J. Safra Sarasin Holding AG Purchases 5,536 Shares of Spotify Technology S.A. (NYSE:SPOT)

J. Safra Sarasin Holding AG raised its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 862.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,178 shares of the company’s stock after purchasing an additional 5,536 shares during the period. J. Safra Sarasin Holding AG’s holdings in Spotify Technology were worth $2,764,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of SPOT. Auxano Advisors LLC boosted its position in shares of Spotify Technology by 2.5% in the 4th quarter. Auxano Advisors LLC now owns 828 shares of the company’s stock worth $370,000 after purchasing an additional 20 shares during the last quarter. SRS Capital Advisors Inc. grew its position in shares of Spotify Technology by 4.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 573 shares of the company’s stock worth $256,000 after buying an additional 25 shares during the period. First Horizon Advisors Inc. grew its position in shares of Spotify Technology by 5.4% during the 4th quarter. First Horizon Advisors Inc. now owns 504 shares of the company’s stock worth $225,000 after buying an additional 26 shares during the period. Harbour Investments Inc. increased its stake in shares of Spotify Technology by 13.3% in the 4th quarter. Harbour Investments Inc. now owns 222 shares of the company’s stock valued at $99,000 after acquiring an additional 26 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. raised its position in shares of Spotify Technology by 1.9% in the 4th quarter. Cookson Peirce & Co. Inc. now owns 1,467 shares of the company’s stock valued at $656,000 after acquiring an additional 27 shares during the period. Institutional investors own 84.09% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on SPOT shares. Benchmark lifted their price target on shares of Spotify Technology from $600.00 to $720.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. Macquarie lifted their target price on Spotify Technology from $500.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Barclays increased their price target on Spotify Technology from $475.00 to $710.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. KeyCorp decreased their price objective on Spotify Technology from $675.00 to $625.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. Finally, The Goldman Sachs Group raised their target price on shares of Spotify Technology from $550.00 to $695.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Eight equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $573.76.

Spotify Technology Trading Down 2.5 %

Spotify Technology stock opened at $559.76 on Tuesday. Spotify Technology S.A. has a 12 month low of $267.76 and a 12 month high of $652.63. The business’s fifty day simple moving average is $574.12 and its two-hundred day simple moving average is $501.93. The company has a market capitalization of $114.59 billion, a price-to-earnings ratio of 94.08 and a beta of 1.75.

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.