Callan Capital LLC Invests $245,000 in Spotify Technology S.A. (NYSE:SPOT)

Callan Capital LLC purchased a new position in Spotify Technology S.A. (NYSE:SPOT) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 547 shares of the company’s stock, valued at approximately $245,000.

A number of other large investors also recently modified their holdings of SPOT. Aigen Investment Management LP lifted its position in Spotify Technology by 42.4% in the 3rd quarter. Aigen Investment Management LP now owns 9,800 shares of the company’s stock valued at $3,612,000 after purchasing an additional 2,918 shares during the last quarter. Jennison Associates LLC bought a new stake in Spotify Technology in the 4th quarter valued at about $1,335,575,000. Marks Group Wealth Management Inc bought a new stake in Spotify Technology in the 4th quarter valued at about $535,000. Patriot Financial Group Insurance Agency LLC bought a new stake in Spotify Technology in the 4th quarter valued at about $214,000. Finally, Pathway Capital Management LP lifted its position in Spotify Technology by 23.8% in the 3rd quarter. Pathway Capital Management LP now owns 57,340 shares of the company’s stock valued at $21,132,000 after purchasing an additional 11,042 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SPOT has been the topic of several recent research reports. Macquarie lifted their price objective on shares of Spotify Technology from $500.00 to $600.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $480.00 price objective (down from $490.00) on shares of Spotify Technology in a research report on Tuesday, January 28th. UBS Group raised their target price on shares of Spotify Technology from $485.00 to $540.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. KeyCorp raised their target price on shares of Spotify Technology from $555.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, The Goldman Sachs Group raised their target price on shares of Spotify Technology from $550.00 to $695.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $529.43.

Spotify Technology Price Performance

Shares of SPOT opened at $606.98 on Monday. Spotify Technology S.A. has a one year low of $243.99 and a one year high of $652.63. The company has a 50-day moving average of $523.55 and a two-hundred day moving average of $437.29. The stock has a market cap of $120.82 billion, a price-to-earnings ratio of 102.01 and a beta of 1.63.

Spotify Technology Profile

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.