Wealthspire Advisors LLC Purchases New Holdings in Spotify Technology S.A. (NYSE:SPOT)

Wealthspire Advisors LLC purchased a new stake in Spotify Technology S.A. (NYSE:SPOT) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 864 shares of the company’s stock, valued at approximately $387,000.

Several other institutional investors have also made changes to their positions in SPOT. Jennison Associates LLC bought a new stake in Spotify Technology during the fourth quarter worth $1,335,575,000. Forsta AP Fonden bought a new stake in Spotify Technology during the fourth quarter worth $619,600,000. WCM Investment Management LLC lifted its stake in Spotify Technology by 18.5% during the third quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock worth $1,430,142,000 after purchasing an additional 605,755 shares during the last quarter. FMR LLC lifted its stake in Spotify Technology by 23.4% during the third quarter. FMR LLC now owns 1,567,818 shares of the company’s stock worth $577,788,000 after purchasing an additional 297,035 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in Spotify Technology by 3,948.3% during the third quarter. Janus Henderson Group PLC now owns 264,233 shares of the company’s stock worth $97,329,000 after purchasing an additional 257,706 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. KeyCorp upped their target price on Spotify Technology from $555.00 to $600.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Macquarie upped their price target on shares of Spotify Technology from $500.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. UBS Group upped their price target on shares of Spotify Technology from $485.00 to $540.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Pivotal Research upped their price target on shares of Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Phillip Securities reiterated 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. One 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.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $529.43.

Spotify Technology Trading Up 2.4 %

Shares of SPOT opened at $602.53 on Thursday. The stock has a market capitalization of $119.94 billion, a P/E ratio of 101.27 and a beta of 1.63. The firm’s fifty day simple moving average is $531.23 and its two-hundred day simple moving average is $442.02. Spotify Technology S.A. has a 12 month low of $249.38 and a 12 month 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.