Colonial River Investments LLC Boosts Stake in Spotify Technology S.A. (NYSE:SPOT)

Colonial River Investments LLC boosted its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 6.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,771 shares of the company’s stock after acquiring an additional 102 shares during the period. Colonial River Investments LLC’s holdings in Spotify Technology were worth $792,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. First Horizon Advisors Inc. lifted its holdings in shares of Spotify Technology by 5.8% during the 3rd quarter. First Horizon Advisors Inc. now owns 478 shares of the company’s stock valued at $176,000 after purchasing an additional 26 shares during the last quarter. West Bancorporation Inc. lifted its holdings in shares of Spotify Technology by 3.4% during the 3rd quarter. West Bancorporation Inc. now owns 827 shares of the company’s stock valued at $305,000 after purchasing an additional 27 shares during the last quarter. Joel Isaacson & Co. LLC lifted its holdings in shares of Spotify Technology by 1.9% during the 4th quarter. Joel Isaacson & Co. LLC now owns 1,559 shares of the company’s stock valued at $697,000 after purchasing an additional 29 shares during the last quarter. Avior Wealth Management LLC lifted its holdings in shares of Spotify Technology by 12.0% during the 3rd quarter. Avior Wealth Management LLC now owns 281 shares of the company’s stock valued at $104,000 after purchasing an additional 30 shares during the last quarter. Finally, Park National Corp OH lifted its holdings in shares of Spotify Technology by 4.1% during the 4th quarter. Park National Corp OH now owns 793 shares of the company’s stock valued at $355,000 after purchasing an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Trading Down 4.7 %

Shares of Spotify Technology stock opened at $606.98 on Monday. The firm’s 50-day moving average price is $523.55 and its 200 day moving average price is $437.29. Spotify Technology S.A. has a twelve month low of $243.99 and a twelve month high of $652.63. The firm has a market capitalization of $120.82 billion, a PE ratio of 102.01 and a beta of 1.63.

Analyst Ratings Changes

Several analysts have recently commented on the company. Wells Fargo & Company increased their price objective on Spotify Technology from $520.00 to $690.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. KeyCorp raised their target price on Spotify Technology from $555.00 to $600.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Citigroup raised their target price on Spotify Technology from $540.00 to $720.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Canaccord Genuity Group raised their target price on Spotify Technology from $650.00 to $700.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. Finally, Barclays raised their target price on Spotify Technology from $475.00 to $710.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, Spotify Technology presently has an average rating of “Moderate Buy” and a consensus target price 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.