1,136 Shares in Spotify Technology S.A. (NYSE:SPOT) Purchased by Wasatch Advisors LP

Wasatch Advisors LP purchased a new stake in Spotify Technology S.A. (NYSE:SPOT) in the fourth quarter, Holdings Channel reports. The institutional investor purchased 1,136 shares of the company’s stock, valued at approximately $508,000.

Other large investors also recently made changes to their positions in the company. NewEdge Advisors LLC boosted its holdings in Spotify Technology by 37.4% during the fourth quarter. NewEdge Advisors LLC now owns 9,199 shares of the company’s stock worth $4,115,000 after buying an additional 2,505 shares in the last quarter. Insigneo Advisory Services LLC grew its holdings in shares of Spotify Technology by 10.5% in the 4th quarter. Insigneo Advisory Services LLC now owns 1,053 shares of the company’s stock worth $471,000 after acquiring an additional 100 shares during the last quarter. United Capital Financial Advisors LLC raised its position in shares of Spotify Technology by 165.9% during the fourth quarter. United Capital Financial Advisors LLC now owns 6,058 shares of the company’s stock worth $2,710,000 after purchasing an additional 3,780 shares during the period. Gamco Investors INC. ET AL lifted its holdings in shares of Spotify Technology by 0.4% during the fourth quarter. Gamco Investors INC. ET AL now owns 11,499 shares of the company’s stock valued at $5,144,000 after purchasing an additional 49 shares during the last quarter. Finally, Jump Financial LLC acquired a new position in shares of Spotify Technology in the 4th quarter valued at $9,717,000. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Performance

Shares of SPOT stock opened at $574.85 on Friday. The stock’s 50 day simple moving average is $576.70 and its 200 day simple moving average is $497.49. Spotify Technology S.A. has a twelve month low of $267.76 and a twelve month high of $652.63. The company has a market capitalization of $117.68 billion, a price-to-earnings ratio of 96.61 and a beta of 1.75.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Rosenblatt Securities restated a “neutral” rating and set a $658.00 price objective (up previously from $473.00) on shares of Spotify Technology in a report on Wednesday, February 5th. Guggenheim restated a “buy” rating and set a $675.00 price target on shares of Spotify Technology in a report on Monday, February 24th. The Goldman Sachs Group lifted their price objective on shares of Spotify Technology from $550.00 to $695.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Redburn Atlantic began coverage on Spotify Technology in a report on Tuesday, March 11th. They issued a “neutral” rating and a $545.00 target price for the company. Finally, Wolfe Research reiterated a “peer perform” rating on shares of Spotify Technology in a report on Friday, January 17th. Nine equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, Spotify Technology currently has an average rating of “Moderate Buy” and a consensus target price of $564.45.

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.