508 Shares in Spotify Technology S.A. (NYSE:SPOT) Acquired by SVB Wealth LLC

SVB Wealth LLC acquired a new position in Spotify Technology S.A. (NYSE:SPOT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 508 shares of the company’s stock, valued at approximately $227,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Aigen Investment Management LP boosted its holdings 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 during the last quarter. Jennison Associates LLC purchased a new position in shares of Spotify Technology in the fourth quarter worth approximately $1,335,575,000. Marks Group Wealth Management Inc purchased a new position in shares of Spotify Technology in the fourth quarter worth approximately $535,000. Patriot Financial Group Insurance Agency LLC purchased a new position in shares of Spotify Technology in the fourth quarter worth approximately $214,000. Finally, Pathway Capital Management LP boosted its holdings 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 during the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Up 0.4 %

NYSE SPOT opened at $586.51 on Thursday. The company has a fifty day moving average of $544.65 and a two-hundred day moving average of $451.00. The firm has a market capitalization of $120.06 billion, a price-to-earnings ratio of 98.57 and a beta of 1.66. Spotify Technology S.A. has a 52 week low of $249.58 and a 52 week high of $652.63.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SPOT. Rosenblatt Securities reaffirmed a “neutral” rating and set a $658.00 price target (up previously from $473.00) on shares of Spotify Technology in a report on Wednesday, February 5th. KeyCorp lifted their price target on shares of Spotify Technology from $555.00 to $600.00 and gave the company an “overweight” rating in a report on Friday, January 31st. UBS Group lifted their price target on shares of Spotify Technology from $485.00 to $540.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, Piper Sandler lifted their price target 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 equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, Spotify Technology currently has an average rating of “Moderate Buy” and a consensus target price of $529.43.

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.