Brooklyn FI LLC Purchases New Position in Spotify Technology S.A. (NYSE:SPOT)

Brooklyn FI LLC purchased a new position in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,536 shares of the company's stock, valued at approximately $658,000.

Several other large investors have also added to or reduced their stakes in the company. Trillium Asset Management LLC boosted its holdings in shares of Spotify Technology by 35.9% in the 4th quarter. Trillium Asset Management LLC now owns 53,490 shares of the company's stock valued at $23,931,000 after acquiring an additional 14,144 shares during the last quarter. Xponance Inc. lifted its position in Spotify Technology by 8.8% during the fourth quarter. Xponance Inc. now owns 21,097 shares of the company's stock valued at $9,438,000 after purchasing an additional 1,711 shares during the period. OPTIMAS CAPITAL Ltd boosted its holdings in Spotify Technology by 17.2% in the fourth quarter. OPTIMAS CAPITAL Ltd now owns 6,800 shares of the company's stock valued at $3,042,000 after purchasing an additional 1,000 shares during the last quarter. Generali Asset Management SPA SGR acquired a new stake in Spotify Technology during the 4th quarter worth about $654,000. Finally, Thrivent Financial for Lutherans raised its stake in shares of Spotify Technology by 566.1% during the 4th quarter. Thrivent Financial for Lutherans now owns 7,980 shares of the company's stock valued at $3,541,000 after buying an additional 6,782 shares during the last quarter. Hedge funds and other institutional investors own 84.09% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on SPOT shares. JPMorgan Chase & Co. raised their target price on Spotify Technology from $555.00 to $730.00 and gave the stock an "overweight" rating in a report on Wednesday, February 5th. Guggenheim reaffirmed a "buy" rating and set a $675.00 price objective on shares of Spotify Technology in a research note on Monday, February 24th. Rosenblatt Securities reiterated a "neutral" rating and issued a $658.00 target price (up from $473.00) on shares of Spotify Technology in a research note on Wednesday, February 5th. KeyCorp increased their price target on shares of Spotify Technology from $555.00 to $600.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Finally, Wolfe Research reaffirmed a "peer perform" rating on shares of Spotify Technology in a report on Friday, January 17th. Eight analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Spotify Technology presently has an average rating of "Moderate Buy" and a consensus price target of $540.68.

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Spotify Technology Price Performance

Shares of SPOT traded up $5.24 during mid-day trading on Monday, reaching $605.18. The company's stock had a trading volume of 1,921,189 shares, compared to its average volume of 2,106,671. The company's 50 day moving average is $567.23 and its 200 day moving average is $470.02. The stock has a market cap of $123.88 billion, a PE ratio of 101.71 and a beta of 1.66. Spotify Technology S.A. has a 12-month low of $257.56 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.