Nations Financial Group Inc. IA ADV Invests $438,000 in Spotify Technology S.A. (NYSE:SPOT)

Nations Financial Group Inc. IA ADV purchased a new position in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 978 shares of the company's stock, valued at approximately $438,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SPOT. Creative Planning boosted its position in shares of Spotify Technology by 1.9% during the third quarter. Creative Planning now owns 6,351 shares of the company's stock worth $2,341,000 after purchasing an additional 118 shares in the last quarter. Bleakley Financial Group LLC boosted its position in shares of Spotify Technology by 14.1% during the third quarter. Bleakley Financial Group LLC now owns 2,115 shares of the company's stock worth $779,000 after purchasing an additional 261 shares in the last quarter. V Square Quantitative Management LLC bought a new position in shares of Spotify Technology during the third quarter worth $40,000. Aaron Wealth Advisors LLC bought a new position in shares of Spotify Technology during the third quarter worth $223,000. Finally, Blue Trust Inc. boosted its position in shares of Spotify Technology by 705.0% during the third quarter. Blue Trust Inc. now owns 1,457 shares of the company's stock worth $537,000 after purchasing an additional 1,276 shares in the last quarter. 84.09% of the stock is owned by institutional investors.

Spotify Technology Price Performance

SPOT stock traded down $29.79 during trading on Friday, reaching $606.98. 2,197,419 shares of the company were exchanged, compared to its average volume of 2,063,644. The company has a 50-day moving average of $523.55 and a two-hundred day moving average of $435.73. The company has a market capitalization of $120.82 billion, a price-to-earnings ratio of 102.01 and a beta of 1.63. Spotify Technology S.A. has a twelve month low of $243.99 and a twelve month high of $652.63.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SPOT shares. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $480.00 price objective (down from $490.00) on shares of Spotify Technology in a research report on Tuesday, January 28th. Benchmark boosted their price objective 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. UBS Group boosted their price objective on shares of Spotify Technology from $485.00 to $540.00 and gave the company a "buy" rating in a research report on Wednesday, January 15th. Bank of America boosted their price objective on shares of Spotify Technology from $430.00 to $515.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. Finally, Phillip Securities reaffirmed an "accumulate" rating and issued a $485.00 price objective (up from $420.00) on shares of Spotify Technology in a research report on Wednesday, November 13th. One investment 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 data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $529.43.

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.