Spotify Technology S.A. (NYSE:SPOT) Shares Acquired by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC boosted its holdings in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 105.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,831 shares of the company's stock after buying an additional 3,499 shares during the quarter. Orion Portfolio Solutions LLC's holdings in Spotify Technology were worth $3,056,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of SPOT. Hillsdale Investment Management Inc. purchased a new stake in Spotify Technology in the fourth quarter valued at $27,000. Prestige Wealth Management Group LLC purchased a new position in shares of Spotify Technology during the third quarter worth about $26,000. Hobbs Group Advisors LLC acquired a new stake in shares of Spotify Technology during the third quarter worth about $33,000. Quent Capital LLC lifted its holdings 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 purchasing an additional 57 shares during the last quarter. Finally, Noble Wealth Management PBC purchased a new position in Spotify Technology during the 4th quarter worth approximately $52,000. 84.09% of the stock is owned by hedge funds and other institutional investors.

Spotify Technology Trading Down 1.2 %

SPOT traded down $6.93 during midday trading on Thursday, hitting $558.48. The company's stock had a trading volume of 2,961,330 shares, compared to its average volume of 2,166,304. The firm has a market cap of $114.32 billion, a P/E ratio of 93.86 and a beta of 1.75. Spotify Technology S.A. has a 52-week low of $267.76 and a 52-week high of $652.63. The firm has a 50-day moving average price of $582.30 and a two-hundred day moving average price of $482.76.

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Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SPOT. Rosenblatt Securities reissued a "neutral" rating and issued a $658.00 price objective (up from $473.00) on shares of Spotify Technology in a report on Wednesday, February 5th. Guggenheim restated a "buy" rating and issued a $675.00 price target on shares of Spotify Technology in a research report on Monday, February 24th. China Renaissance started coverage on Spotify Technology in a research report on Wednesday, March 26th. They set a "buy" rating and a $740.00 price objective for the company. Morgan Stanley boosted their target price on Spotify Technology from $550.00 to $670.00 and gave the company an "overweight" rating in a report on Wednesday, February 5th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $480.00 price target (down from $490.00) on shares of Spotify Technology in a report on Tuesday, January 28th. Nine analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $557.47.

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.