Principal Securities Inc. Has $549,000 Stock Holdings in Spotify Technology S.A. (NYSE:SPOT)

Principal Securities Inc. increased its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 45.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,227 shares of the company’s stock after purchasing an additional 386 shares during the quarter. Principal Securities Inc.’s holdings in Spotify Technology were worth $549,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. First Horizon Advisors Inc. boosted its stake in shares of Spotify Technology by 5.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 478 shares of the company’s stock valued at $176,000 after purchasing an additional 26 shares during the last quarter. West Bancorporation Inc. boosted its stake in shares of Spotify Technology by 3.4% in the 3rd quarter. West Bancorporation Inc. now owns 827 shares of the company’s stock valued at $305,000 after purchasing an additional 27 shares during the last quarter. Joel Isaacson & Co. LLC boosted its stake in shares of Spotify Technology by 1.9% in the 4th quarter. Joel Isaacson & Co. LLC now owns 1,559 shares of the company’s stock valued at $697,000 after purchasing an additional 29 shares during the last quarter. Avior Wealth Management LLC boosted its stake in shares of Spotify Technology by 12.0% in the 3rd quarter. Avior Wealth Management LLC now owns 281 shares of the company’s stock valued at $104,000 after purchasing an additional 30 shares during the last quarter. Finally, Park National Corp OH lifted its position in shares of Spotify Technology by 4.1% during the 4th quarter. Park National Corp OH now owns 793 shares of the company’s stock valued at $355,000 after acquiring an additional 31 shares during the period. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Stock Down 4.7 %

NYSE:SPOT opened at $606.98 on Friday. The company has a fifty day moving average of $523.55 and a 200 day moving average of $435.73. Spotify Technology S.A. has a 52 week low of $243.99 and a 52 week high of $652.63. The firm has a market capitalization of $120.82 billion, a P/E ratio of 102.01 and a beta of 1.63.

Analysts Set New Price Targets

A number of research firms recently issued reports on SPOT. Citigroup boosted their target price on shares of Spotify Technology from $540.00 to $720.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Morgan Stanley upped 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. Benchmark upped their price objective on shares of Spotify Technology from $600.00 to $720.00 and gave the stock a “buy” rating in a report on Wednesday, February 5th. Bank of America increased their target price on shares of Spotify Technology from $430.00 to $515.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, UBS Group increased their target price 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. One investment 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. According to MarketBeat.com, the company currently 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.