Sequoia Financial Advisors LLC Purchases 845 Shares of Spotify Technology S.A. (NYSE:SPOT)

Sequoia Financial Advisors LLC grew its position in Spotify Technology S.A. (NYSE:SPOT) by 69.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,066 shares of the company’s stock after acquiring an additional 845 shares during the period. Sequoia Financial Advisors LLC’s holdings in Spotify Technology were worth $924,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Auxano Advisors LLC raised its stake in shares of Spotify Technology by 2.5% in the fourth quarter. Auxano Advisors LLC now owns 828 shares of the company’s stock valued at $370,000 after acquiring an additional 20 shares during the last quarter. SRS Capital Advisors Inc. raised its position in Spotify Technology by 4.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 573 shares of the company’s stock worth $256,000 after purchasing an additional 25 shares during the last quarter. First Horizon Advisors Inc. raised its position in Spotify Technology by 5.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 478 shares of the company’s stock worth $176,000 after purchasing an additional 26 shares during the last quarter. Cookson Peirce & Co. Inc. raised its position in Spotify Technology by 1.9% in the 4th quarter. Cookson Peirce & Co. Inc. now owns 1,467 shares of the company’s stock worth $656,000 after purchasing an additional 27 shares during the last quarter. Finally, Joel Isaacson & Co. LLC raised its position in Spotify Technology by 1.9% in the 4th quarter. Joel Isaacson & Co. LLC now owns 1,559 shares of the company’s stock worth $697,000 after purchasing an additional 29 shares during the last quarter. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Price Performance

NYSE:SPOT opened at $576.02 on Monday. Spotify Technology S.A. has a fifty-two week low of $249.58 and a fifty-two week high of $652.63. The stock has a market capitalization of $117.92 billion, a PE ratio of 96.81 and a beta of 1.66. The business’s 50-day simple moving average is $555.35 and its 200-day simple moving average is $461.13.

Analyst Upgrades and Downgrades

SPOT has been the subject of several research analyst reports. Morgan Stanley boosted their price objective on shares of Spotify Technology from $550.00 to $670.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Citigroup boosted their price objective 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. Wolfe Research restated a “peer perform” rating on shares of Spotify Technology in a research report on Friday, January 17th. Cantor Fitzgerald restated a “neutral” rating and issued a $480.00 price objective (down previously from $490.00) on shares of Spotify Technology in a research report on Tuesday, January 28th. Finally, The Goldman Sachs Group lifted their target price on shares of Spotify Technology from $550.00 to $695.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Eight analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, Spotify Technology has a consensus rating of “Moderate Buy” and a consensus price target of $540.68.

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.