Bailard Inc. Increases Stake in Spotify Technology S.A. (NYSE:SPOT)

Bailard Inc. grew its holdings in shares of Spotify Technology S.A. (NYSE:SPOTFree Report) by 79.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 40,648 shares of the company’s stock after buying an additional 17,960 shares during the period. Bailard Inc.’s holdings in Spotify Technology were worth $18,185,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Prestige Wealth Management Group LLC purchased a new position in shares of Spotify Technology during the third quarter valued at approximately $26,000. Hobbs Group Advisors LLC purchased a new position in shares of Spotify Technology during the third quarter valued at approximately $33,000. Larson Financial Group LLC boosted its position in shares of Spotify Technology by 51.6% during the third quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock valued at $36,000 after purchasing an additional 33 shares in the last quarter. Quent Capital LLC boosted 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 purchasing an additional 57 shares in the last quarter. Finally, Rakuten Securities Inc. boosted its position in shares of Spotify Technology by 40.5% during the third quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock valued at $41,000 after purchasing an additional 32 shares in the last quarter. 84.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SPOT has been the topic of several research reports. Guggenheim restated a “buy” rating and set a $675.00 price target on shares of Spotify Technology in a research report on Monday, February 24th. Piper Sandler lifted their price target on Spotify Technology from $330.00 to $450.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group lifted 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. Benchmark lifted their price target on Spotify Technology from $600.00 to $720.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $529.43.

Read Our Latest Stock Analysis on Spotify Technology

Spotify Technology Stock Performance

Spotify Technology stock opened at $608.16 on Friday. The stock has a market cap of $121.06 billion, a PE ratio of 102.21 and a beta of 1.63. Spotify Technology S.A. has a one year low of $249.58 and a one year high of $652.63. The stock has a fifty day moving average of $536.90 and a 200 day moving average of $445.69.

Spotify Technology Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Spotify Technology (NYSE:SPOT)

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