HighTower Advisors LLC Buys 834 Shares of Spotify Technology S.A. (NYSE:SPOT)

HighTower Advisors LLC increased its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 5.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,383 shares of the company’s stock after acquiring an additional 834 shares during the quarter. HighTower Advisors LLC’s holdings in Spotify Technology were worth $7,777,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Prestige Wealth Management Group LLC bought a new position in Spotify Technology during the 3rd quarter worth approximately $26,000. Hobbs Group Advisors LLC bought a new position in Spotify Technology during the 3rd quarter worth approximately $33,000. Larson Financial Group LLC grew its position in Spotify Technology by 51.6% during the 3rd 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 last quarter. Quent Capital LLC grew its position in Spotify Technology by 135.7% during the 4th quarter. Quent Capital LLC now owns 99 shares of the company’s stock worth $44,000 after acquiring an additional 57 shares during the last quarter. Finally, Noble Wealth Management PBC bought a new position in Spotify Technology during the 4th quarter worth approximately $52,000. 84.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on SPOT shares. Redburn Atlantic assumed coverage on Spotify Technology in a research report on Tuesday, March 11th. They set a “neutral” rating and a $545.00 price target on the stock. Macquarie lifted their price objective on Spotify Technology from $500.00 to $600.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. UBS Group lifted their price objective on Spotify Technology from $485.00 to $540.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Citigroup lifted their price objective on Spotify Technology from $540.00 to $720.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Finally, The Goldman Sachs Group lifted their price objective on Spotify Technology from $550.00 to $695.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Eight investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $540.68.

Spotify Technology Trading Up 4.0 %

Shares of NYSE:SPOT opened at $597.78 on Tuesday. The stock has a fifty day simple moving average of $557.92 and a two-hundred day simple moving average of $462.95. The stock has a market capitalization of $122.37 billion, a price-to-earnings ratio of 100.47 and a beta of 1.66. Spotify Technology S.A. has a 12-month low of $249.58 and a 12-month high of $652.63.

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.