Brooklyn FI LLC Takes $658,000 Position in Spotify Technology S.A. (NYSE:SPOT)

Brooklyn FI LLC acquired a new stake in shares of Spotify Technology S.A. (NYSE:SPOT) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,536 shares of the company’s stock, valued at approximately $658,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Trillium Asset Management LLC grew its holdings in shares of Spotify Technology by 35.9% in the fourth quarter. Trillium Asset Management LLC now owns 53,490 shares of the company’s stock valued at $23,931,000 after purchasing an additional 14,144 shares in the last quarter. Xponance Inc. grew its holdings in shares of Spotify Technology by 8.8% in the fourth quarter. Xponance Inc. now owns 21,097 shares of the company’s stock valued at $9,438,000 after purchasing an additional 1,711 shares in the last quarter. OPTIMAS CAPITAL Ltd grew its holdings in shares of Spotify Technology by 17.2% in the fourth quarter. OPTIMAS CAPITAL Ltd now owns 6,800 shares of the company’s stock valued at $3,042,000 after purchasing an additional 1,000 shares in the last quarter. Generali Asset Management SPA SGR purchased a new position in shares of Spotify Technology in the fourth quarter valued at $654,000. Finally, Thrivent Financial for Lutherans grew its holdings in shares of Spotify Technology by 566.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 7,980 shares of the company’s stock valued at $3,541,000 after purchasing an additional 6,782 shares in the last quarter. Institutional investors own 84.09% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on SPOT shares. Barclays raised their target price on shares of Spotify Technology from $475.00 to $710.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Wells Fargo & Company lifted their price objective on shares of Spotify Technology from $520.00 to $690.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $658.00 price objective (up from $473.00) on shares of Spotify Technology in a research note on Wednesday, February 5th. Macquarie lifted their price objective on shares of Spotify Technology from $500.00 to $600.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $480.00 price objective (down from $490.00) on shares of Spotify Technology in a research note on Tuesday, January 28th. Eight equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $540.68.

Spotify Technology Stock Performance

Shares of Spotify Technology stock opened at $585.75 on Thursday. The company has a market capitalization of $119.91 billion, a PE ratio of 98.45 and a beta of 1.66. The company has a 50-day simple moving average of $562.18 and a two-hundred day simple moving average of $465.39. Spotify Technology S.A. has a one year low of $254.42 and a one year high of $652.63.

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.