449 Shares in Spotify Technology S.A. (NYSE:SPOT) Bought by Norden Group LLC

Norden Group LLC purchased a new stake in shares of Spotify Technology S.A. (NYSE:SPOT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 449 shares of the company’s stock, valued at approximately $201,000.

A number of other large investors have also added to or reduced their stakes in SPOT. First Horizon Advisors Inc. increased its position in shares of Spotify Technology by 5.8% during 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 during the last quarter. Joel Isaacson & Co. LLC boosted its stake in Spotify Technology by 1.9% in the fourth quarter. Joel Isaacson & Co. LLC now owns 1,559 shares of the company’s stock worth $697,000 after buying an additional 29 shares in the last quarter. Avior Wealth Management LLC grew its position in Spotify Technology by 12.0% during the third quarter. Avior Wealth Management LLC now owns 281 shares of the company’s stock valued at $104,000 after acquiring an additional 30 shares during the last quarter. Park National Corp OH raised its stake in shares of Spotify Technology by 4.1% during the fourth quarter. Park National Corp OH now owns 793 shares of the company’s stock worth $355,000 after acquiring an additional 31 shares in the last quarter. Finally, Washington Trust Advisors Inc. lifted its holdings in shares of Spotify Technology by 12.0% in the 3rd quarter. Washington Trust Advisors Inc. now owns 299 shares of the company’s stock worth $110,000 after acquiring an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Up 0.4 %

Spotify Technology stock opened at $586.51 on Thursday. Spotify Technology S.A. has a 52-week low of $249.58 and a 52-week high of $652.63. The company has a market cap of $120.06 billion, a P/E ratio of 98.57 and a beta of 1.66. The business has a 50-day simple moving average of $544.65 and a two-hundred day simple moving average of $451.00.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SPOT shares. Phillip Securities reiterated an “accumulate” rating and issued a $485.00 target price (up previously from $420.00) on shares of Spotify Technology in a research report on Wednesday, November 13th. TD Cowen lifted their price objective on Spotify Technology from $356.00 to $416.00 and gave the stock a “hold” rating in a report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft increased their target price on Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Citigroup lifted their price target on Spotify Technology from $540.00 to $720.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Finally, Morgan Stanley increased 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. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $529.43.

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.