Metis Global Partners LLC Makes New $968,000 Investment in Spotify Technology S.A. (NYSE:SPOT)

Metis Global Partners LLC acquired a new stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,164 shares of the company's stock, valued at approximately $968,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Prestige Wealth Management Group LLC acquired a new stake in shares of Spotify Technology in the 3rd quarter valued at $26,000. Hobbs Group Advisors LLC bought a new position in shares of Spotify Technology in the 3rd quarter valued at $33,000. Larson Financial Group LLC lifted its stake in shares of Spotify Technology by 51.6% in the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company's stock valued at $36,000 after acquiring an additional 33 shares during the last quarter. Quent Capital LLC lifted its stake in shares of Spotify Technology by 135.7% in the 4th quarter. Quent Capital LLC now owns 99 shares of the company's stock valued at $44,000 after acquiring an additional 57 shares during the last quarter. Finally, Rakuten Securities Inc. lifted its stake in shares of Spotify Technology by 40.5% in the 3rd quarter. Rakuten Securities Inc. now owns 111 shares of the company's stock valued at $41,000 after acquiring an additional 32 shares during the last quarter. Institutional investors own 84.09% of the company's stock.

Spotify Technology Stock Performance

NYSE:SPOT traded down $12.26 during midday trading on Friday, reaching $531.15. 3,825,546 shares of the stock traded hands, compared to its average volume of 2,194,643. Spotify Technology S.A. has a 12-month low of $249.58 and a 12-month high of $652.63. The business has a 50-day moving average of $547.82 and a two-hundred day moving average of $452.93. The stock has a market capitalization of $108.73 billion, a PE ratio of 89.27 and a beta of 1.66.

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Analyst Upgrades and Downgrades

SPOT has been the subject of several research analyst reports. Macquarie lifted their price objective on Spotify Technology from $500.00 to $600.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Bank of America lifted their price target on shares of Spotify Technology from $430.00 to $515.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. UBS Group lifted their price target on shares of Spotify Technology from $485.00 to $540.00 and gave the stock a "buy" rating in a report on Wednesday, January 15th. Benchmark boosted their target price on shares of Spotify Technology from $600.00 to $720.00 and gave the company a "buy" rating in a report on Wednesday, February 5th. Finally, Morgan Stanley boosted their price target on shares of Spotify Technology from $550.00 to $670.00 and gave the company an "overweight" rating in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, Spotify Technology presently has an average rating of "Moderate Buy" and an average target price of $529.43.

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.