Spotify Technology S.A. (NYSE:SPOT) Stock Position Boosted by Signaturefd LLC

Signaturefd LLC boosted its stake in Spotify Technology S.A. (NYSE:SPOT) by 67.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,209 shares of the company’s stock after buying an additional 1,298 shares during the period. Signaturefd LLC’s holdings in Spotify Technology were worth $1,436,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. OneDigital Investment Advisors LLC lifted its holdings in Spotify Technology by 38.9% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,074 shares of the company’s stock valued at $396,000 after acquiring an additional 301 shares during the last quarter. GLOBALT Investments LLC GA acquired a new stake in Spotify Technology in the 3rd quarter valued at about $809,000. Aviance Capital Partners LLC acquired a new stake in Spotify Technology in the 3rd quarter valued at about $2,580,000. Pathstone Holdings LLC lifted its holdings in Spotify Technology by 16.9% in the 3rd quarter. Pathstone Holdings LLC now owns 24,258 shares of the company’s stock valued at $8,940,000 after acquiring an additional 3,515 shares during the last quarter. Finally, Caprock Group LLC lifted its holdings in Spotify Technology by 4.4% in the 3rd quarter. Caprock Group LLC now owns 4,696 shares of the company’s stock valued at $1,731,000 after acquiring an additional 199 shares during the last quarter. Institutional investors own 84.09% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SPOT shares. Redburn Atlantic started coverage on shares of Spotify Technology in a report on Tuesday, March 11th. They issued a “neutral” rating and a $545.00 price target for the company. Cantor Fitzgerald reissued a “neutral” rating and issued a $480.00 price target (down from $490.00) on shares of Spotify Technology in a report on Tuesday, January 28th. Morgan Stanley upped their price target on shares of Spotify Technology from $550.00 to $670.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. KeyCorp upped their price objective on shares of Spotify Technology from $555.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Citigroup upped their price objective 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. Eight analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $540.68.

Spotify Technology Stock Performance

NYSE:SPOT opened at $569.63 on Wednesday. The stock’s 50 day moving average price is $560.06 and its 200 day moving average price is $464.55. Spotify Technology S.A. has a 52 week low of $249.58 and a 52 week high of $652.63. The company has a market capitalization of $116.61 billion, a P/E ratio of 95.74 and a beta of 1.66.

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.