Citizens Financial Group Inc. RI Invests $206,000 in Spotify Technology S.A. (NYSE:SPOT)

Citizens Financial Group Inc. RI bought a new position in shares of Spotify Technology S.A. (NYSE:SPOT) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 460 shares of the company’s stock, valued at approximately $206,000.

Other large investors have also recently bought and sold shares of the company. Prestige Wealth Management Group LLC acquired a new stake in Spotify Technology during the third quarter worth approximately $26,000. Hobbs Group Advisors LLC acquired a new position in shares of Spotify Technology in the 3rd quarter valued at $33,000. Larson Financial Group LLC grew its position in shares of Spotify Technology by 51.6% in the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock valued at $36,000 after buying an additional 33 shares during the last quarter. Quent Capital LLC raised its stake in 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 acquiring an additional 57 shares in the last quarter. Finally, Noble Wealth Management PBC purchased a new stake in Spotify Technology in the fourth quarter valued at $52,000. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Wolfe Research reiterated a “peer perform” rating on shares of Spotify Technology in a research report on Friday, January 17th. KeyCorp lifted their price target on Spotify Technology from $555.00 to $600.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Citigroup increased their price objective on Spotify Technology from $540.00 to $720.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $480.00 target price (down from $490.00) on shares of Spotify Technology in a report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. increased their price target on shares of Spotify Technology from $555.00 to $730.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Eight equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $540.68.

Spotify Technology Trading Up 7.1 %

Shares of NYSE:SPOT opened at $576.02 on Friday. The stock has a market capitalization of $117.92 billion, a PE ratio of 96.81 and a beta of 1.66. Spotify Technology S.A. has a 1 year low of $249.58 and a 1 year high of $652.63. The firm has a fifty day moving average price of $555.35 and a 200 day moving average price of $459.43.

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.