Generali Asset Management SPA SGR Takes Position in Spotify Technology S.A. (NYSE:SPOT)

Generali Asset Management SPA SGR bought a new stake in shares of Spotify Technology S.A. (NYSE:SPOT) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,461 shares of the company’s stock, valued at approximately $654,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Prestige Wealth Management Group LLC bought a new stake in Spotify Technology in the third quarter valued at approximately $26,000. Hobbs Group Advisors LLC bought a new stake in Spotify Technology during the 3rd quarter valued at $33,000. Larson Financial Group LLC raised its holdings in Spotify Technology by 51.6% during 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 boosted its position in Spotify Technology by 135.7% during the 4th quarter. Quent Capital LLC now owns 99 shares of the company’s stock valued at $44,000 after buying an additional 57 shares during the period. Finally, Noble Wealth Management PBC bought a new stake in Spotify Technology in the 4th quarter worth $52,000. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Price Performance

Shares of NYSE:SPOT opened at $592.78 on Friday. The business has a fifty day moving average price of $564.44 and a 200-day moving average price of $466.28. The company has a market capitalization of $121.35 billion, a PE ratio of 99.63 and a beta of 1.66. Spotify Technology S.A. has a 1-year low of $257.56 and a 1-year high of $652.63.

Analysts Set New Price Targets

Several brokerages have recently commented on SPOT. Rosenblatt Securities reaffirmed a “neutral” rating and set a $658.00 price objective (up from $473.00) on shares of Spotify Technology in a research note on Wednesday, February 5th. Benchmark upped their price target on Spotify Technology from $600.00 to $720.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. Canaccord Genuity Group lifted their price objective on Spotify Technology from $650.00 to $700.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. Wolfe Research reissued a “peer perform” rating on shares of Spotify Technology in a research note on Friday, January 17th. Finally, KeyCorp raised their price target on Spotify Technology from $555.00 to $600.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Eight research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company 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.