D.A. Davidson & CO. Has $4.79 Million Stock Position in Spotify Technology S.A. (NYSE:SPOT)

D.A. Davidson & CO. raised its holdings in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 4.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,714 shares of the company's stock after acquiring an additional 487 shares during the period. D.A. Davidson & CO.'s holdings in Spotify Technology were worth $4,793,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Prestige Wealth Management Group LLC bought a new position in Spotify Technology during the 3rd quarter worth about $26,000. Hobbs Group Advisors LLC bought a new position in shares of Spotify Technology during the third quarter worth about $33,000. Larson Financial Group LLC raised its position in 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 buying an additional 33 shares during the last quarter. Quent Capital LLC lifted its stake in 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 in the last quarter. Finally, Rakuten Securities Inc. lifted its stake in 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 in the last quarter. 84.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SPOT. Piper Sandler lifted their price objective on shares of Spotify Technology from $330.00 to $450.00 and gave the company a "neutral" rating in a report on Wednesday, November 13th. Rosenblatt Securities reiterated a "neutral" rating and issued a $658.00 price target (up from $473.00) on shares of Spotify Technology in a research note on Wednesday, February 5th. Cantor Fitzgerald restated a "neutral" rating and set a $480.00 price objective (down from $490.00) on shares of Spotify Technology in a research note on Tuesday, January 28th. Wolfe Research reaffirmed a "peer perform" rating on shares of Spotify Technology in a research report on Friday, January 17th. Finally, Benchmark upped their target price on Spotify Technology from $600.00 to $720.00 and gave the stock a "buy" rating in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $529.43.

Spotify Technology Price Performance

SPOT traded down $23.32 on Friday, hitting $613.45. 1,285,306 shares of the stock were exchanged, compared to its average volume of 2,034,010. Spotify Technology S.A. has a 12 month low of $243.99 and a 12 month high of $652.63. The firm has a market capitalization of $122.11 billion, a price-to-earnings ratio of 103.10 and a beta of 1.63. The business has a 50-day moving average of $521.07 and a two-hundred day moving average of $433.77.

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.