HighTower Advisors LLC Acquires 834 Shares of Spotify Technology S.A. (NYSE:SPOT)

HighTower Advisors LLC increased its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 5.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,383 shares of the company’s stock after purchasing an additional 834 shares during the quarter. HighTower Advisors LLC’s holdings in Spotify Technology were worth $7,777,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA lifted its holdings 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 position in Spotify Technology in the fourth quarter valued at about $1,335,575,000. State Street Corp lifted its holdings in Spotify Technology by 1.5% in the third quarter. State Street Corp now owns 1,997,323 shares of the company’s stock valued at $736,073,000 after acquiring an additional 28,864 shares during the period. FMR LLC lifted its holdings in Spotify Technology by 23.4% in the third quarter. FMR LLC now owns 1,567,818 shares of the company’s stock valued at $577,788,000 after acquiring an additional 297,035 shares during the period. Finally, Forsta AP Fonden bought a new position in Spotify Technology in the fourth quarter valued at about $619,600,000. 84.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SPOT has been the topic of a number of recent research reports. Wolfe Research reissued a “peer perform” rating on shares of Spotify Technology in a report on Friday, January 17th. The Goldman Sachs Group increased their target price on Spotify Technology from $550.00 to $695.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Canaccord Genuity Group increased their target price on Spotify Technology from $650.00 to $700.00 and gave the company a “buy” rating in a report on Wednesday, February 5th. Citigroup increased their target price on Spotify Technology from $540.00 to $720.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $480.00 price target (down previously from $490.00) on shares of Spotify Technology in a research report on Tuesday, January 28th. Eight equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $540.68.

Spotify Technology Price Performance

NYSE SPOT opened at $597.78 on Tuesday. The stock has a market capitalization of $122.37 billion, a PE ratio of 100.47 and a beta of 1.66. The business has a 50 day simple moving average of $557.92 and a two-hundred day simple moving average of $462.95. Spotify Technology S.A. has a 1-year low of $249.58 and a 1-year high of $652.63.

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.