Spotify Technology S.A. (NYSE:SPOT) Shares Acquired by WealthPLAN Partners LLC

WealthPLAN Partners LLC lifted its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 4.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 753 shares of the company’s stock after buying an additional 34 shares during the period. WealthPLAN Partners LLC’s holdings in Spotify Technology were worth $337,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. WCM Investment Management LLC lifted its stake in shares of Spotify Technology by 18.5% during the third quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock worth $1,430,142,000 after buying an additional 605,755 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Spotify Technology by 3.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,492,170 shares of the company’s stock worth $1,286,969,000 after purchasing an additional 102,786 shares during the last quarter. Jennison Associates LLC purchased a new position in shares of Spotify Technology during the fourth quarter worth $1,335,575,000. State Street Corp raised its holdings in shares of Spotify Technology by 1.5% during the third quarter. State Street Corp now owns 1,997,323 shares of the company’s stock worth $736,073,000 after purchasing an additional 28,864 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of Spotify Technology by 23.4% during the third quarter. FMR LLC now owns 1,567,818 shares of the company’s stock worth $577,788,000 after purchasing an additional 297,035 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Price Performance

NYSE:SPOT opened at $637.75 on Friday. The firm has a market capitalization of $126.95 billion, a price-to-earnings ratio of 107.18 and a beta of 1.63. The company’s 50-day moving average is $508.35 and its two-hundred day moving average is $425.40. Spotify Technology S.A. has a 1-year low of $239.66 and a 1-year high of $652.63.

Analyst Ratings Changes

Several research analysts recently issued reports on SPOT shares. Wells Fargo & Company raised their target price on shares of Spotify Technology from $520.00 to $690.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Benchmark raised their target price on shares of Spotify Technology from $600.00 to $720.00 and gave the stock a “buy” rating in a report on Wednesday, February 5th. Morgan Stanley lifted their price objective on shares of Spotify Technology from $550.00 to $670.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Macquarie lifted their price objective on shares of Spotify Technology from $500.00 to $600.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Finally, Guggenheim lifted their price objective on shares of Spotify Technology from $520.00 to $675.00 and gave the company a “buy” rating in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $529.43.

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.