Whittier Trust Co. of Nevada Inc. Buys 567 Shares of Spotify Technology S.A. (NYSE:SPOT)

Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 165.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 909 shares of the company’s stock after purchasing an additional 567 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Spotify Technology were worth $407,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of SPOT. Prestige Wealth Management Group LLC purchased a new stake in shares of Spotify Technology in the third quarter valued at $26,000. Hobbs Group Advisors LLC purchased a new position in Spotify Technology in the 3rd quarter worth about $33,000. Larson Financial Group LLC increased its stake in Spotify Technology by 51.6% in the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock worth $36,000 after buying an additional 33 shares during the period. Quent Capital LLC increased its stake in Spotify Technology by 135.7% in the 4th quarter. Quent Capital LLC now owns 99 shares of the company’s stock worth $44,000 after buying an additional 57 shares during the period. Finally, Noble Wealth Management PBC purchased a new position in Spotify Technology in the 4th quarter worth about $52,000. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Up 0.9 %

SPOT stock opened at $599.64 on Friday. The firm has a 50 day moving average of $567.23 and a 200 day moving average of $469.03. The stock has a market capitalization of $122.75 billion, a PE ratio of 100.78 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.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on SPOT shares. The Goldman Sachs Group raised their price target on shares of Spotify Technology from $550.00 to $695.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. UBS Group raised their price target on shares of Spotify Technology from $485.00 to $540.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Wells Fargo & Company raised their price target on shares of Spotify Technology from $520.00 to $690.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Macquarie increased their target price on shares of Spotify Technology from $500.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Finally, KeyCorp increased their target price on shares of Spotify Technology from $555.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $540.68.

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.