Empower Advisory Group LLC Has $875,000 Stock Holdings in Spotify Technology S.A. (NYSE:SPOT)

Empower Advisory Group LLC lessened its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 2.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,956 shares of the company’s stock after selling 40 shares during the period. Empower Advisory Group LLC’s holdings in Spotify Technology were worth $875,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SPOT. Prestige Wealth Management Group LLC acquired a new stake in shares of Spotify Technology in the third quarter worth $26,000. Hobbs Group Advisors LLC acquired a new stake in shares of Spotify Technology in the third quarter worth $33,000. Larson Financial Group LLC grew its stake in shares of Spotify Technology by 51.6% in the third quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock worth $36,000 after acquiring an additional 33 shares during the last quarter. Quent Capital LLC grew its stake in shares of Spotify Technology by 135.7% in the fourth quarter. Quent Capital LLC now owns 99 shares of the company’s stock worth $44,000 after acquiring an additional 57 shares during the last quarter. Finally, V Square Quantitative Management LLC acquired a new stake in shares of Spotify Technology in the third quarter worth $40,000. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Price Performance

Shares of SPOT stock opened at $631.40 on Wednesday. The stock has a market cap of $125.68 billion, a PE ratio of 106.12 and a beta of 1.63. The stock has a 50-day moving average of $511.45 and a 200-day moving average of $428.76. Spotify Technology S.A. has a one year low of $239.66 and a one year high of $652.63.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SPOT. Bank of America lifted their price target on shares of Spotify Technology from $430.00 to $515.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Rosenblatt Securities reiterated a “neutral” rating and set a $658.00 price target (up previously from $473.00) on shares of Spotify Technology in a research note on Wednesday, February 5th. Canaccord Genuity Group lifted their price target on shares of Spotify Technology from $650.00 to $700.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. Benchmark lifted their price target on shares of Spotify Technology from $600.00 to $720.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. Finally, Phillip Securities reiterated an “accumulate” rating and set a $485.00 price target (up previously from $420.00) on shares of Spotify Technology in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, Spotify Technology presently has an average rating of “Moderate Buy” and a consensus target price of $529.43.

Spotify Technology 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.