Signaturefd LLC Has $1.44 Million Position in Spotify Technology S.A. (NYSE:SPOT)

Signaturefd LLC increased its holdings in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 67.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,209 shares of the company's stock after buying an additional 1,298 shares during the period. Signaturefd LLC's holdings in Spotify Technology were worth $1,436,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. OneDigital Investment Advisors LLC grew its holdings in Spotify Technology by 38.9% during the third quarter. OneDigital Investment Advisors LLC now owns 1,074 shares of the company's stock valued at $396,000 after purchasing an additional 301 shares during the period. GLOBALT Investments LLC GA acquired a new position in shares of Spotify Technology in the third quarter valued at approximately $809,000. Aviance Capital Partners LLC acquired a new position in shares of Spotify Technology in the third quarter valued at approximately $2,580,000. Pathstone Holdings LLC boosted its holdings in shares of Spotify Technology by 16.9% in the third quarter. Pathstone Holdings LLC now owns 24,258 shares of the company's stock valued at $8,940,000 after buying an additional 3,515 shares during the period. Finally, Caprock Group LLC boosted its holdings in shares of Spotify Technology by 4.4% in the third quarter. Caprock Group LLC now owns 4,696 shares of the company's stock valued at $1,731,000 after buying an additional 199 shares during the period. 84.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SPOT. Morgan Stanley upped their price target on shares of Spotify Technology from $550.00 to $670.00 and gave the company an "overweight" rating in a report on Wednesday, February 5th. Cantor Fitzgerald reissued a "neutral" rating and issued a $480.00 price objective (down previously from $490.00) on shares of Spotify Technology in a research report on Tuesday, January 28th. Wolfe Research reissued a "peer perform" rating on shares of Spotify Technology in a research report on Friday, January 17th. Benchmark boosted their price objective on shares of Spotify Technology from $600.00 to $720.00 and gave the stock a "buy" rating in a research report on Wednesday, February 5th. Finally, Canaccord Genuity Group boosted their price objective on shares of Spotify Technology from $650.00 to $700.00 and gave the stock a "buy" rating in a research report on Wednesday, February 5th. Eight research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company's stock. According to MarketBeat.com, Spotify Technology has a consensus rating of "Moderate Buy" and a consensus price target of $540.68.

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Spotify Technology Trading Up 0.9 %

NYSE:SPOT traded up $5.09 during mid-day trading on Friday, hitting $599.64. 2,543,337 shares of the company's stock were exchanged, compared to its average volume of 2,102,455. The company has a 50 day simple moving average of $567.23 and a 200-day simple moving average of $468.06. Spotify Technology S.A. has a fifty-two week low of $257.56 and a fifty-two week high of $652.63. The firm has a market capitalization of $122.75 billion, a P/E ratio of 100.78 and a beta of 1.66.

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.