Banco Santander S.A. Takes Position in Spotify Technology S.A. (NYSE:SPOT)

Banco Santander S.A. acquired a new position in Spotify Technology S.A. (NYSE:SPOT) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 549 shares of the company’s stock, valued at approximately $246,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Prestige Wealth Management Group LLC bought a new position in shares of Spotify Technology in the 3rd quarter worth about $26,000. Hobbs Group Advisors LLC acquired a new position in Spotify Technology in the third quarter valued at approximately $33,000. Larson Financial Group LLC boosted its stake in Spotify Technology by 51.6% in the third quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock valued at $36,000 after acquiring an additional 33 shares during the period. Rakuten Securities Inc. raised its position in shares of Spotify Technology by 40.5% during the 3rd quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock worth $41,000 after purchasing an additional 32 shares during the period. Finally, Quent Capital LLC lifted its holdings in shares of Spotify Technology by 135.7% in the 4th quarter. Quent Capital LLC now owns 99 shares of the company’s stock worth $44,000 after purchasing an additional 57 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on SPOT shares. Cantor Fitzgerald restated 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. Pivotal Research upped their price target on shares of Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Piper Sandler lifted their price objective on shares of Spotify Technology from $330.00 to $450.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Citigroup upped their target price on shares of Spotify Technology from $540.00 to $720.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Finally, Morgan Stanley lifted their price target on Spotify Technology from $550.00 to $670.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $529.43.

Spotify Technology Stock Performance

NYSE SPOT opened at $488.00 on Tuesday. Spotify Technology S.A. has a 1 year low of $249.58 and a 1 year high of $652.63. The business’s fifty day moving average is $548.54 and its two-hundred day moving average is $455.47. The stock has a market capitalization of $99.90 billion, a P/E ratio of 82.02 and a beta of 1.66.

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.