Venturi Wealth Management LLC Acquires 576 Shares of Spotify Technology S.A. (NYSE:SPOT)

Venturi Wealth Management LLC lifted its stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 60.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,532 shares of the company's stock after buying an additional 576 shares during the period. Venturi Wealth Management LLC's holdings in Spotify Technology were worth $685,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Jennison Associates LLC acquired a new position in shares of Spotify Technology in the fourth quarter worth about $1,335,575,000. Forsta AP Fonden purchased a new stake in Spotify Technology during the 4th quarter worth approximately $619,600,000. WCM Investment Management LLC increased its holdings in Spotify Technology by 18.5% during the 3rd quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company's stock worth $1,430,142,000 after purchasing an additional 605,755 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Spotify Technology by 36,910.0% in the 3rd quarter. International Assets Investment Management LLC now owns 347,524 shares of the company's stock valued at $128,073,000 after purchasing an additional 346,585 shares in the last quarter. Finally, FMR LLC boosted its stake in shares of Spotify Technology by 23.4% during the 3rd quarter. FMR LLC now owns 1,567,818 shares of the company's stock valued at $577,788,000 after buying an additional 297,035 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company's stock.

Spotify Technology Trading Down 3.7 %

SPOT stock traded down $23.32 during trading on Friday, reaching $613.45. 1,285,306 shares of the stock were exchanged, compared to its average volume of 2,034,010. The company has a market capitalization of $122.11 billion, a P/E ratio of 103.10 and a beta of 1.63. The stock has a 50 day simple moving average of $521.07 and a 200-day simple moving average of $433.77. Spotify Technology S.A. has a twelve month low of $243.99 and a twelve month high of $652.63.

Analyst Ratings Changes

A number of brokerages recently issued reports on SPOT. 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 research note on Wednesday, January 15th. Wolfe Research reissued a "peer perform" rating on shares of Spotify Technology in a research report on Friday, January 17th. Pivotal Research increased their price target on shares of Spotify Technology from $510.00 to $565.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. The Goldman Sachs Group boosted their price objective on Spotify Technology from $550.00 to $695.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $480.00 target price (down previously from $490.00) on shares of Spotify Technology in a report on Tuesday, January 28th. One 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 company's stock. According to data from MarketBeat, Spotify Technology has an average rating of "Moderate Buy" and an average price target of $529.43.

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.