Trillium Asset Management LLC Grows Stock Position in Spotify Technology S.A. (NYSE:SPOT)

Trillium Asset Management LLC increased its position in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 35.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,490 shares of the company's stock after purchasing an additional 14,144 shares during the quarter. Trillium Asset Management LLC's holdings in Spotify Technology were worth $23,931,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Jennison Associates LLC bought a new position in Spotify Technology in the fourth quarter worth approximately $1,335,575,000. Marks Group Wealth Management Inc bought a new stake in Spotify Technology during the 4th quarter valued at $535,000. Patriot Financial Group Insurance Agency LLC bought a new stake in Spotify Technology during the 4th quarter valued at $214,000. Covenant Asset Management LLC bought a new stake in Spotify Technology during the 3rd quarter valued at $3,364,000. Finally, Kestra Investment Management LLC bought a new stake in Spotify Technology during the 3rd quarter valued at $780,000. Institutional investors own 84.09% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SPOT. KeyCorp increased their target price on Spotify Technology from $555.00 to $600.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. 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. The Goldman Sachs Group increased their target price on Spotify Technology from $550.00 to $695.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Macquarie increased their target price on Spotify Technology from $500.00 to $600.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Finally, Wells Fargo & Company increased their target price on Spotify Technology from $520.00 to $690.00 and gave the company an "overweight" rating in a research report on Wednesday, February 5th. Eight research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $540.68.

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Spotify Technology Trading Up 0.9 %

Shares of NYSE SPOT traded up $5.09 during trading on Friday, reaching $599.64. 2,543,337 shares of the company traded hands, compared to its average volume of 2,107,412. The firm's fifty day simple moving average is $567.23 and its 200 day simple moving average is $469.03. The stock has a market cap of $122.75 billion, a P/E ratio of 100.78 and a beta of 1.66. Spotify Technology S.A. has a 12-month low of $257.56 and a 12-month high of $652.63.

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.