Bank of Hawaii Purchases 88 Shares of Spotify Technology S.A. (NYSE:SPOT)

Bank of Hawaii raised its position in Spotify Technology S.A. (NYSE:SPOT) by 12.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 770 shares of the company’s stock after purchasing an additional 88 shares during the quarter. Bank of Hawaii’s holdings in Spotify Technology were worth $344,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Bessemer Group Inc. raised its stake in shares of Spotify Technology by 2,034.4% during the fourth quarter. Bessemer Group Inc. now owns 158,992 shares of the company’s stock valued at $71,129,000 after acquiring an additional 151,543 shares during the last quarter. CenterBook Partners LP increased its holdings in Spotify Technology by 822.8% in the fourth quarter. CenterBook Partners LP now owns 36,599 shares of the company’s stock valued at $16,374,000 after purchasing an additional 32,633 shares during the period. Martingale Asset Management L P raised its position in Spotify Technology by 13.3% during the 4th quarter. Martingale Asset Management L P now owns 735 shares of the company’s stock worth $329,000 after purchasing an additional 86 shares during the last quarter. Abacus FCF Advisors LLC acquired a new position in Spotify Technology during the 4th quarter worth about $7,910,000. Finally, Bank of Nova Scotia lifted its holdings in Spotify Technology by 36.4% during the 4th quarter. Bank of Nova Scotia now owns 750 shares of the company’s stock worth $336,000 after buying an additional 200 shares during the period. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Price Performance

Shares of SPOT stock opened at $553.91 on Friday. The firm has a 50-day moving average of $583.39 and a 200-day moving average of $491.92. Spotify Technology S.A. has a one year low of $267.76 and a one year high of $652.63. The company has a market cap of $113.39 billion, a P/E ratio of 93.09 and a beta of 1.75.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. KeyCorp lowered their price objective on Spotify Technology from $675.00 to $625.00 and set an “overweight” rating for the company in a research report on Wednesday. Barclays boosted their price target on shares of Spotify Technology from $475.00 to $710.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. FBN Securities started coverage on shares of Spotify Technology in a research note on Friday, March 28th. They issued a “sector perform” rating and a $645.00 price objective on the stock. Wolfe Research reissued a “peer perform” rating on shares of Spotify Technology in a research note on Friday, January 17th. Finally, China Renaissance assumed coverage on shares of Spotify Technology in a research report on Wednesday, March 26th. They set a “buy” rating and a $740.00 price target on the stock. Nine research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $555.30.

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.