EverSource Wealth Advisors LLC Purchases 95 Shares of Spotify Technology S.A. (NYSE:SPOT)

EverSource Wealth Advisors LLC lifted its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 14.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 751 shares of the company’s stock after buying an additional 95 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Spotify Technology were worth $336,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SPOT. Auxano Advisors LLC boosted its holdings in Spotify Technology by 2.5% in the 4th quarter. Auxano Advisors LLC now owns 828 shares of the company’s stock valued at $370,000 after purchasing an additional 20 shares during the period. SRS Capital Advisors Inc. boosted its stake in shares of Spotify Technology by 4.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 573 shares of the company’s stock valued at $256,000 after buying an additional 25 shares during the period. First Horizon Advisors Inc. grew its position in Spotify Technology by 5.8% during the third quarter. First Horizon Advisors Inc. now owns 478 shares of the company’s stock worth $176,000 after buying an additional 26 shares in the last quarter. Cookson Peirce & Co. Inc. increased its stake in Spotify Technology by 1.9% during the 4th quarter. Cookson Peirce & Co. Inc. now owns 1,467 shares of the company’s stock worth $656,000 after acquiring an additional 27 shares during the period. Finally, Joel Isaacson & Co. LLC raised its holdings in Spotify Technology by 1.9% in the 4th quarter. Joel Isaacson & Co. LLC now owns 1,559 shares of the company’s stock valued at $697,000 after acquiring an additional 29 shares in the last quarter. Institutional investors own 84.09% of the company’s stock.

Analysts Set New Price Targets

SPOT has been the topic of several analyst reports. The Goldman Sachs Group increased their target price on Spotify Technology from $550.00 to $695.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Benchmark raised their target price on shares of Spotify Technology from $600.00 to $720.00 and gave the company a “buy” rating in a report on Wednesday, February 5th. Wells Fargo & Company upped their price target on shares of Spotify Technology from $520.00 to $690.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Guggenheim reissued a “buy” rating and issued a $675.00 price objective on shares of Spotify Technology in a research note on Monday, February 24th. Finally, Wolfe Research restated a “peer perform” rating on shares of Spotify Technology in a research note on Friday, January 17th. Eight investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, Spotify Technology has a consensus rating of “Moderate Buy” and a consensus target price of $540.68.

Spotify Technology Stock Performance

Shares of SPOT opened at $576.02 on Friday. The firm has a market cap of $117.92 billion, a PE ratio of 96.81 and a beta of 1.66. Spotify Technology S.A. has a 52-week low of $249.58 and a 52-week high of $652.63. The business’s 50 day moving average price is $555.35 and its two-hundred day moving average price is $460.27.

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.