10,000 Shares in Spotify Technology S.A. (NYSE:SPOT) Purchased by SPX Gestao de Recursos Ltda

SPX Gestao de Recursos Ltda purchased a new position in Spotify Technology S.A. (NYSE:SPOT) in the 4th quarter, Holdings Channel.com reports. The firm purchased 10,000 shares of the company’s stock, valued at approximately $4,474,000.

Several other large investors have also recently added to or reduced their stakes in the company. Auxano Advisors LLC grew its stake in Spotify Technology by 2.5% during the fourth quarter. Auxano Advisors LLC now owns 828 shares of the company’s stock worth $370,000 after buying an additional 20 shares during the last quarter. SRS Capital Advisors Inc. grew its stake in Spotify Technology by 4.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 573 shares of the company’s stock worth $256,000 after buying an additional 25 shares during the last quarter. First Horizon Advisors Inc. grew its stake in Spotify Technology by 5.8% during the third quarter. First Horizon Advisors Inc. now owns 478 shares of the company’s stock worth $176,000 after buying an additional 26 shares during the last quarter. Cookson Peirce & Co. Inc. grew its stake in Spotify Technology by 1.9% during the fourth quarter. Cookson Peirce & Co. Inc. now owns 1,467 shares of the company’s stock worth $656,000 after buying an additional 27 shares during the last quarter. Finally, Joel Isaacson & Co. LLC grew its stake in Spotify Technology by 1.9% during the fourth quarter. Joel Isaacson & Co. LLC now owns 1,559 shares of the company’s stock worth $697,000 after buying an additional 29 shares during the last quarter. 84.09% of the stock is owned by institutional investors.

Spotify Technology Stock Performance

SPOT opened at $488.00 on Tuesday. The firm’s fifty day moving average is $548.54 and its two-hundred day moving average is $455.47. The firm has a market cap of $99.90 billion, a PE ratio of 82.02 and a beta of 1.66. Spotify Technology S.A. has a twelve month low of $249.58 and a twelve month high of $652.63.

Analysts Set New Price Targets

Several analysts have weighed in on SPOT shares. Guggenheim reaffirmed a “buy” rating and set a $675.00 price objective on shares of Spotify Technology in a research note on Monday, February 24th. Wolfe Research reissued a “peer perform” rating on shares of Spotify Technology in a research note on Friday, January 17th. Morgan Stanley increased their price target on shares of Spotify Technology from $550.00 to $670.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. 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. Finally, TD Cowen increased their price target on shares of Spotify Technology from $356.00 to $416.00 and gave the company a “hold” rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, Spotify Technology currently has a consensus rating of “Moderate Buy” and a consensus price target 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.