Spotify Technology S.A. (NYSE:SPOT) Shares Acquired by Wealthfront Advisers LLC

Wealthfront Advisers LLC raised its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 42.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,125 shares of the company’s stock after purchasing an additional 336 shares during the period. Wealthfront Advisers LLC’s holdings in Spotify Technology were worth $503,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in SPOT. Prestige Wealth Management Group LLC purchased a new stake in shares of Spotify Technology during the third quarter valued at $26,000. Hobbs Group Advisors LLC purchased a new stake in shares of Spotify Technology during the third quarter valued at $33,000. Larson Financial Group LLC grew its holdings 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 buying an additional 33 shares during the last quarter. Quent Capital LLC grew its holdings 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 buying an additional 57 shares during the last quarter. Finally, Noble Wealth Management PBC purchased a new stake in shares of Spotify Technology during the fourth quarter valued at $52,000. 84.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SPOT has been the topic of a number of research analyst reports. Redburn Atlantic initiated coverage on shares of Spotify Technology in a report on Tuesday, March 11th. They set a “neutral” rating and a $545.00 price objective on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $480.00 price target (down from $490.00) on shares of Spotify Technology in a report on Tuesday, January 28th. Wolfe Research reaffirmed a “peer perform” rating on shares of Spotify Technology in a report on Friday, January 17th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $658.00 price target (up from $473.00) on shares of Spotify Technology in a report on Wednesday, February 5th. Finally, Morgan Stanley upped their price target on shares of Spotify Technology from $550.00 to $670.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Eight investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $540.68.

Spotify Technology Stock Up 7.1 %

SPOT opened at $576.02 on Monday. Spotify Technology S.A. has a twelve month low of $249.58 and a twelve month high of $652.63. The company has a 50-day moving average price of $555.35 and a 200 day moving average price of $461.13. The company has a market cap of $117.92 billion, a PE ratio of 96.81 and a beta of 1.66.

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.