Generali Asset Management SPA SGR Makes New Investment in Spotify Technology S.A. (NYSE:SPOT)

Generali Asset Management SPA SGR purchased a new position in Spotify Technology S.A. (NYSE:SPOT - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 1,461 shares of the company's stock, valued at approximately $654,000.

A number of other large investors also recently bought and sold shares of SPOT. Auxano Advisors LLC increased its holdings in shares of Spotify Technology by 2.5% during the fourth quarter. Auxano Advisors LLC now owns 828 shares of the company's stock valued at $370,000 after acquiring an additional 20 shares in the last quarter. SRS Capital Advisors Inc. increased its stake in Spotify Technology by 4.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 573 shares of the company's stock valued at $256,000 after purchasing an additional 25 shares in the last quarter. First Horizon Advisors Inc. increased its stake in Spotify Technology by 5.8% during the 3rd quarter. First Horizon Advisors Inc. now owns 478 shares of the company's stock valued at $176,000 after purchasing an additional 26 shares in the last quarter. Harbour Investments Inc. raised its holdings in Spotify Technology by 13.3% in the fourth quarter. Harbour Investments Inc. now owns 222 shares of the company's stock worth $99,000 after buying an additional 26 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. lifted its stake in shares of Spotify Technology by 1.9% in the fourth quarter. Cookson Peirce & Co. Inc. now owns 1,467 shares of the company's stock worth $656,000 after buying an additional 27 shares in the last quarter. 84.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SPOT has been the subject of several analyst reports. Benchmark raised their price target on shares of Spotify Technology from $600.00 to $720.00 and gave the company a "buy" rating in a research report on Wednesday, February 5th. Barclays boosted their price target on Spotify Technology from $475.00 to $710.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 5th. Morgan Stanley increased their price objective on Spotify Technology from $550.00 to $670.00 and gave the company an "overweight" rating in a research report on Wednesday, February 5th. Cantor Fitzgerald reissued a "neutral" rating and issued a $480.00 target price (down previously from $490.00) on shares of Spotify Technology in a research report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Spotify Technology from $555.00 to $730.00 and gave the stock an "overweight" rating 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. Based on data from MarketBeat, Spotify Technology has a consensus rating of "Moderate Buy" and a consensus target price of $540.68.

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Spotify Technology Trading Up 1.8 %

SPOT traded up $11.13 during trading on Tuesday, hitting $615.84. 1,571,942 shares of the company traded hands, compared to its average volume of 2,106,639. The company has a market cap of $126.07 billion, a PE ratio of 103.50 and a beta of 1.66. The stock's 50-day simple moving average is $570.20 and its two-hundred day simple moving average is $471.97. Spotify Technology S.A. has a 1 year low of $257.56 and a 1 year 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.