Dorsey & Whitney Trust CO LLC Makes New $268,000 Investment in Spotify Technology S.A. (NYSE:SPOT)

Dorsey & Whitney Trust CO LLC bought a new position in Spotify Technology S.A. (NYSE:SPOT) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 599 shares of the company’s stock, valued at approximately $268,000.

Several other large investors have also added to or reduced their stakes in SPOT. Massachusetts Financial Services Co. MA boosted its position in shares of Spotify Technology by 3.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,492,170 shares of the company’s stock valued at $1,286,969,000 after acquiring an additional 102,786 shares during the last quarter. Jennison Associates LLC bought a new stake in shares of Spotify Technology during the 4th quarter valued at about $1,335,575,000. State Street Corp boosted its position in shares of Spotify Technology by 1.5% during the 3rd quarter. State Street Corp now owns 1,997,323 shares of the company’s stock valued at $736,073,000 after acquiring an additional 28,864 shares during the last quarter. FMR LLC boosted its position in shares of Spotify Technology by 23.4% during the 3rd quarter. FMR LLC now owns 1,567,818 shares of the company’s stock valued at $577,788,000 after acquiring an additional 297,035 shares during the last quarter. Finally, Forsta AP Fonden bought a new stake in shares of Spotify Technology during the 4th quarter valued at about $619,600,000. Institutional investors own 84.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. KeyCorp lifted their price target on Spotify Technology from $555.00 to $600.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. 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 report on Wednesday, November 13th. JPMorgan Chase & Co. lifted their price target on Spotify Technology from $555.00 to $730.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Bank of America raised their price objective on Spotify Technology from $430.00 to $515.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Wells Fargo & Company raised their price objective on Spotify Technology from $520.00 to $690.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Eight investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $540.68.

Spotify Technology Stock Performance

Shares of SPOT stock opened at $507.66 on Wednesday. The firm has a market cap of $103.92 billion, a P/E ratio of 85.32 and a beta of 1.66. Spotify Technology S.A. has a fifty-two week low of $249.58 and a fifty-two week high of $652.63. The business’s 50 day moving average price is $549.75 and its 200-day moving average price is $456.64.

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.