Atala Financial Inc Makes New Investment in Spotify Technology S.A. (NYSE:SPOT)

Atala Financial Inc acquired a new stake in Spotify Technology S.A. (NYSE:SPOT) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 867 shares of the company’s stock, valued at approximately $388,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Jennison Associates LLC bought a new position in Spotify Technology in the 4th quarter valued at $1,335,575,000. Marks Group Wealth Management Inc purchased a new position in shares of Spotify Technology in the 4th quarter worth about $535,000. Patriot Financial Group Insurance Agency LLC bought a new position in Spotify Technology during the fourth quarter valued at about $214,000. Covenant Asset Management LLC purchased a new stake in Spotify Technology during the third quarter worth about $3,364,000. Finally, Kestra Investment Management LLC purchased a new stake in Spotify Technology during the third quarter worth about $780,000. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on SPOT. Macquarie boosted 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. Wolfe Research reissued a “peer perform” rating on shares of Spotify Technology in a research report on Friday, January 17th. Barclays increased their price target on Spotify Technology from $475.00 to $710.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. The Goldman Sachs Group boosted their price objective on Spotify Technology from $550.00 to $695.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Finally, Canaccord Genuity Group boosted their price target on shares of Spotify Technology from $650.00 to $700.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. Eight equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $540.68.

Spotify Technology Price Performance

Shares of Spotify Technology stock opened at $539.11 on Friday. The company has a 50 day simple moving average of $553.16 and a two-hundred day simple moving average of $457.77. The firm has a market cap of $110.36 billion, a PE ratio of 90.61 and a beta of 1.66. Spotify Technology S.A. has a 1 year low of $249.58 and a 1 year high of $652.63.

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.