Maridea Wealth Management LLC Purchases Shares of 852 Spotify Technology S.A. (NYSE:SPOT)

Maridea Wealth Management LLC purchased a new stake in 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 852 shares of the company's stock, valued at approximately $381,000.

A number of other institutional investors also recently modified their holdings of the business. Level Four Advisory Services LLC grew its position in Spotify Technology by 5.7% in the fourth quarter. Level Four Advisory Services LLC now owns 2,546 shares of the company's stock valued at $1,139,000 after acquiring an additional 137 shares during the last quarter. Orion Portfolio Solutions LLC grew its holdings in shares of Spotify Technology by 105.0% during the 4th quarter. Orion Portfolio Solutions LLC now owns 6,831 shares of the company's stock valued at $3,056,000 after purchasing an additional 3,499 shares during the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of Spotify Technology by 157.7% during the 4th quarter. Pictet Asset Management Holding SA now owns 213,773 shares of the company's stock valued at $95,638,000 after purchasing an additional 130,833 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in Spotify Technology by 4,763.8% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 44,747 shares of the company's stock valued at $20,019,000 after purchasing an additional 43,827 shares during the last quarter. Finally, Norges Bank acquired a new stake in Spotify Technology in the fourth quarter valued at approximately $396,028,000. Institutional investors and hedge funds own 84.09% of the company's stock.

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Spotify Technology Price Performance

Shares of SPOT traded down $3.41 during trading hours on Thursday, hitting $562.00. The stock had a trading volume of 1,062,767 shares, compared to its average volume of 2,159,045. Spotify Technology S.A. has a 1-year low of $267.76 and a 1-year high of $652.63. The firm has a market capitalization of $115.05 billion, a P/E ratio of 94.45 and a beta of 1.66. The firm has a 50 day simple moving average of $582.30 and a 200-day simple moving average of $482.76.

Analysts Set New Price Targets

SPOT has been the subject of several research analyst reports. Barclays upped their price target on shares of Spotify Technology from $475.00 to $710.00 and gave the stock an "overweight" rating in a report on Wednesday, February 5th. Redburn Atlantic began coverage on Spotify Technology in a research note on Tuesday, March 11th. They set a "neutral" rating and a $545.00 price target on the stock. Macquarie upped their price objective on Spotify Technology from $500.00 to $600.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Morgan Stanley lifted their target price on shares of Spotify Technology from $550.00 to $670.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 5th. Finally, The Goldman Sachs Group upped their price target on shares of Spotify Technology from $550.00 to $695.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Nine research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $557.47.

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.