Huntington National Bank Purchases 371 Shares of Spotify Technology S.A. (NYSE:SPOT)

Huntington National Bank lifted its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 131.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 653 shares of the company’s stock after buying an additional 371 shares during the quarter. Huntington National Bank’s holdings in Spotify Technology were worth $292,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Prestige Wealth Management Group LLC bought a new position in shares of Spotify Technology in the third quarter worth about $26,000. Hillsdale Investment Management Inc. bought a new position in Spotify Technology in the 4th quarter worth approximately $27,000. Hobbs Group Advisors LLC purchased a new stake in Spotify Technology during the 3rd quarter valued at approximately $33,000. Quent Capital LLC raised its position in shares of 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 buying an additional 57 shares during the last quarter. Finally, Noble Wealth Management PBC purchased a new position in shares of Spotify Technology in the fourth quarter worth $52,000. Institutional investors own 84.09% of the company’s stock.

Wall Street Analyst Weigh In

SPOT has been the topic of a number of research reports. Guggenheim reiterated a “buy” rating and issued a $675.00 price target on shares of Spotify Technology in a report on Monday, February 24th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $658.00 target price (up from $473.00) on shares of Spotify Technology in a report on Wednesday, February 5th. China Renaissance started coverage on Spotify Technology in a research note on Wednesday, March 26th. They set a “buy” rating and a $740.00 price target for the company. UBS Group reduced their price objective on Spotify Technology from $720.00 to $690.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $480.00 target price (down from $490.00) on shares of Spotify Technology in a research report on Tuesday, January 28th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $557.47.

Spotify Technology Price Performance

Shares of Spotify Technology stock opened at $502.90 on Friday. Spotify Technology S.A. has a 1 year low of $267.76 and a 1 year high of $652.63. The stock has a market cap of $102.95 billion, a price-to-earnings ratio of 84.52 and a beta of 1.75. The firm’s 50-day moving average is $583.28 and its two-hundred day moving average is $484.42.

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.