Federated Hermes Inc. Acquires 77,651 Shares of Spotify Technology S.A. (NYSE:SPOT)

Federated Hermes Inc. lifted its holdings in Spotify Technology S.A. (NYSE:SPOT) by 16.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 547,669 shares of the company’s stock after purchasing an additional 77,651 shares during the quarter. Federated Hermes Inc. owned about 0.28% of Spotify Technology worth $245,037,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of SPOT. Prestige Wealth Management Group LLC acquired a new position in shares of Spotify Technology in the third quarter valued at approximately $26,000. Hillsdale Investment Management Inc. acquired a new position in Spotify Technology in the 4th quarter worth $27,000. Hobbs Group Advisors LLC bought a new position in Spotify Technology during the 3rd quarter worth about $33,000. Quent Capital LLC raised its stake in shares of Spotify Technology by 135.7% in 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 period. Finally, Noble Wealth Management PBC acquired a new position in shares of Spotify Technology during the fourth quarter worth about $52,000. 84.09% of the stock is owned by institutional investors.

Spotify Technology Price Performance

Shares of NYSE SPOT opened at $502.90 on Friday. The firm has a market cap of $102.95 billion, a price-to-earnings ratio of 84.52 and a beta of 1.75. The stock’s fifty day moving average price is $583.28 and its two-hundred day moving average price is $485.42. Spotify Technology S.A. has a one year low of $267.76 and a one year high of $652.63.

Analysts Set New Price Targets

SPOT has been the topic of a number of recent research reports. Macquarie lifted their target price on Spotify Technology from $500.00 to $600.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Redburn Atlantic assumed coverage on shares of Spotify Technology in a report on Tuesday, March 11th. They issued a “neutral” rating and a $545.00 price objective on the stock. Benchmark increased 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. UBS Group lowered their price target on shares of Spotify Technology from $720.00 to $690.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Barclays increased their price objective on shares of Spotify Technology from $475.00 to $710.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Nine investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $557.47.

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.