Blair William & Co. IL Increases Stake in Spotify Technology S.A. (NYSE:SPOT)

Blair William & Co. IL grew its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 84.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,292 shares of the company’s stock after purchasing an additional 593 shares during the quarter. Blair William & Co. IL’s holdings in Spotify Technology were worth $578,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Hillsdale Investment Management Inc. bought a new stake in shares of Spotify Technology in the fourth quarter worth about $27,000. Prestige Wealth Management Group LLC bought a new stake in shares of Spotify Technology in the 3rd quarter worth approximately $26,000. Hobbs Group Advisors LLC bought a new stake in shares of Spotify Technology in the 3rd quarter worth approximately $33,000. Quent Capital LLC increased its stake in shares of Spotify Technology by 135.7% during the fourth quarter. Quent Capital LLC now owns 99 shares of the company’s stock valued at $44,000 after buying an additional 57 shares during the period. Finally, Noble Wealth Management PBC bought a new position in shares of Spotify Technology during the fourth quarter valued at approximately $52,000. Institutional investors own 84.09% of the company’s stock.

Analyst Upgrades and Downgrades

SPOT has been the topic of several recent analyst reports. Guggenheim reiterated a “buy” rating and issued a $675.00 price target on shares of Spotify Technology in a report on Monday, February 24th. Macquarie lifted 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. UBS Group decreased their price target on shares of Spotify Technology from $720.00 to $690.00 and set a “buy” rating for the company in a research note on Wednesday. Wells Fargo & Company raised their price objective on shares of Spotify Technology from $690.00 to $740.00 and gave the stock an “overweight” rating in a report on Friday, March 28th. Finally, Barclays upped their target price on Spotify Technology from $475.00 to $710.00 and gave the stock an “overweight” rating in a report 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. According to data from MarketBeat.com, Spotify Technology currently has an average rating of “Moderate Buy” and an average price target of $557.47.

Spotify Technology Stock Performance

SPOT opened at $558.48 on Friday. The company’s 50-day simple moving average is $583.45 and its two-hundred day simple moving average is $483.28. The stock has a market capitalization of $114.32 billion, a P/E ratio of 93.86 and a beta of 1.75. Spotify Technology S.A. has a 52-week low of $267.76 and a 52-week high of $652.63.

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.