SVB Wealth LLC Purchases Shares of 508 Spotify Technology S.A. (NYSE:SPOT)

SVB Wealth LLC acquired a new position in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 508 shares of the company's stock, valued at approximately $227,000.

Other institutional investors have also recently bought and sold shares of the company. Prestige Wealth Management Group LLC acquired a new stake in Spotify Technology during the 3rd quarter worth about $26,000. Hobbs Group Advisors LLC acquired a new stake in Spotify Technology during the 3rd quarter worth about $33,000. Larson Financial Group LLC boosted its position in Spotify Technology by 51.6% during the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company's stock worth $36,000 after acquiring an additional 33 shares during the period. Rakuten Securities Inc. boosted its position in 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 acquiring an additional 32 shares during the period. Finally, Quent Capital LLC lifted 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 valued at $44,000 after buying an additional 57 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SPOT has been the subject of several research reports. Wolfe Research reiterated a "peer perform" rating on shares of Spotify Technology in a report on Friday, January 17th. Guggenheim reiterated a "buy" rating and set a $675.00 price target on shares of Spotify Technology in a report on Monday, February 24th. Bank of America lifted their price target on Spotify Technology from $430.00 to $515.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Citigroup lifted their price target on Spotify Technology from $540.00 to $720.00 and gave the company a "neutral" rating in a report on Friday, February 14th. Finally, Pivotal Research lifted their price target on Spotify Technology from $510.00 to $565.00 and gave the company a "buy" rating 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 assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $529.43.

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Spotify Technology Stock Down 2.3 %

NYSE SPOT traded down $12.26 during trading on Friday, hitting $531.15. The company's stock had a trading volume of 3,825,546 shares, compared to its average volume of 2,194,643. The firm has a market cap of $108.73 billion, a P/E ratio of 89.27 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 firm has a 50 day moving average price of $547.82 and a 200 day moving average price of $453.67.

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.