Vestcor Inc Makes New Investment in Spotify Technology S.A. (NYSE:SPOT)

Vestcor Inc bought a new position in Spotify Technology S.A. (NYSE:SPOTFree Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,294 shares of the company’s stock, valued at approximately $1,026,000.

A number of other large investors have also bought and sold shares of SPOT. Auxano Advisors LLC grew its position in shares of Spotify Technology by 2.5% in the fourth quarter. Auxano Advisors LLC now owns 828 shares of the company’s stock valued at $370,000 after purchasing an additional 20 shares in the last quarter. SRS Capital Advisors Inc. grew its position in shares of Spotify Technology by 4.6% in 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 in the last quarter. First Horizon Advisors Inc. grew its position in shares of Spotify Technology by 5.8% in the third quarter. First Horizon Advisors Inc. now owns 478 shares of the company’s stock valued at $176,000 after purchasing an additional 26 shares in the last quarter. Cookson Peirce & Co. Inc. grew its position in shares of Spotify Technology by 1.9% in the fourth quarter. Cookson Peirce & Co. Inc. now owns 1,467 shares of the company’s stock valued at $656,000 after purchasing an additional 27 shares in the last quarter. Finally, Joel Isaacson & Co. LLC grew its position in shares of Spotify Technology by 1.9% in the fourth quarter. Joel Isaacson & Co. LLC now owns 1,559 shares of the company’s stock valued at $697,000 after purchasing an additional 29 shares in the last quarter. 84.09% of the stock is owned by hedge funds and other institutional investors.

Spotify Technology Stock Performance

SPOT stock opened at $576.02 on Friday. Spotify Technology S.A. has a fifty-two week low of $249.58 and a fifty-two week high of $652.63. The business’s 50 day moving average price is $555.35 and its two-hundred day moving average price is $460.27. The company has a market capitalization of $117.92 billion, a price-to-earnings ratio of 96.81 and a beta of 1.66.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on SPOT shares. JPMorgan Chase & Co. lifted their price objective on Spotify Technology from $555.00 to $730.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Benchmark lifted their price objective on Spotify Technology from $600.00 to $720.00 and gave the company a “buy” rating in a research note on Wednesday, February 5th. Barclays lifted their price objective on Spotify Technology from $475.00 to $710.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Macquarie lifted their price objective on Spotify Technology from $500.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Finally, Canaccord Genuity Group lifted their price objective on Spotify Technology from $650.00 to $700.00 and gave the company a “buy” rating in a research note on Wednesday, February 5th. Eight research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $540.68.

Get Our Latest Research Report on SPOT

About Spotify Technology

(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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Institutional Ownership by Quarter for Spotify Technology (NYSE:SPOT)

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