Amalgamated Bank Has $4.61 Million Stake in Spotify Technology S.A. (NYSE:SPOT)

Amalgamated Bank boosted its holdings in Spotify Technology S.A. (NYSE:SPOT) by 0.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,300 shares of the company’s stock after acquiring an additional 73 shares during the quarter. Amalgamated Bank’s holdings in Spotify Technology were worth $4,608,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of SPOT. Private Advisor Group LLC boosted its stake in shares of Spotify Technology by 13.3% in the 3rd quarter. Private Advisor Group LLC now owns 3,425 shares of the company’s stock worth $1,263,000 after buying an additional 402 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Spotify Technology by 263.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 17,040 shares of the company’s stock worth $6,280,000 after purchasing an additional 12,357 shares during the period. abrdn plc grew its stake in Spotify Technology by 16.6% in the 3rd quarter. abrdn plc now owns 47,051 shares of the company’s stock valued at $17,340,000 after buying an additional 6,693 shares in the last quarter. Integrated Advisors Network LLC grew its position in shares of Spotify Technology by 7.5% in the third quarter. Integrated Advisors Network LLC now owns 2,716 shares of the company’s stock valued at $1,001,000 after purchasing an additional 189 shares in the last quarter. Finally, New York State Teachers Retirement System increased its position in shares of Spotify Technology by 47.4% during the third quarter. New York State Teachers Retirement System now owns 2,705 shares of the company’s stock valued at $997,000 after buying an additional 870 shares during the period. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Piper Sandler raised their price target on Spotify Technology from $330.00 to $450.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Guggenheim restated a “buy” rating and set a $675.00 price target on shares of Spotify Technology in a research report on Monday. Macquarie upped their price target on shares of Spotify Technology from $500.00 to $600.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Pivotal Research increased their price objective on Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Citigroup upped their price objective on shares of Spotify Technology from $540.00 to $720.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $529.43.

Spotify Technology Stock Performance

Shares of Spotify Technology stock opened at $590.28 on Friday. The company has a 50-day simple moving average of $533.95 and a two-hundred day simple moving average of $443.05. The stock has a market capitalization of $117.50 billion, a PE ratio of 99.21 and a beta of 1.63. Spotify Technology S.A. has a 52-week low of $249.38 and a 52-week high of $652.63.

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.