PAX Financial Group LLC Has $381,000 Stake in Spotify Technology S.A. (NYSE:SPOT)

PAX Financial Group LLC grew its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 20.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 851 shares of the company’s stock after acquiring an additional 147 shares during the period. PAX Financial Group LLC’s holdings in Spotify Technology were worth $381,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Townsquare Capital LLC increased its holdings in Spotify Technology by 7.8% in the third quarter. Townsquare Capital LLC now owns 994 shares of the company’s stock worth $366,000 after purchasing an additional 72 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Spotify Technology by 34.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,189 shares of the company’s stock worth $807,000 after buying an additional 565 shares during the period. Benjamin Edwards Inc. increased its stake in shares of Spotify Technology by 5,045.9% in the 3rd quarter. Benjamin Edwards Inc. now owns 4,374 shares of the company’s stock valued at $1,612,000 after acquiring an additional 4,289 shares in the last quarter. Hilltop Holdings Inc. lifted its position in shares of Spotify Technology by 60.5% during the 3rd quarter. Hilltop Holdings Inc. now owns 1,765 shares of the company’s stock valued at $650,000 after acquiring an additional 665 shares during the period. Finally, HighTower Advisors LLC boosted its stake in Spotify Technology by 25.2% during the third quarter. HighTower Advisors LLC now owns 16,549 shares of the company’s stock worth $6,073,000 after acquiring an additional 3,330 shares in the last quarter. 84.09% of the stock is owned by institutional investors.

Spotify Technology Price Performance

Shares of SPOT stock opened at $502.90 on Friday. Spotify Technology S.A. has a 1 year low of $267.76 and a 1 year high of $652.63. The company’s fifty day simple moving average is $583.28 and its two-hundred day simple moving average is $484.42. The stock has a market capitalization of $102.95 billion, a price-to-earnings ratio of 84.52 and a beta of 1.75.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SPOT shares. Canaccord Genuity Group upped their price objective on shares of Spotify Technology from $650.00 to $700.00 and gave the company a “buy” rating in a report on Wednesday, February 5th. FBN Securities began coverage on Spotify Technology in a research note on Friday, March 28th. They set a “sector perform” rating and a $645.00 price target on the stock. Guggenheim reissued a “buy” rating and issued a $675.00 price objective on shares of Spotify Technology in a research note on Monday, February 24th. KeyCorp upped their target price on Spotify Technology from $555.00 to $600.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, Morgan Stanley boosted their price target on shares of Spotify Technology from $550.00 to $670.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Nine analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat.com, Spotify Technology presently has an average rating of “Moderate Buy” and an average price target of $557.47.

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.