Delta Asset Management LLC TN boosted its stake in shares of Spotify Technology S.A. (NYSE:SPOT – Free Report) by 6.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 960 shares of the company’s stock after buying an additional 60 shares during the quarter. Delta Asset Management LLC TN’s holdings in Spotify Technology were worth $180,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently bought and sold shares of SPOT. Pinnacle Bancorp Inc. purchased a new position in shares of Spotify Technology in the fourth quarter valued at about $29,000. GAMMA Investing LLC purchased a new position in shares of Spotify Technology in the fourth quarter valued at about $32,000. Lindbrook Capital LLC lifted its position in shares of Spotify Technology by 32.3% in the fourth quarter. Lindbrook Capital LLC now owns 205 shares of the company’s stock valued at $39,000 after acquiring an additional 50 shares in the last quarter. Beaird Harris Wealth Management LLC lifted its position in shares of Spotify Technology by 2,540.0% in the third quarter. Beaird Harris Wealth Management LLC now owns 264 shares of the company’s stock valued at $41,000 after acquiring an additional 254 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its position in shares of Spotify Technology by 191.4% in the fourth quarter. Quadrant Capital Group LLC now owns 271 shares of the company’s stock valued at $51,000 after acquiring an additional 178 shares in the last quarter. 84.09% of the stock is currently owned by hedge funds and other institutional investors.
Spotify Technology Trading Down 2.0 %
Shares of NYSE SPOT traded down $6.17 during trading on Wednesday, reaching $298.76. 1,375,530 shares of the company traded hands, compared to its average volume of 2,051,732. Spotify Technology S.A. has a 12-month low of $129.23 and a 12-month high of $319.30. The firm’s fifty day simple moving average is $284.71 and its 200 day simple moving average is $235.83. The stock has a market cap of $56.82 billion, a P/E ratio of -445.20 and a beta of 1.61.
Analysts Set New Price Targets
Several equities analysts have recently commented on the company. Morgan Stanley boosted their price objective on Spotify Technology from $270.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Wells Fargo & Company boosted their target price on Spotify Technology from $250.00 to $280.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. Barclays boosted their target price on Spotify Technology from $335.00 to $350.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 24th. Macquarie boosted their target price on Spotify Technology from $300.00 to $330.00 and gave the stock an “outperform” rating in a research report on Monday, April 22nd. Finally, DZ Bank upgraded Spotify Technology from a “sell” rating to a “hold” rating and set a $240.00 target price on the stock in a research report on Wednesday, February 7th. Eight analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, Spotify Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $306.42.
Check Out Our Latest Stock Report on SPOT
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.
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