Donaldson Capital Management LLC Purchases New Stake in Spotify Technology S.A. (NYSE:SPOT)

Donaldson Capital Management LLC purchased a new stake in Spotify Technology S.A. (NYSE:SPOT) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 6,032 shares of the company’s stock, valued at approximately $2,699,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Aigen Investment Management LP grew its position in Spotify Technology by 42.4% in the third quarter. Aigen Investment Management LP now owns 9,800 shares of the company’s stock valued at $3,612,000 after acquiring an additional 2,918 shares during the last quarter. Jennison Associates LLC bought a new position in Spotify Technology in the fourth quarter valued at about $1,335,575,000. Marks Group Wealth Management Inc bought a new position in Spotify Technology in the fourth quarter valued at about $535,000. Patriot Financial Group Insurance Agency LLC bought a new position in Spotify Technology in the fourth quarter valued at about $214,000. Finally, Pathway Capital Management LP grew its position in Spotify Technology by 23.8% in the third quarter. Pathway Capital Management LP now owns 57,340 shares of the company’s stock valued at $21,132,000 after acquiring an additional 11,042 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Barclays lifted their target price on Spotify Technology from $475.00 to $710.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Phillip Securities restated an “accumulate” rating and set a $485.00 price target (up from $420.00) on shares of Spotify Technology in a report on Wednesday, November 13th. UBS Group boosted their price target on Spotify Technology from $485.00 to $540.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Rosenblatt Securities restated a “neutral” rating and set a $658.00 price target (up from $473.00) on shares of Spotify Technology in a report on Wednesday, February 5th. Finally, Morgan Stanley boosted their price target on Spotify Technology from $550.00 to $670.00 and gave the stock an “overweight” rating in a report 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 data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $529.43.

Spotify Technology Price Performance

Shares of SPOT opened at $488.00 on Tuesday. The stock has a 50-day moving average of $548.54 and a 200-day moving average of $455.47. Spotify Technology S.A. has a one year low of $249.58 and a one year high of $652.63. The company has a market cap of $99.90 billion, a PE ratio of 82.02 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.