Trillium Asset Management LLC Acquires 14,144 Shares of Spotify Technology S.A. (NYSE:SPOT)

Trillium Asset Management LLC increased its holdings in Spotify Technology S.A. (NYSE:SPOT) by 35.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,490 shares of the company’s stock after purchasing an additional 14,144 shares during the quarter. Trillium Asset Management LLC’s holdings in Spotify Technology were worth $23,931,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Prestige Wealth Management Group LLC bought a new stake in Spotify Technology during the third quarter valued at $26,000. Hobbs Group Advisors LLC bought a new stake in Spotify Technology during the third quarter valued at $33,000. Larson Financial Group LLC boosted its position in Spotify Technology by 51.6% during the third quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock valued at $36,000 after acquiring an additional 33 shares during the last quarter. Quent Capital LLC boosted its position in Spotify Technology by 135.7% during the fourth quarter. Quent Capital LLC now owns 99 shares of the company’s stock valued at $44,000 after acquiring an additional 57 shares during the last quarter. Finally, Noble Wealth Management PBC bought a new stake in Spotify Technology during the fourth quarter valued at $52,000. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Down 4.7 %

Shares of SPOT stock opened at $569.63 on Wednesday. The company has a 50 day moving average of $560.06 and a 200-day moving average of $464.55. Spotify Technology S.A. has a 12-month low of $249.58 and a 12-month high of $652.63. The firm has a market cap of $116.61 billion, a P/E ratio of 95.74 and a beta of 1.66.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on SPOT shares. Canaccord Genuity Group increased their price objective on shares of Spotify Technology from $650.00 to $700.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. Morgan Stanley increased their price objective on shares of Spotify Technology from $550.00 to $670.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Cantor Fitzgerald reissued a “neutral” rating and set a $480.00 price objective (down previously from $490.00) on shares of Spotify Technology in a research report on Tuesday, January 28th. Citigroup increased their price objective on shares of Spotify Technology from $540.00 to $720.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Finally, The Goldman Sachs Group increased their price objective on shares of Spotify Technology from $550.00 to $695.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Eight research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.