Ballentine Partners LLC boosted its position in shares of Spotify Technology (NYSE:SPOT – Free Report) by 33.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,260 shares of the company’s stock after acquiring an additional 316 shares during the period. Ballentine Partners LLC’s holdings in Spotify Technology were worth $693,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Cornerstone Planning Group LLC grew its stake in Spotify Technology by 512.5% during the first quarter. Cornerstone Planning Group LLC now owns 49 shares of the company’s stock valued at $29,000 after acquiring an additional 41 shares in the last quarter. Tsfg LLC purchased a new position in Spotify Technology during the first quarter valued at approximately $28,000. North Star Investment Management Corp. grew its stake in Spotify Technology by 52.8% during the first quarter. North Star Investment Management Corp. now owns 55 shares of the company’s stock valued at $30,000 after acquiring an additional 19 shares in the last quarter. Mpwm Advisory Solutions LLC bought a new stake in Spotify Technology during the fourth quarter valued at approximately $26,000. Finally, Hillsdale Investment Management Inc. bought a new stake in Spotify Technology during the fourth quarter valued at approximately $27,000. Hedge funds and other institutional investors own 84.09% of the company’s stock.
Spotify Technology Trading Up 1.1%
Shares of NYSE SPOT opened at $716.76 on Tuesday. Spotify Technology has a 12 month low of $288.07 and a 12 month high of $785.00. The firm has a market capitalization of $146.73 billion, a PE ratio of 118.87, a price-to-earnings-growth ratio of 1.88 and a beta of 1.68. The firm has a fifty day simple moving average of $691.37 and a two-hundred day simple moving average of $604.73.
Wall Street Analyst Weigh In
Several brokerages have issued reports on SPOT. KeyCorp lifted their target price on shares of Spotify Technology from $640.00 to $860.00 and gave the company an “overweight” rating in a research report on Friday. Phillip Securities upgraded shares of Spotify Technology to a “moderate sell” rating in a research report on Monday, May 5th. The Goldman Sachs Group lifted their target price on shares of Spotify Technology from $680.00 to $775.00 and gave the company a “buy” rating in a research report on Wednesday, July 2nd. Morgan Stanley lifted their target price on shares of Spotify Technology from $700.00 to $850.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. Finally, Evercore ISI boosted their price objective on shares of Spotify Technology from $650.00 to $750.00 and gave the stock an “outperform” rating in a report on Monday, June 16th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, Spotify Technology currently has a consensus rating of “Moderate Buy” and an average price target of $701.31.
Get Our Latest Stock Report on Spotify Technology
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.
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