Natural Investments LLC Acquires Shares of 655 Spotify Technology S.A. (NYSE:SPOT)

Natural Investments LLC acquired a new position in shares of Spotify Technology S.A. (NYSE:SPOT) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 655 shares of the company’s stock, valued at approximately $292,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of SPOT. Principal Financial Group Inc. boosted its holdings in Spotify Technology by 11.8% in the third quarter. Principal Financial Group Inc. now owns 39,578 shares of the company’s stock valued at $14,586,000 after purchasing an additional 4,192 shares in the last quarter. Atria Investments Inc lifted its position in shares of Spotify Technology by 7.3% during the 3rd quarter. Atria Investments Inc now owns 8,315 shares of the company’s stock worth $3,064,000 after buying an additional 568 shares during the last quarter. Covestor Ltd boosted its holdings in shares of Spotify Technology by 160.5% in the 3rd quarter. Covestor Ltd now owns 198 shares of the company’s stock valued at $73,000 after buying an additional 122 shares in the last quarter. Axxcess Wealth Management LLC grew its position in shares of Spotify Technology by 232.5% in the 3rd quarter. Axxcess Wealth Management LLC now owns 2,939 shares of the company’s stock valued at $1,083,000 after buying an additional 2,055 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its stake in Spotify Technology by 80.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 956 shares of the company’s stock worth $352,000 after acquiring an additional 426 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. TD Cowen upped their price objective on shares of Spotify Technology from $356.00 to $416.00 and gave the company a “hold” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. upped their target price on Spotify Technology from $555.00 to $730.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Cantor Fitzgerald restated a “neutral” rating and set a $480.00 price target (down previously from $490.00) on shares of Spotify Technology in a research note on Tuesday, January 28th. Morgan Stanley boosted their price objective on Spotify Technology from $550.00 to $670.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Finally, Wells Fargo & Company raised their target price on shares of Spotify Technology from $520.00 to $690.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Eight investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $540.68.

Spotify Technology Trading Up 5.6 %

Shares of SPOT opened at $536.87 on Thursday. Spotify Technology S.A. has a twelve month low of $249.58 and a twelve month high of $652.63. The firm has a market capitalization of $109.90 billion, a P/E ratio of 90.23 and a beta of 1.66. The firm’s 50-day moving average is $551.54 and its two-hundred day moving average is $457.20.

About Spotify Technology

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.