Whittier Trust Co. of Nevada Inc. Has $407,000 Position in Spotify Technology S.A. (NYSE:SPOT)

Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 165.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 909 shares of the company's stock after acquiring an additional 567 shares during the quarter. Whittier Trust Co. of Nevada Inc.'s holdings in Spotify Technology were worth $407,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Auxano Advisors LLC raised its holdings in Spotify Technology by 2.5% during the fourth quarter. Auxano Advisors LLC now owns 828 shares of the company's stock worth $370,000 after acquiring an additional 20 shares in the last quarter. SRS Capital Advisors Inc. raised its stake in shares of Spotify Technology by 4.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 573 shares of the company's stock worth $256,000 after purchasing an additional 25 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Spotify Technology by 5.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 478 shares of the company's stock valued at $176,000 after buying an additional 26 shares during the last quarter. Harbour Investments Inc. grew its stake in shares of Spotify Technology by 13.3% in the fourth quarter. Harbour Investments Inc. now owns 222 shares of the company's stock valued at $99,000 after buying an additional 26 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. increased its holdings in Spotify Technology by 1.9% during the fourth quarter. Cookson Peirce & Co. Inc. now owns 1,467 shares of the company's stock worth $656,000 after buying an additional 27 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Spotify Technology Trading Up 0.7 %

Spotify Technology stock traded up $3.92 during midday trading on Thursday, reaching $580.27. The company's stock had a trading volume of 2,204,713 shares, compared to its average volume of 2,113,313. The stock has a market cap of $118.79 billion, a PE ratio of 97.52 and a beta of 1.66. Spotify Technology S.A. has a 52 week low of $257.56 and a 52 week high of $652.63. The business has a 50-day moving average price of $575.00 and a 200-day moving average price of $474.75.

Analyst Ratings Changes

A number of analysts have commented on the stock. Rosenblatt Securities reiterated a "neutral" rating and issued a $658.00 price target (up previously from $473.00) on shares of Spotify Technology in a research note on Wednesday, February 5th. Guggenheim reiterated a "buy" rating and set a $675.00 price target on shares of Spotify Technology in a report on Monday, February 24th. Morgan Stanley upped their price objective on Spotify Technology from $550.00 to $670.00 and gave the company an "overweight" rating in a research note on Wednesday, February 5th. Benchmark raised their price objective on Spotify Technology from $600.00 to $720.00 and gave the company a "buy" rating in a research report on Wednesday, February 5th. Finally, Wells Fargo & Company boosted their target price on Spotify Technology from $520.00 to $690.00 and gave the stock an "overweight" rating in a report on Wednesday, February 5th. Eight research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $547.55.

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.