Callan Family Office LLC Invests $617,000 in Spotify Technology S.A. (NYSE:SPOT)

Callan Family Office LLC acquired a new position in shares of Spotify Technology S.A. (NYSE:SPOT) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,380 shares of the company’s stock, valued at approximately $617,000.

Several other hedge funds also recently modified their holdings of SPOT. Prestige Wealth Management Group LLC bought a new stake in shares of Spotify Technology during the third quarter valued at approximately $26,000. Hobbs Group Advisors LLC bought a new stake in shares of Spotify Technology during the third quarter valued at approximately $33,000. Larson Financial Group LLC grew its stake 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 during the last quarter. Rakuten Securities Inc. grew its stake 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 during the last quarter. Finally, Quent Capital LLC grew its stake 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 during the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Stock Down 2.3 %

Shares of NYSE:SPOT opened at $531.15 on Monday. Spotify Technology S.A. has a 12 month low of $249.58 and a 12 month high of $652.63. The company’s fifty day simple moving average is $547.82 and its 200 day simple moving average is $454.45. The firm has a market cap of $108.73 billion, a price-to-earnings ratio of 89.27 and a beta of 1.66.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. UBS Group increased their price target on shares of Spotify Technology from $485.00 to $540.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Citigroup increased their price target on shares of Spotify Technology from $540.00 to $720.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Benchmark increased their price target on shares of Spotify Technology from $600.00 to $720.00 and gave the company a “buy” rating in a research note on Wednesday, February 5th. Macquarie raised their price objective on shares of Spotify Technology from $500.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Finally, Phillip Securities reaffirmed an “accumulate” rating and issued a $485.00 price objective (up from $420.00) on shares of Spotify Technology in a research note on Wednesday, November 13th. 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 company. Based on data from MarketBeat, Spotify Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $529.43.

Spotify Technology Company 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.