Donaldson Capital Management LLC purchased a new position in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 6,032 shares of the company's stock, valued at approximately $2,699,000.
Several other institutional investors and hedge funds have also modified their holdings of the business. Aigen Investment Management LP raised its stake in Spotify Technology by 42.4% during the 3rd 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 period. Jennison Associates LLC bought a new stake in shares of Spotify Technology during the 4th quarter valued at $1,335,575,000. Marks Group Wealth Management Inc purchased a new position in shares of Spotify Technology in the fourth quarter valued at about $535,000. Patriot Financial Group Insurance Agency LLC bought a new position in Spotify Technology in the 4th quarter worth approximately $214,000. Finally, Pathway Capital Management LP raised its position in shares of Spotify Technology by 23.8% during the third quarter. Pathway Capital Management LP now owns 57,340 shares of the company's stock valued at $21,132,000 after buying an additional 11,042 shares during the last quarter. Hedge funds and other institutional investors own 84.09% of the company's stock.
Wall Street Analyst Weigh In
SPOT has been the topic of several research analyst reports. Rosenblatt Securities reiterated a "neutral" rating and issued a $658.00 price target (up previously from $473.00) on shares of Spotify Technology in a research note on Wednesday, February 5th. Cantor Fitzgerald reissued a "neutral" rating and issued a $480.00 price objective (down from $490.00) on shares of Spotify Technology in a research note on Tuesday, January 28th. Pivotal Research increased their price target on shares of Spotify Technology from $510.00 to $565.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Guggenheim reissued a "buy" rating and set a $675.00 price objective on shares of Spotify Technology in a research note on Monday, February 24th. Finally, Bank of America lifted their target price on Spotify Technology from $430.00 to $515.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Eight analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. According to MarketBeat.com, Spotify Technology presently has a consensus rating of "Moderate Buy" and an average target price of $540.68.
View Our Latest Analysis on Spotify Technology
Spotify Technology Stock Performance
NYSE SPOT traded up $26.77 during trading hours on Wednesday, reaching $535.21. The stock had a trading volume of 2,808,501 shares, compared to its average volume of 2,321,293. Spotify Technology S.A. has a 52-week low of $249.58 and a 52-week high of $652.63. The stock has a fifty day moving average of $549.75 and a 200 day moving average of $456.64. The stock has a market cap of $109.56 billion, a P/E ratio of 90.19 and a beta of 1.66.
About Spotify Technology
(
Free Report)
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.
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