Spotify Technology S.A. (NYSE:SPOT) Stock Position Increased by Trivest Advisors Ltd

Trivest Advisors Ltd boosted its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 1,593.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 169,300 shares of the company’s stock after buying an additional 159,300 shares during the quarter. Spotify Technology makes up 3.4% of Trivest Advisors Ltd’s holdings, making the stock its 9th biggest position. Trivest Advisors Ltd owned about 0.09% of Spotify Technology worth $75,741,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Prestige Wealth Management Group LLC purchased a new position in shares of Spotify Technology during the 3rd quarter valued at approximately $26,000. Hobbs Group Advisors LLC acquired a new position in Spotify Technology during the third quarter worth $33,000. Larson Financial Group LLC lifted its holdings in Spotify Technology by 51.6% during the third quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock valued at $36,000 after purchasing an additional 33 shares in the last quarter. Quent Capital LLC grew its position in shares of Spotify Technology by 135.7% in the fourth quarter. Quent Capital LLC now owns 99 shares of the company’s stock valued at $44,000 after purchasing an additional 57 shares during the period. Finally, Noble Wealth Management PBC purchased a new stake in shares of Spotify Technology during the fourth quarter worth about $52,000. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Down 4.7 %

SPOT opened at $569.63 on Wednesday. The firm has a market cap of $116.61 billion, a P/E ratio of 95.74 and a beta of 1.66. Spotify Technology S.A. has a 52 week low of $249.58 and a 52 week high of $652.63. The business has a fifty day simple moving average of $560.06 and a 200-day simple moving average of $464.55.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SPOT. Citigroup lifted their price objective on Spotify Technology from $540.00 to $720.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Macquarie boosted their price target on Spotify Technology from $500.00 to $600.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. UBS Group raised their price objective on Spotify Technology from $485.00 to $540.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. The Goldman Sachs Group upped their target price on shares of Spotify Technology from $550.00 to $695.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $480.00 price target (down from $490.00) on shares of Spotify Technology in a research note on Tuesday, January 28th. Eight research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $540.68.

About Spotify Technology

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.