615 Shares in Spotify Technology S.A. (NYSE:SPOT) Bought by Arete Wealth Advisors LLC

Arete Wealth Advisors LLC bought a new position in shares of Spotify Technology S.A. (NYSE:SPOT) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 615 shares of the company’s stock, valued at approximately $277,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Huntington National Bank raised its holdings in Spotify Technology by 131.6% during the 4th quarter. Huntington National Bank now owns 653 shares of the company’s stock worth $292,000 after purchasing an additional 371 shares during the last quarter. Geode Capital Management LLC raised its stake in Spotify Technology by 561.6% during the fourth quarter. Geode Capital Management LLC now owns 1,483,392 shares of the company’s stock worth $659,841,000 after buying an additional 1,259,183 shares during the last quarter. HighPoint Advisor Group LLC lifted its holdings in Spotify Technology by 35.3% in the fourth quarter. HighPoint Advisor Group LLC now owns 1,207 shares of the company’s stock valued at $540,000 after buying an additional 315 shares during the period. Franklin Resources Inc. boosted its position in Spotify Technology by 34.9% during the fourth quarter. Franklin Resources Inc. now owns 865,725 shares of the company’s stock valued at $387,308,000 after acquiring an additional 224,005 shares during the last quarter. Finally, Seven Mile Advisory grew its holdings in Spotify Technology by 25.6% during the 4th quarter. Seven Mile Advisory now owns 1,411 shares of the company’s stock worth $631,000 after acquiring an additional 288 shares during the period. 84.09% of the stock is owned by institutional investors and hedge funds.

Spotify Technology Price Performance

Shares of SPOT stock opened at $502.90 on Monday. Spotify Technology S.A. has a 1 year low of $267.76 and a 1 year high of $652.63. The company’s fifty day simple moving average is $583.28 and its two-hundred day simple moving average is $486.41. The stock has a market capitalization of $102.95 billion, a price-to-earnings ratio of 84.52 and a beta of 1.75.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SPOT. Rosenblatt Securities restated a “neutral” rating and set a $658.00 price target (up from $473.00) on shares of Spotify Technology in a report on Wednesday, February 5th. JPMorgan Chase & Co. raised their price target on shares of Spotify Technology from $555.00 to $730.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. China Renaissance assumed coverage on shares of Spotify Technology in a report on Wednesday, March 26th. They set a “buy” rating and a $740.00 price objective on the stock. FBN Securities initiated coverage on Spotify Technology in a report on Friday, March 28th. They issued a “sector perform” rating and a $645.00 price target on the stock. Finally, Benchmark boosted their price objective on Spotify Technology from $600.00 to $720.00 and gave the company a “buy” rating in a report on Wednesday, February 5th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat.com, Spotify Technology presently has an average rating of “Moderate Buy” and a consensus price target of $557.47.

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.