Raymond James Financial Inc. Takes Position in Spotify Technology S.A. (NYSE:SPOT)

Raymond James Financial Inc. acquired a new position in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 124,361 shares of the company's stock, valued at approximately $55,637,000. Raymond James Financial Inc. owned about 0.06% of Spotify Technology at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Prestige Wealth Management Group LLC purchased a new stake in shares of Spotify Technology during the 3rd quarter valued at approximately $26,000. Hobbs Group Advisors LLC purchased a new stake in Spotify Technology in the third quarter valued at $33,000. Larson Financial Group LLC lifted its stake in shares of Spotify Technology by 51.6% in the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company's stock valued at $36,000 after purchasing an additional 33 shares during the last quarter. Quent Capital LLC grew its holdings in shares of Spotify Technology by 135.7% during the 4th quarter. Quent Capital LLC now owns 99 shares of the company's stock worth $44,000 after purchasing an additional 57 shares during the period. Finally, Rakuten Securities Inc. increased its position in shares of Spotify Technology by 40.5% during the 3rd quarter. Rakuten Securities Inc. now owns 111 shares of the company's stock worth $41,000 after purchasing an additional 32 shares during the last quarter. 84.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on SPOT shares. Citigroup upped their target price on shares of Spotify Technology from $540.00 to $720.00 and gave the company a "neutral" rating in a research report on Friday, February 14th. The Goldman Sachs Group upped their price objective 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. Bank of America lifted their target price on shares of Spotify Technology from $430.00 to $515.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. UBS Group upped their price target on Spotify Technology from $485.00 to $540.00 and gave the stock a "buy" rating in a research note on Wednesday, January 15th. Finally, Phillip Securities restated an "accumulate" rating and set a $485.00 price target (up from $420.00) on shares of Spotify Technology in a research report on Wednesday, November 13th. Eight analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $540.68.

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Spotify Technology Trading Up 5.1 %

SPOT stock traded up $26.04 during trading on Wednesday, hitting $534.48. 2,358,435 shares of the company's stock were exchanged, compared to its average volume of 2,313,640. The business has a 50-day moving average price of $549.75 and a two-hundred day moving average price of $456.64. The stock has a market capitalization of $109.41 billion, a price-to-earnings ratio of 89.68 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.

Spotify Technology 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.