Dorsey & Whitney Trust CO LLC Invests $268,000 in Spotify Technology S.A. (NYSE:SPOT)

Dorsey & Whitney Trust CO LLC acquired a new position in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 599 shares of the company's stock, valued at approximately $268,000.

Several other large investors also recently modified their holdings of the stock. Larson Financial Group LLC lifted its holdings in shares of Spotify Technology by 48.5% in the 4th quarter. Larson Financial Group LLC now owns 144 shares of the company's stock worth $64,000 after purchasing an additional 47 shares in the last quarter. NS Partners Ltd bought a new position in shares of Spotify Technology in the 4th quarter worth $805,000. PNC Financial Services Group Inc. lifted its holdings in shares of Spotify Technology by 14.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,434 shares of the company's stock worth $6,010,000 after purchasing an additional 1,671 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. bought a new position in shares of Spotify Technology in the 4th quarter worth $3,803,000. Finally, Banco Santander S.A. bought a new position in shares of Spotify Technology in the 4th quarter worth $246,000. Institutional investors and hedge funds own 84.09% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on SPOT shares. Wells Fargo & Company increased their target price on Spotify Technology from $520.00 to $690.00 and gave the stock an "overweight" rating in a report on Wednesday, February 5th. Citigroup increased their target price on Spotify Technology from $540.00 to $720.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. Pivotal Research raised their price objective on Spotify Technology from $510.00 to $565.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Canaccord Genuity Group raised their price objective on Spotify Technology from $650.00 to $700.00 and gave the company a "buy" rating in a research note on Wednesday, February 5th. Finally, Rosenblatt Securities restated a "neutral" rating and set a $658.00 price objective (up from $473.00) on shares of Spotify Technology in a research note on Wednesday, February 5th. Eight equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $540.68.

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Spotify Technology Stock Performance

Shares of SPOT opened at $507.66 on Wednesday. The business has a 50-day moving average of $549.75 and a 200 day moving average of $456.64. Spotify Technology S.A. has a fifty-two week low of $249.58 and a fifty-two week high of $652.63. The firm has a market cap of $103.92 billion, a P/E ratio of 85.32 and a beta of 1.66.

Spotify Technology Company 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.

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