finally, Pathway Capital Management LP lifted its position in shares of Spotify Technology by 23.8% in the third quarter. Pathway Capital Management LP now owns 57,340 shares of the company’s stock worth $21,132,000 after buying an additional 11,042 shares in the last quarter. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Spotify Technology Stock Down 4.7 %

Shares of NYSE:SPOT opened at $606.98 on Monday. Spotify Technology S.A. has a 52-week low of $243.99 and a 52-week high of $652.63. The stock has a market cap of $120.82 billion, a P/E ratio of 102.01 and a beta of 1.63. The business’s 50 day moving average is $523.55 and its 200 day moving average is $437.29.

Wall Street Analyst Weigh In

A number of research firms recently commented on SPOT. Phillip Securities reiterated an “accumulate” rating and issued a $485.00 target price (up from $420.00) on shares of Spotify Technology in a research report on Wednesday, November 13th. Wolfe Research reissued a “peer perform” rating on shares of Spotify Technology in a research note on Friday, January 17th. Piper Sandler boosted their price objective on Spotify Technology from $330.00 to $450.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Canaccord Genuity Group boosted their price objective on Spotify Technology from $650.00 to $700.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. Finally, Benchmark boosted their price objective on Spotify Technology from $600.00 to $720.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, Spotify Technology has a consensus rating of “Moderate Buy” and an average 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.