Personal CFO Solutions LLC Buys 109 Shares of Spotify Technology S.A. (NYSE:SPOT)

Personal CFO Solutions LLC raised its stake in Spotify Technology S.A. (NYSE:SPOT) by 4.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,686 shares of the company’s stock after acquiring an additional 109 shares during the quarter. Personal CFO Solutions LLC’s holdings in Spotify Technology were worth $1,202,000 as of its most recent SEC filing.

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

Spotify Technology Stock Down 2.3 %

Shares of SPOT stock opened at $531.15 on Friday. Spotify Technology S.A. has a 52 week low of $249.58 and a 52 week high of $652.63. The firm has a 50 day moving average of $547.82 and a 200-day moving average of $453.67. The company has a market cap of $108.73 billion, a price-to-earnings ratio of 89.27 and a beta of 1.66.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on SPOT shares. Barclays upped their price objective on Spotify Technology from $475.00 to $710.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Citigroup upped their price objective on Spotify Technology from $540.00 to $720.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Morgan Stanley upped their price objective on Spotify Technology from $550.00 to $670.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. TD Cowen upped their price objective on Spotify Technology from $356.00 to $416.00 and gave the company a “hold” rating in a research note on Wednesday, November 13th. Finally, Wells Fargo & Company upped their price objective on Spotify Technology from $520.00 to $690.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $529.43.

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.