Northwest & Ethical Investments L.P. Has $7.67 Million Holdings in Spotify Technology S.A. (NYSE:SPOT)

Northwest & Ethical Investments L.P. decreased its position in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 3.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,147 shares of the company's stock after selling 603 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Spotify Technology were worth $7,671,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Prestige Wealth Management Group LLC bought a new stake in shares of Spotify Technology during the 3rd quarter valued at approximately $26,000. Hobbs Group Advisors LLC acquired a new position in shares of Spotify Technology during the third quarter worth $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 boosted its holdings in shares of Spotify Technology by 135.7% during 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 in the last quarter. Finally, Noble Wealth Management PBC bought a new stake in Spotify Technology during the 4th quarter worth $52,000. 84.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Benchmark increased their target price on Spotify Technology from $600.00 to $720.00 and gave the company a "buy" rating in a research report on Wednesday, February 5th. Citigroup raised their price objective on shares of Spotify Technology from $540.00 to $720.00 and gave the company a "neutral" rating in a report on Friday, February 14th. Cantor Fitzgerald reissued a "neutral" rating and set a $480.00 target price (down from $490.00) on shares of Spotify Technology in a report on Tuesday, January 28th. Canaccord Genuity Group raised their price target on shares of Spotify Technology from $650.00 to $700.00 and gave the company a "buy" rating in a research note on Wednesday, February 5th. Finally, Barclays lifted 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. Eight investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $540.68.

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Spotify Technology Trading Up 1.8 %

Spotify Technology stock traded up $11.13 during midday trading on Tuesday, reaching $615.84. The stock had a trading volume of 1,571,942 shares, compared to its average volume of 2,106,639. The company has a fifty day moving average price of $570.20 and a two-hundred day moving average price of $471.97. Spotify Technology S.A. has a 12 month low of $257.56 and a 12 month high of $652.63. The company has a market capitalization of $126.07 billion, a P/E ratio of 103.50 and a beta of 1.66.

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.