LVZ Inc. Buys 125 Shares of Spotify Technology S.A. (NYSE:SPOT)

LVZ Inc. lifted its position in Spotify Technology S.A. (NYSE:SPOT) by 13.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,051 shares of the company’s stock after purchasing an additional 125 shares during the period. LVZ Inc.’s holdings in Spotify Technology were worth $470,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in SPOT. Prestige Wealth Management Group LLC bought a new stake in Spotify Technology in the 3rd quarter worth $26,000. Hobbs Group Advisors LLC bought a new stake in shares of Spotify Technology in the third quarter worth about $33,000. Larson Financial Group LLC increased its holdings in Spotify Technology by 51.6% during the 3rd 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 period. Rakuten Securities Inc. increased its holdings in Spotify Technology by 40.5% during the 3rd 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 period. Finally, Quent Capital LLC raised its position in Spotify Technology by 135.7% during the 4th 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. 84.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SPOT shares. Citigroup upped their target price on Spotify Technology from $540.00 to $720.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Canaccord Genuity Group upped their price objective on shares of Spotify Technology from $650.00 to $700.00 and gave the stock a “buy” rating in a report on Wednesday, February 5th. Benchmark lifted their target price 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. Rosenblatt Securities reiterated a “neutral” rating and set a $658.00 price target (up previously from $473.00) on shares of Spotify Technology in a research report on Wednesday, February 5th. Finally, Macquarie raised their price objective on shares of Spotify Technology from $500.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $529.43.

Spotify Technology Stock Down 3.1 %

SPOT opened at $581.48 on Wednesday. The stock has a market capitalization of $119.03 billion, a price-to-earnings ratio of 97.73 and a beta of 1.66. The firm has a 50 day moving average price of $542.15 and a 200-day moving average price of $450.05. Spotify Technology S.A. has a twelve month low of $249.58 and a twelve month high of $652.63.

Spotify Technology 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.