Larson Financial Group LLC Has $64,000 Stock Holdings in Spotify Technology S.A. (NYSE:SPOT)

Larson Financial Group LLC raised its position in Spotify Technology S.A. (NYSE:SPOT) by 48.5% during the 4th quarter, HoldingsChannel reports. The fund owned 144 shares of the company’s stock after buying an additional 47 shares during the quarter. Larson Financial Group LLC’s holdings in Spotify Technology were worth $64,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of SPOT. Prestige Wealth Management Group LLC acquired a new stake in shares of Spotify Technology in the third quarter valued at about $26,000. Hobbs Group Advisors LLC bought a new position in Spotify Technology in the third quarter valued at approximately $33,000. Rakuten Securities Inc. increased its position in shares of Spotify Technology by 40.5% during the 3rd quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock worth $41,000 after purchasing an additional 32 shares during the last quarter. Quent Capital LLC raised its stake in shares of Spotify Technology by 135.7% during the 4th quarter. Quent Capital LLC now owns 99 shares of the company’s stock worth $44,000 after purchasing an additional 57 shares in the last quarter. Finally, Noble Wealth Management PBC bought a new stake in shares of Spotify Technology during the 4th quarter worth approximately $52,000. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Stock Up 5.6 %

NYSE:SPOT opened at $536.87 on Thursday. Spotify Technology S.A. has a twelve month low of $249.58 and a twelve month high of $652.63. The stock’s 50-day simple moving average is $551.54 and its 200 day simple moving average is $457.20. The firm has a market capitalization of $109.90 billion, a PE ratio of 90.23 and a beta of 1.66.

Analyst Ratings Changes

A number of equities analysts recently weighed in on SPOT shares. Redburn Atlantic initiated coverage on shares of Spotify Technology in a report on Tuesday. They set a “neutral” rating and a $545.00 target price on the stock. Guggenheim reissued a “buy” rating and issued a $675.00 price objective on shares of Spotify Technology in a research report on Monday, February 24th. Citigroup upped their target price on shares of Spotify Technology from $540.00 to $720.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Benchmark lifted their price target on Spotify Technology from $600.00 to $720.00 and gave the stock a “buy” rating in a report on Wednesday, February 5th. Finally, TD Cowen upped their price objective on Spotify Technology from $356.00 to $416.00 and gave the company a “hold” rating in a research note on Wednesday, November 13th. Eight equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $540.68.

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.