Oppenheimer Asset Management Inc. Has $3.28 Million Holdings in Spotify Technology S.A. (NYSE:SPOT)

Oppenheimer Asset Management Inc. increased its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 110.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,321 shares of the company’s stock after acquiring an additional 3,848 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Spotify Technology were worth $3,275,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. WCM Investment Management LLC increased its position in Spotify Technology by 18.5% in the 3rd quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock valued at $1,430,142,000 after buying an additional 605,755 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Spotify Technology by 3.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,492,170 shares of the company’s stock valued at $1,286,969,000 after acquiring an additional 102,786 shares during the period. Jennison Associates LLC bought a new stake in shares of Spotify Technology during the fourth quarter valued at approximately $1,335,575,000. State Street Corp raised its position in shares of Spotify Technology by 1.5% during the third quarter. State Street Corp now owns 1,997,323 shares of the company’s stock worth $736,073,000 after purchasing an additional 28,864 shares during the period. Finally, FMR LLC lifted its holdings in shares of Spotify Technology by 23.4% in the 3rd quarter. FMR LLC now owns 1,567,818 shares of the company’s stock worth $577,788,000 after purchasing an additional 297,035 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Stock Up 2.9 %

Spotify Technology stock opened at $608.16 on Friday. The business has a 50-day simple moving average of $536.90 and a 200 day simple moving average of $445.69. Spotify Technology S.A. has a 52 week low of $249.58 and a 52 week high of $652.63. The stock has a market cap of $121.06 billion, a price-to-earnings ratio of 102.21 and a beta of 1.63.

Analysts Set New Price Targets

A number of brokerages have commented on SPOT. Piper Sandler boosted their price target 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. UBS Group raised their price target on shares of Spotify Technology from $485.00 to $540.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Rosenblatt Securities reissued a “neutral” rating and set a $658.00 price objective (up from $473.00) on shares of Spotify Technology in a report on Wednesday, February 5th. JPMorgan Chase & Co. raised their target price on Spotify Technology from $555.00 to $730.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $529.43.

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.