Spotify Technology S.A. (NYSE:SPOT) Shares Acquired by Allworth Financial LP

Allworth Financial LP lifted its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 134.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 372 shares of the company’s stock after buying an additional 213 shares during the period. Allworth Financial LP’s holdings in Spotify Technology were worth $184,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Principal Securities Inc. boosted its stake in shares of Spotify Technology by 45.9% during the fourth quarter. Principal Securities Inc. now owns 1,227 shares of the company’s stock worth $549,000 after buying an additional 386 shares during the period. Everhart Financial Group Inc. lifted its position in Spotify Technology by 2.8% in the fourth quarter. Everhart Financial Group Inc. now owns 3,255 shares of the company’s stock valued at $1,456,000 after purchasing an additional 90 shares during the period. WealthPlan Investment Management LLC acquired a new stake in Spotify Technology in the fourth quarter valued at about $217,000. Nations Financial Group Inc. IA ADV acquired a new stake in Spotify Technology in the fourth quarter valued at about $438,000. Finally, Rhumbline Advisers lifted its position in Spotify Technology by 26.6% in the fourth quarter. Rhumbline Advisers now owns 189,610 shares of the company’s stock valued at $84,828,000 after purchasing an additional 39,808 shares during the period. Institutional investors and hedge funds own 84.09% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on SPOT shares. Morgan Stanley raised their price objective on shares of Spotify Technology from $550.00 to $670.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. The Goldman Sachs Group raised their price objective on shares of Spotify Technology from $550.00 to $695.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Phillip Securities restated an “accumulate” rating and issued a $485.00 price objective (up previously from $420.00) on shares of Spotify Technology in a research report on Wednesday, November 13th. Macquarie lifted their price target on shares of Spotify Technology from $500.00 to $600.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, TD Cowen lifted their price target on shares of Spotify Technology from $356.00 to $416.00 and gave the company a “hold” rating in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $529.43.

Spotify Technology Stock Performance

Shares of SPOT opened at $606.98 on Friday. The stock has a fifty day moving average of $523.55 and a two-hundred day moving average of $436.50. The company has a market capitalization of $120.82 billion, a PE ratio of 102.01 and a beta of 1.63. Spotify Technology S.A. has a fifty-two week low of $243.99 and a fifty-two week 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.