New York Life Investment Management LLC Acquires Shares of 535 Spotify Technology S.A. (NYSE:SPOT)

New York Life Investment Management LLC acquired a new stake in Spotify Technology S.A. (NYSE:SPOT) during the fourth quarter, Holdings Channel.com reports. The fund acquired 535 shares of the company’s stock, valued at approximately $239,000.

A number of other large investors have also recently made changes to their positions in SPOT. Prestige Wealth Management Group LLC bought a new position in shares of Spotify Technology during the third quarter valued at about $26,000. Hobbs Group Advisors LLC bought a new position in shares of Spotify Technology during the third quarter valued at about $33,000. Larson Financial Group LLC lifted its position in shares of Spotify Technology by 51.6% during the third quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock valued at $36,000 after purchasing an additional 33 shares in the last quarter. Rakuten Securities Inc. lifted its position in shares of Spotify Technology by 40.5% during the third quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock valued at $41,000 after purchasing an additional 32 shares in the last quarter. Finally, Quent Capital LLC lifted its position in shares of Spotify Technology by 135.7% during the fourth quarter. Quent Capital LLC now owns 99 shares of the company’s stock valued at $44,000 after purchasing an additional 57 shares in the last quarter. 84.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SPOT shares. Morgan Stanley raised their price target on shares of Spotify Technology from $550.00 to $670.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Rosenblatt Securities reissued a “neutral” rating and set a $658.00 price target (up from $473.00) on shares of Spotify Technology in a research report on Wednesday, February 5th. UBS Group raised their price target on shares of Spotify Technology from $485.00 to $540.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Piper Sandler raised their price objective on shares of Spotify Technology from $330.00 to $450.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, Spotify Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $529.43.

Spotify Technology Trading Up 0.4 %

Shares of NYSE:SPOT opened at $586.51 on Thursday. The company has a 50 day moving average of $544.65 and a 200 day moving average of $451.00. The stock has a market cap of $120.06 billion, a P/E ratio of 98.57 and a beta of 1.66. Spotify Technology S.A. has a 12 month low of $249.58 and a 12 month high of $652.63.

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.