SRS Capital Advisors Inc. Raises Stock Position in Spotify Technology S.A. (NYSE:SPOT)

SRS Capital Advisors Inc. boosted its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 4.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 573 shares of the company’s stock after acquiring an additional 25 shares during the period. SRS Capital Advisors Inc.’s holdings in Spotify Technology were worth $256,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Prestige Wealth Management Group LLC purchased a new position in Spotify Technology during the third quarter valued at approximately $26,000. Hobbs Group Advisors LLC purchased a new position in Spotify Technology during the third quarter valued at approximately $33,000. Larson Financial Group LLC grew its stake in 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 acquiring an additional 33 shares in the last quarter. Rakuten Securities Inc. grew its stake in 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 acquiring an additional 32 shares in the last quarter. Finally, Quent Capital LLC lifted its position in 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 during the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Down 3.1 %

NYSE:SPOT opened at $581.48 on Wednesday. The company has a fifty day moving average of $542.15 and a 200 day moving average of $450.05. Spotify Technology S.A. has a 52 week low of $249.58 and a 52 week high of $652.63. The firm has a market capitalization of $119.03 billion, a P/E ratio of 97.73 and a beta of 1.66.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SPOT. UBS Group lifted their target price 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 lifted their target price on shares of Spotify Technology from $330.00 to $450.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Benchmark lifted their target price on shares of Spotify Technology from $600.00 to $720.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. The Goldman Sachs Group lifted their target price on shares of Spotify Technology from $550.00 to $695.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Finally, Phillip Securities reiterated an “accumulate” rating and set a $485.00 target price (up from $420.00) on shares of Spotify Technology in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, Spotify Technology has an average rating of “Moderate Buy” and an average target price 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.