Marks Group Wealth Management Inc Acquires Shares of 1,196 Spotify Technology S.A. (NYSE:SPOT)

Marks Group Wealth Management Inc bought a new stake in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,196 shares of the company's stock, valued at approximately $535,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Aigen Investment Management LP raised its stake in shares of 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 purchasing an additional 2,918 shares during the period. Jennison Associates LLC purchased a new stake in Spotify Technology during the fourth quarter worth about $1,335,575,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in Spotify Technology during the fourth quarter worth about $214,000. Pathway Capital Management LP increased its holdings in Spotify Technology by 23.8% during the third quarter. Pathway Capital Management LP now owns 57,340 shares of the company's stock worth $21,132,000 after buying an additional 11,042 shares during the last quarter. Finally, Covenant Asset Management LLC purchased a new stake in Spotify Technology during the third quarter worth about $3,364,000. 84.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SPOT shares. Rosenblatt Securities restated a "neutral" rating and set a $658.00 price objective (up previously from $473.00) on shares of Spotify Technology in a report on Wednesday, February 5th. UBS Group lifted their target price on shares of Spotify Technology from $485.00 to $540.00 and gave the stock a "buy" rating in a research note on Wednesday, January 15th. Macquarie lifted their target price on shares of Spotify Technology from $500.00 to $600.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Spotify Technology from $430.00 to $440.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. Finally, Guggenheim lifted their target price on shares of Spotify Technology from $520.00 to $675.00 and gave the stock a "buy" rating in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $529.43.

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Spotify Technology Stock Performance

Shares of SPOT traded down $10.58 on Friday, reaching $637.75. The stock had a trading volume of 2,120,063 shares, compared to its average volume of 2,176,745. The firm has a market capitalization of $126.94 billion, a price-to-earnings ratio of 107.18 and a beta of 1.63. The company has a 50-day simple moving average of $508.35 and a 200-day simple moving average of $426.06. Spotify Technology S.A. has a 12-month low of $239.66 and a 12-month high of $652.63.

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.