Wealthspire Advisors LLC Invests $387,000 in Spotify Technology S.A. (NYSE:SPOT)

by · The Cerbat Gem

Wealthspire Advisors LLC purchased a new stake in Spotify Technology S.A. (NYSE:SPOT – Free Report) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 864 shares of the company’s stock, valued at approximately $387,000.

Several other large investors have also added to or reduced their stakes in SPOT. Private Advisor Group LLC lifted its position in Spotify Technology by 13.3% in the 3rd quarter. Private Advisor Group LLC now owns 3,425 shares of the company’s stock valued at $1,263,000 after acquiring an additional 402 shares in the last quarter. Ballentine Partners LLC bought a new position in Spotify Technology in the 3rd quarter valued at about $239,000. Wealth Enhancement Advisory Services LLC lifted its position in Spotify Technology by 263.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 17,040 shares of the company’s stock valued at $6,280,000 after acquiring an additional 12,357 shares in the last quarter. abrdn plc lifted its position in Spotify Technology by 16.6% in the 3rd quarter. abrdn plc now owns 47,051 shares of the company’s stock valued at $17,340,000 after acquiring an additional 6,693 shares in the last quarter. Finally, Integrated Advisors Network LLC lifted its position in Spotify Technology by 7.5% in the 3rd quarter. Integrated Advisors Network LLC now owns 2,716 shares of the company’s stock valued at $1,001,000 after acquiring an additional 189 shares in the last quarter. Institutional investors own 84.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Spotify Technology from $555.00 to $730.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Morgan Stanley increased their price objective on shares of Spotify Technology from $550.00 to $670.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Guggenheim reiterated a “buy” rating and issued a $675.00 price objective on shares of Spotify Technology in a research note on Monday. The Goldman Sachs Group upped their price objective on Spotify Technology from $550.00 to $695.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $529.43.

Read Our Latest Stock Report on Spotify Technology

Spotify Technology Stock Performance

Shares of SPOT opened at $602.53 on Thursday. The stock’s 50-day simple moving average is $531.23 and its 200 day simple moving average is $442.02. The stock has a market capitalization of $119.94 billion, a price-to-earnings ratio of 101.27 and a beta of 1.63. Spotify Technology S.A. has a 52-week low of $249.38 and a 52-week high of $652.63.

Spotify Technology Company Profile

(Free Report)

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.

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