Pinnacle Wealth Planning Services Inc. Has $428,000 Stock Holdings in Spotify Technology S.A. (NYSE:SPOT)

Pinnacle Wealth Planning Services Inc. lifted its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 15.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 957 shares of the company’s stock after purchasing an additional 128 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Spotify Technology were worth $428,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Auxano Advisors LLC increased its stake in shares of Spotify Technology by 2.5% during the 4th quarter. Auxano Advisors LLC now owns 828 shares of the company’s stock worth $370,000 after purchasing an additional 20 shares during the last quarter. SRS Capital Advisors Inc. increased its stake in shares of Spotify Technology by 4.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 573 shares of the company’s stock worth $256,000 after purchasing an additional 25 shares during the last quarter. First Horizon Advisors Inc. increased its stake 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 worth $176,000 after purchasing an additional 26 shares during the last quarter. Cookson Peirce & Co. Inc. increased its stake in shares of Spotify Technology by 1.9% during the 4th quarter. Cookson Peirce & Co. Inc. now owns 1,467 shares of the company’s stock worth $656,000 after purchasing an additional 27 shares during the last quarter. Finally, Joel Isaacson & Co. LLC increased its stake 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 worth $697,000 after purchasing an additional 29 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. UBS Group increased their price target on shares of Spotify Technology from $485.00 to $540.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. JPMorgan Chase & Co. raised their target price on shares of Spotify Technology from $555.00 to $730.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Citigroup raised their target price 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. Macquarie raised their target price on shares of Spotify Technology from $500.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Finally, Barclays raised their target price on shares of Spotify Technology from $475.00 to $710.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $529.43.

Spotify Technology Stock Down 7.7 %

Shares of SPOT stock opened at $541.87 on Friday. Spotify Technology S.A. has a 12-month low of $249.58 and a 12-month high of $652.63. The company has a market capitalization of $110.92 billion, a P/E ratio of 91.07 and a beta of 1.66. The firm has a 50-day moving average price of $546.33 and a 200 day moving average price of $451.63.

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.