Vestmark Advisory Solutions Inc. Boosts Holdings in Spotify Technology S.A. (NYSE:SPOT)

Vestmark Advisory Solutions Inc. raised its holdings in Spotify Technology S.A. (NYSE:SPOT) by 56.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 9,598 shares of the company’s stock after acquiring an additional 3,460 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Spotify Technology were worth $4,294,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SPOT. Prestige Wealth Management Group LLC acquired a new stake in Spotify Technology during the 3rd quarter worth approximately $26,000. Hobbs Group Advisors LLC acquired a new stake in Spotify Technology during the 3rd quarter worth approximately $33,000. Larson Financial Group LLC increased 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 purchasing an additional 33 shares in the last quarter. Rakuten Securities Inc. increased its position in Spotify Technology by 40.5% during the 3rd quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock worth $41,000 after purchasing an additional 32 shares in the last quarter. Finally, Quent Capital LLC increased 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 purchasing an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on SPOT shares. Morgan Stanley increased their target price on shares of Spotify Technology from $550.00 to $670.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Wolfe Research reaffirmed a “peer perform” rating on shares of Spotify Technology in a research report on Friday, January 17th. Pivotal Research increased their price objective on shares of Spotify Technology from $510.00 to $565.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Piper Sandler increased their price objective on shares of Spotify Technology from $330.00 to $450.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Finally, Bank of America increased their price objective on shares of Spotify Technology from $430.00 to $515.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. One investment 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $529.43.

Spotify Technology Stock Performance

Shares of SPOT opened at $541.87 on Friday. The firm has a market capitalization of $110.92 billion, a price-to-earnings ratio of 91.07 and a beta of 1.66. Spotify Technology S.A. has a one year low of $249.58 and a one year high of $652.63. The stock’s fifty day moving average is $546.33 and its 200-day moving average is $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.