SVB Wealth LLC Takes Position in Spotify Technology S.A. (NYSE:SPOT)

SVB Wealth LLC bought a new stake in shares of Spotify Technology S.A. (NYSE:SPOT) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 508 shares of the company’s stock, valued at approximately $227,000.

A number of other large investors have also recently 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 Spotify Technology in the third quarter worth about $33,000. Larson Financial Group LLC lifted its stake in Spotify Technology by 51.6% in the third quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock worth $36,000 after acquiring an additional 33 shares during the period. Rakuten Securities Inc. lifted its stake in Spotify Technology by 40.5% in the third quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock worth $41,000 after acquiring an additional 32 shares during the period. Finally, Quent Capital LLC lifted its stake in Spotify Technology by 135.7% in the fourth quarter. Quent Capital LLC now owns 99 shares of the company’s stock worth $44,000 after acquiring an additional 57 shares during the period. 84.09% of the stock is owned by hedge funds and other institutional investors.

Spotify Technology Stock Up 0.4 %

SPOT opened at $586.51 on Thursday. Spotify Technology S.A. has a 52-week low of $249.58 and a 52-week high of $652.63. The firm’s 50-day moving average price is $544.65 and its 200-day moving average price is $451.00. The company has a market cap of $120.06 billion, a P/E ratio of 98.57 and a beta of 1.66.

Wall Street Analysts Forecast Growth

SPOT has been the subject of a number of research reports. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $480.00 price objective (down from $490.00) on shares of Spotify Technology in a research note on Tuesday, January 28th. Macquarie upped their price objective on shares of Spotify Technology from $500.00 to $600.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Citigroup upped their price objective on shares of Spotify Technology from $540.00 to $720.00 and gave the stock a “neutral” rating in a research note 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 research note on Wednesday, February 5th. Finally, TD Cowen upped their price objective on shares of Spotify Technology from $356.00 to $416.00 and gave the stock a “hold” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.