Spotify Technology S.A. (NYSE:SPOT) Shares Bought by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC lifted its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 82.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,707 shares of the company’s stock after buying an additional 1,223 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Spotify Technology were worth $1,211,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Prestige Wealth Management Group LLC purchased a new stake in Spotify Technology during the 3rd quarter worth about $26,000. Hobbs Group Advisors LLC acquired a new stake in Spotify Technology during the third quarter worth approximately $33,000. Larson Financial Group LLC lifted its position in shares of Spotify Technology by 51.6% during the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock worth $36,000 after buying an additional 33 shares during the last quarter. Quent Capital LLC boosted its holdings in shares of Spotify Technology by 135.7% in the 4th quarter. Quent Capital LLC now owns 99 shares of the company’s stock valued at $44,000 after buying an additional 57 shares in the last quarter. Finally, Rakuten Securities Inc. grew its position in shares of Spotify Technology by 40.5% in the 3rd quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock valued at $41,000 after buying an additional 32 shares during the last quarter. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SPOT shares. Macquarie boosted their price target on shares of Spotify Technology from $500.00 to $600.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Benchmark boosted their target price on Spotify Technology from $600.00 to $720.00 and gave the company a “buy” rating in a report on Wednesday, February 5th. Bank of America raised their price target on 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 issued a $658.00 price objective (up previously from $473.00) on shares of Spotify Technology in a research note on Wednesday, February 5th. Finally, UBS Group raised their target price on shares of Spotify Technology from $485.00 to $540.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $529.43.

Spotify Technology Stock Performance

Shares of NYSE SPOT opened at $602.53 on Thursday. The company’s fifty day moving average is $531.23 and its two-hundred day moving average is $442.02. The firm has a market capitalization of $119.94 billion, a P/E ratio of 101.27 and a beta of 1.63. Spotify Technology S.A. has a one year low of $249.38 and a one year high of $652.63.

Spotify Technology Company 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.