MONECO Advisors LLC Invests $2.46 Million in Spotify Technology S.A. (NYSE:SPOT)

MONECO Advisors LLC purchased a new stake in shares of Spotify Technology S.A. (NYSE:SPOT) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 5,507 shares of the company’s stock, valued at approximately $2,464,000.

Other large investors have also recently bought and sold shares of the company. Aigen Investment Management LP raised its position in Spotify Technology by 42.4% during the third quarter. Aigen Investment Management LP now owns 9,800 shares of the company’s stock valued at $3,612,000 after buying an additional 2,918 shares during the period. Jennison Associates LLC acquired a new position in Spotify Technology during the fourth quarter valued at $1,335,575,000. Marks Group Wealth Management Inc acquired a new position in Spotify Technology during the fourth quarter valued at $535,000. Patriot Financial Group Insurance Agency LLC acquired a new position in Spotify Technology during the fourth quarter valued at $214,000. Finally, Pathway Capital Management LP raised its position in Spotify Technology by 23.8% during the third quarter. Pathway Capital Management LP now owns 57,340 shares of the company’s stock valued at $21,132,000 after buying an additional 11,042 shares during the period. 84.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on SPOT shares. The Goldman Sachs Group upped their price target on Spotify Technology from $550.00 to $695.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Rosenblatt Securities restated a “neutral” rating and issued a $658.00 target price (up previously from $473.00) on shares of Spotify Technology in a research note on Wednesday, February 5th. Piper Sandler boosted their target price on Spotify Technology from $330.00 to $450.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Morgan Stanley boosted their target price on Spotify Technology from $550.00 to $670.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Finally, UBS Group boosted their target price on Spotify Technology from $485.00 to $540.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. One 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $529.43.

Spotify Technology Stock Down 4.7 %

Shares of NYSE:SPOT opened at $606.98 on Friday. The business has a 50 day moving average price of $523.55 and a 200 day moving average price of $436.50. Spotify Technology S.A. has a twelve month low of $243.99 and a twelve month high of $652.63. The company has a market cap of $120.82 billion, a price-to-earnings ratio of 102.01 and a beta of 1.63.

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.