Whalerock Point Partners LLC Invests $329,000 in Spotify Technology S.A. (NYSE:SPOT)

Whalerock Point Partners LLC purchased a new position in Spotify Technology S.A. (NYSE:SPOT - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 735 shares of the company's stock, valued at approximately $329,000.

Other hedge funds also recently bought and sold shares of the company. Auxano Advisors LLC raised its position in Spotify Technology by 2.5% in the 4th quarter. Auxano Advisors LLC now owns 828 shares of the company's stock worth $370,000 after buying an additional 20 shares during the last quarter. SRS Capital Advisors Inc. raised its holdings in shares of Spotify Technology by 4.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 573 shares of the company's stock valued at $256,000 after purchasing an additional 25 shares during the last quarter. First Horizon Advisors Inc. lifted its position in Spotify Technology by 5.4% during the fourth quarter. First Horizon Advisors Inc. now owns 504 shares of the company's stock valued at $225,000 after purchasing an additional 26 shares during the period. Harbour Investments Inc. boosted its holdings in Spotify Technology by 13.3% in the fourth quarter. Harbour Investments Inc. now owns 222 shares of the company's stock worth $99,000 after purchasing an additional 26 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. raised its stake in Spotify Technology by 1.9% during the 4th quarter. Cookson Peirce & Co. Inc. now owns 1,467 shares of the company's stock valued at $656,000 after buying an additional 27 shares during the last quarter. Institutional investors own 84.09% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on SPOT. Wells Fargo & Company lifted their price objective on Spotify Technology from $690.00 to $740.00 and gave the stock an "overweight" rating in a report on Friday, March 28th. Citigroup boosted their price target on Spotify Technology from $540.00 to $720.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. UBS Group dropped their price objective on shares of Spotify Technology from $690.00 to $680.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Cantor Fitzgerald reduced their target price on shares of Spotify Technology from $600.00 to $520.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Finally, Guggenheim reiterated a "buy" rating and set a $675.00 price target on shares of Spotify Technology in a research note on Monday, February 24th. Seven analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $596.26.

Spotify Technology Price Performance

NYSE SPOT opened at $621.16 on Friday. The stock's 50 day simple moving average is $571.23 and its 200-day simple moving average is $507.49. The company has a market cap of $127.16 billion, a PE ratio of 104.40 and a beta of 1.75. Spotify Technology S.A. has a 1-year low of $280.37 and a 1-year high of $652.63.

About Spotify Technology

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.

Want to see what other hedge funds are holding SPOT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Spotify Technology S.A. (NYSE:SPOT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.