Spotify Technology S.A. (NYSE:SPOT) Shares Acquired by Venturi Wealth Management LLC

Venturi Wealth Management LLC grew its position in Spotify Technology S.A. (NYSE:SPOT) by 60.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,532 shares of the company’s stock after purchasing an additional 576 shares during the quarter. Venturi Wealth Management LLC’s holdings in Spotify Technology were worth $685,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Creative Planning raised its stake in Spotify Technology by 1.9% during the 3rd quarter. Creative Planning now owns 6,351 shares of the company’s stock worth $2,341,000 after acquiring an additional 118 shares in the last quarter. Blue Trust Inc. raised its stake in Spotify Technology by 705.0% during the 3rd quarter. Blue Trust Inc. now owns 1,457 shares of the company’s stock worth $537,000 after acquiring an additional 1,276 shares in the last quarter. Raymond James & Associates raised its stake in Spotify Technology by 25.9% during the 3rd quarter. Raymond James & Associates now owns 37,807 shares of the company’s stock worth $13,933,000 after acquiring an additional 7,777 shares in the last quarter. Whittier Trust Co. acquired a new stake in Spotify Technology during the 3rd quarter worth $648,000. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in Spotify Technology by 557.7% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 342 shares of the company’s stock worth $126,000 after acquiring an additional 290 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Trading Up 1.8 %

SPOT stock opened at $641.78 on Thursday. The company has a market cap of $127.75 billion, a P/E ratio of 107.86 and a beta of 1.63. Spotify Technology S.A. has a 52 week low of $239.66 and a 52 week high of $652.63. The company’s 50-day moving average price is $517.95 and its 200 day moving average price is $432.35.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SPOT. The Goldman Sachs Group lifted their price objective 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. KeyCorp lifted their price objective 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. Benchmark lifted their price objective on shares of Spotify Technology from $600.00 to $720.00 and gave the company a “buy” rating in a research note on Wednesday, February 5th. Pivotal Research lifted their price objective on shares of Spotify Technology from $510.00 to $565.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Piper Sandler lifted their price objective on shares of Spotify Technology from $330.00 to $450.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, Spotify Technology presently has an average rating of “Moderate Buy” and a consensus price target of $529.43.

Spotify Technology Company 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.