Hancock Whitney Corp Acquires Shares of 833 Spotify Technology S.A. (NYSE:SPOT)

Hancock Whitney Corp bought a new position in Spotify Technology S.A. (NYSE:SPOT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 833 shares of the company's stock, valued at approximately $373,000.

Other large investors have also made changes to their positions in the company. Thrivent Financial for Lutherans grew its stake in 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 acquiring an additional 6,782 shares in the last quarter. Jennison Associates LLC purchased a new position in Spotify Technology during the fourth quarter valued at approximately $1,335,575,000. Marks Group Wealth Management Inc acquired a new position in Spotify Technology in the 4th quarter valued at approximately $535,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in Spotify Technology in the 4th quarter worth approximately $214,000. Finally, Swedbank AB boosted its stake in shares of Spotify Technology by 20.9% during the 4th quarter. Swedbank AB now owns 946,129 shares of the company's stock valued at $423,279,000 after buying an additional 163,626 shares during the period. Institutional investors and hedge funds own 84.09% of the company's stock.

Spotify Technology Stock Performance

Shares of SPOT opened at $621.16 on Friday. The company has a 50-day simple moving average of $571.23 and a 200-day simple moving average of $507.49. Spotify Technology S.A. has a 52 week low of $280.37 and a 52 week high of $652.63. The firm has a market capitalization of $127.16 billion, a P/E ratio of 104.40 and a beta of 1.75.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SPOT. China Renaissance assumed coverage on shares of Spotify Technology in a research note on Wednesday, March 26th. They issued a "buy" rating and a $740.00 price target on the stock. Wolfe Research raised Spotify Technology from a "peer perform" rating to an "outperform" rating and set a $660.00 target price on the stock in a research report on Monday, April 21st. FBN Securities began coverage on Spotify Technology in a report on Friday, March 28th. They set a "sector perform" rating and a $645.00 price target for the company. Morgan Stanley increased their price objective on Spotify Technology from $550.00 to $670.00 and gave the stock an "overweight" rating in a report on Wednesday, February 5th. Finally, UBS Group reduced their target price on shares of Spotify Technology from $690.00 to $680.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Seven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $596.26.

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.

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