Meitav Investment House Ltd. Increases Stake in Spotify Technology S.A. (NYSE:SPOT)

Meitav Investment House Ltd. increased its holdings in Spotify Technology S.A. (NYSE:SPOT) by 84.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,126 shares of the company’s stock after purchasing an additional 514 shares during the period. Meitav Investment House Ltd.’s holdings in Spotify Technology were worth $504,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. First Horizon Advisors Inc. boosted its stake in shares of Spotify Technology by 5.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 478 shares of the company’s stock valued at $176,000 after purchasing an additional 26 shares in the last quarter. West Bancorporation Inc. boosted its position in Spotify Technology by 3.4% during the 3rd quarter. West Bancorporation Inc. now owns 827 shares of the company’s stock valued at $305,000 after buying an additional 27 shares during the period. Joel Isaacson & Co. LLC boosted its position in Spotify Technology by 1.9% during the 4th quarter. Joel Isaacson & Co. LLC now owns 1,559 shares of the company’s stock valued at $697,000 after buying an additional 29 shares during the period. Avior Wealth Management LLC boosted its position in Spotify Technology by 12.0% during the 3rd quarter. Avior Wealth Management LLC now owns 281 shares of the company’s stock valued at $104,000 after buying an additional 30 shares during the period. Finally, Park National Corp OH boosted its position in Spotify Technology by 4.1% during the 4th quarter. Park National Corp OH now owns 793 shares of the company’s stock valued at $355,000 after buying an additional 31 shares during the period. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of Spotify Technology from $555.00 to $730.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. TD Cowen increased their price target on shares of Spotify Technology from $356.00 to $416.00 and gave the company a “hold” rating in a research report on Wednesday, November 13th. Piper Sandler increased their price target 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. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $480.00 target price (down from $490.00) on shares of Spotify Technology in a research report on Tuesday, January 28th. Finally, Citigroup raised 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, Spotify Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $529.43.

Spotify Technology Stock Performance

NYSE:SPOT opened at $636.52 on Friday. The firm has a market cap of $126.70 billion, a P/E ratio of 106.98 and a beta of 1.63. Spotify Technology S.A. has a fifty-two week low of $240.73 and a fifty-two week high of $652.63. The firm has a 50-day simple moving average of $521.07 and a two-hundred day simple moving average of $433.77.

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.