Insigneo Advisory Services LLC Acquires 100 Shares of Spotify Technology S.A. (NYSE:SPOT)

Insigneo Advisory Services LLC boosted its holdings in Spotify Technology S.A. (NYSE:SPOT) by 10.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,053 shares of the company’s stock after purchasing an additional 100 shares during the period. Insigneo Advisory Services LLC’s holdings in Spotify Technology were worth $471,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SPOT. Geode Capital Management LLC lifted its stake in shares of Spotify Technology by 6.9% in the 3rd quarter. Geode Capital Management LLC now owns 224,209 shares of the company’s stock valued at $82,628,000 after acquiring an additional 14,426 shares during the last quarter. M&T Bank Corp lifted its position in Spotify Technology by 5.5% in the third quarter. M&T Bank Corp now owns 26,991 shares of the company’s stock valued at $9,947,000 after purchasing an additional 1,395 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Spotify Technology during the third quarter valued at approximately $1,782,000. Wilmington Savings Fund Society FSB bought a new position in shares of Spotify Technology in the third quarter worth approximately $1,477,000. Finally, Franklin Resources Inc. increased its stake in shares of Spotify Technology by 2.6% in the third quarter. Franklin Resources Inc. now owns 641,720 shares of the company’s stock worth $239,041,000 after buying an additional 16,511 shares during the period. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on SPOT shares. Wolfe Research reissued a “peer perform” rating on shares of Spotify Technology in a research report on Friday, January 17th. KeyCorp dropped their target price on shares of Spotify Technology from $675.00 to $625.00 and set an “overweight” rating for the company in a report on Wednesday, April 9th. UBS Group reduced their price target on Spotify Technology from $690.00 to $680.00 and set a “buy” rating on the stock in a report on Tuesday. The Goldman Sachs Group increased their price objective on Spotify Technology from $550.00 to $695.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Finally, FBN Securities began coverage on Spotify Technology in a research report on Friday, March 28th. They issued a “sector perform” rating and a $645.00 price objective on the stock. Nine analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $564.45.

Spotify Technology Stock Performance

NYSE:SPOT opened at $574.85 on Friday. The firm has a market cap of $117.68 billion, a P/E ratio of 96.61 and a beta of 1.75. Spotify Technology S.A. has a fifty-two week low of $267.76 and a fifty-two week high of $652.63. The firm has a 50-day simple moving average of $576.70 and a two-hundred day simple moving average of $497.49.

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.