D.A. Davidson & CO. Acquires 487 Shares of Spotify Technology S.A. (NYSE:SPOT)

D.A. Davidson & CO. increased its holdings in Spotify Technology S.A. (NYSE:SPOT) by 4.8% in the fourth quarter, HoldingsChannel reports. The firm owned 10,714 shares of the company’s stock after purchasing an additional 487 shares during the period. D.A. Davidson & CO.’s holdings in Spotify Technology were worth $4,793,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of SPOT. Jennison Associates LLC bought a new stake in Spotify Technology in the fourth quarter worth $1,335,575,000. Forsta AP Fonden acquired a new stake in shares of Spotify Technology in the fourth quarter valued at about $619,600,000. WCM Investment Management LLC grew its position in shares of Spotify Technology by 18.5% in the third quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock valued at $1,430,142,000 after purchasing an additional 605,755 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Spotify Technology by 36,910.0% in the third quarter. International Assets Investment Management LLC now owns 347,524 shares of the company’s stock valued at $128,073,000 after purchasing an additional 346,585 shares during the last quarter. Finally, FMR LLC grew its position in shares of Spotify Technology by 23.4% in the third quarter. FMR LLC now owns 1,567,818 shares of the company’s stock valued at $577,788,000 after purchasing an additional 297,035 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Stock Up 1.8 %

Shares of SPOT opened at $641.78 on Thursday. Spotify Technology S.A. has a 12 month low of $239.66 and a 12 month high of $652.63. The company has a 50-day moving average price of $517.95 and a two-hundred day moving average price of $432.35. The stock has a market cap of $127.75 billion, a price-to-earnings ratio of 107.86 and a beta of 1.63.

Analyst Upgrades and Downgrades

SPOT has been the topic of several research analyst reports. Guggenheim raised their price target on Spotify Technology from $520.00 to $675.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. TD Cowen raised their price target on Spotify Technology from $356.00 to $416.00 and gave the company a “hold” rating in a research report on Wednesday, November 13th. Pivotal Research raised their price target on Spotify Technology from $510.00 to $565.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Wolfe Research reaffirmed a “peer perform” rating on shares of Spotify Technology in a research report on Friday, January 17th. Finally, Wells Fargo & Company raised their price target on Spotify Technology from $520.00 to $690.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.