Spotify Technology S.A. (NYSE:SPOT) Shares Acquired by Level Four Advisory Services LLC

Level Four Advisory Services LLC increased its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 5.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,546 shares of the company’s stock after acquiring an additional 137 shares during the period. Level Four Advisory Services LLC’s holdings in Spotify Technology were worth $1,139,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Jennison Associates LLC purchased a new stake in shares of Spotify Technology during the fourth quarter worth approximately $1,335,575,000. State Street Corp boosted its stake in Spotify Technology by 1.5% during the 3rd quarter. State Street Corp now owns 1,997,323 shares of the company’s stock worth $736,073,000 after purchasing an additional 28,864 shares during the last quarter. GQG Partners LLC purchased a new stake in shares of Spotify Technology during the fourth quarter worth $800,725,000. Forsta AP Fonden acquired a new stake in shares of Spotify Technology in the fourth quarter valued at about $619,600,000. Finally, Two Sigma Advisers LP lifted its stake in shares of Spotify Technology by 19.0% in the third quarter. Two Sigma Advisers LP now owns 980,000 shares of the company’s stock worth $361,159,000 after buying an additional 156,300 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Analyst Upgrades and Downgrades

SPOT has been the subject of a number of recent research reports. FBN Securities started coverage on shares of Spotify Technology in a report on Friday. They issued a “sector perform” rating and a $645.00 price objective for the company. UBS Group increased their price target on Spotify Technology from $485.00 to $540.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Citigroup boosted their price objective on Spotify Technology from $540.00 to $720.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Morgan Stanley upped their target price on Spotify Technology from $550.00 to $670.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Finally, The Goldman Sachs Group lifted their price target on Spotify Technology from $550.00 to $695.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Nine research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $552.47.

Spotify Technology Stock Down 3.5 %

Spotify Technology stock opened at $559.76 on Friday. Spotify Technology S.A. has a 52-week low of $260.80 and a 52-week high of $652.63. The firm has a market cap of $114.59 billion, a PE ratio of 94.08 and a beta of 1.66. The company’s 50 day moving average is $578.28 and its two-hundred day moving average is $478.17.

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.