Wealth Alliance Makes New Investment in Spotify Technology S.A. (NYSE:SPOT)

Wealth Alliance bought a new position in Spotify Technology S.A. (NYSE:SPOT) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 792 shares of the company’s stock, valued at approximately $354,000.

A number of other institutional investors have also added to or reduced their stakes in SPOT. Prestige Wealth Management Group LLC bought a new position in shares of Spotify Technology during the 3rd quarter valued at about $26,000. Hobbs Group Advisors LLC bought a new position in shares of Spotify Technology during the 3rd quarter valued at about $33,000. Larson Financial Group LLC increased its position in shares of 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 purchasing an additional 33 shares during the last quarter. Rakuten Securities Inc. increased its position in shares of Spotify Technology by 40.5% during the 3rd quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock valued at $41,000 after purchasing an additional 32 shares during the last quarter. Finally, Quent Capital LLC increased its position in shares of 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 purchasing an additional 57 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Stock Down 4.7 %

NYSE SPOT opened at $606.98 on Friday. Spotify Technology S.A. has a twelve month low of $243.99 and a twelve month high of $652.63. The firm has a market capitalization of $120.82 billion, a PE ratio of 102.01 and a beta of 1.63. The stock’s 50 day moving average is $523.55 and its 200 day moving average is $435.73.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Benchmark increased their price objective on Spotify Technology from $600.00 to $720.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. Piper Sandler increased their price objective on Spotify Technology from $330.00 to $450.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Wells Fargo & Company increased their target price on Spotify Technology from $520.00 to $690.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft raised their price target on Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, Phillip Securities restated an “accumulate” rating and set a $485.00 price target (up from $420.00) on shares of Spotify Technology in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $529.43.

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.