Spotify Technology S.A. (NYSE:SPOT) Shares Acquired by WT Wealth Management

WT Wealth Management lifted its position in Spotify Technology S.A. (NYSE:SPOT) by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,965 shares of the company’s stock after buying an additional 135 shares during the quarter. WT Wealth Management’s holdings in Spotify Technology were worth $2,221,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FUKOKU MUTUAL LIFE INSURANCE Co purchased a new stake in Spotify Technology during the 4th quarter worth about $222,000. Gulf International Bank UK Ltd acquired a new stake in shares of Spotify Technology in the 4th quarter valued at about $5,003,000. Central Asset Investments & Management Holdings HK Ltd acquired a new stake in shares of Spotify Technology in the 4th quarter valued at about $325,000. K.J. Harrison & Partners Inc lifted its position in Spotify Technology by 100.0% during the 4th quarter. K.J. Harrison & Partners Inc now owns 10,000 shares of the company’s stock worth $4,578,000 after acquiring an additional 5,000 shares during the period. Finally, New York Life Investment Management LLC acquired a new stake in Spotify Technology during the 4th quarter worth approximately $239,000. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Trading Up 2.4 %

SPOT opened at $602.53 on Thursday. The company has a fifty day moving average price of $531.23 and a two-hundred day moving average price of $442.02. The company has a market cap of $119.94 billion, a P/E ratio of 101.27 and a beta of 1.63. Spotify Technology S.A. has a 1-year low of $249.38 and a 1-year high of $652.63.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on SPOT shares. The Goldman Sachs Group increased their target price on Spotify Technology from $550.00 to $695.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Wolfe Research restated a “peer perform” rating on shares of Spotify Technology in a report on Friday, January 17th. Deutsche Bank Aktiengesellschaft lifted their target price on Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Barclays raised their price objective on Spotify Technology from $475.00 to $710.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Finally, Pivotal Research lifted their target price on Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus 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.