Benchmark Investment Advisors LLC Makes New $518,000 Investment in Spotify Technology S.A. (NYSE:SPOT)

Benchmark Investment Advisors LLC bought a new stake in shares of Spotify Technology S.A. (NYSE:SPOT) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,159 shares of the company’s stock, valued at approximately $518,000.

A number of other large investors have also recently made changes to their positions in the stock. Hillsdale Investment Management Inc. bought a new stake in Spotify Technology during the 4th quarter valued at $27,000. Prestige Wealth Management Group LLC bought a new position in shares of Spotify Technology during the 3rd quarter worth approximately $26,000. Hobbs Group Advisors LLC purchased a new stake in shares of Spotify Technology during the 3rd quarter valued at $33,000. Quent Capital LLC boosted its holdings in Spotify Technology by 135.7% in the fourth quarter. Quent Capital LLC now owns 99 shares of the company’s stock worth $44,000 after acquiring an additional 57 shares in the last quarter. Finally, Noble Wealth Management PBC acquired a new position in Spotify Technology during the 4th quarter valued at approximately $52,000. 84.09% of the stock is owned by hedge funds and other institutional investors.

Spotify Technology Stock Performance

Shares of Spotify Technology stock opened at $502.90 on Friday. The business has a 50-day simple moving average of $583.28 and a 200-day simple moving average of $485.42. Spotify Technology S.A. has a one year low of $267.76 and a one year high of $652.63. The company has a market cap of $102.95 billion, a PE ratio of 84.52 and a beta of 1.75.

Analysts Set New Price Targets

Several analysts have commented on SPOT shares. Rosenblatt Securities restated a “neutral” rating and set a $658.00 price objective (up from $473.00) on shares of Spotify Technology in a research note on Wednesday, February 5th. Barclays increased their target price on Spotify Technology from $475.00 to $710.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. JPMorgan Chase & Co. boosted their price objective on Spotify Technology from $555.00 to $730.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. UBS Group decreased their price target on shares of Spotify Technology from $720.00 to $690.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, KeyCorp upped their target price on Spotify Technology from $555.00 to $600.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Nine analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat, Spotify Technology presently has an average rating of “Moderate Buy” and an average target price of $557.47.

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.