Creative Financial Designs Inc. ADV Has $126,000 Position in Spotify Technology S.A. (NYSE:SPOT)

Creative Financial Designs Inc. ADV grew its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 680.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 281 shares of the company’s stock after purchasing an additional 245 shares during the quarter. Creative Financial Designs Inc. ADV’s holdings in Spotify Technology were worth $126,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in SPOT. OneDigital Investment Advisors LLC grew its stake in shares of Spotify Technology by 38.9% in the third quarter. OneDigital Investment Advisors LLC now owns 1,074 shares of the company’s stock worth $396,000 after purchasing an additional 301 shares during the last quarter. Pathstone Holdings LLC lifted its holdings in Spotify Technology by 16.9% during the 3rd quarter. Pathstone Holdings LLC now owns 24,258 shares of the company’s stock worth $8,940,000 after buying an additional 3,515 shares during the period. Caprock Group LLC grew its position in shares of Spotify Technology by 4.4% in the 3rd quarter. Caprock Group LLC now owns 4,696 shares of the company’s stock valued at $1,731,000 after buying an additional 199 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Spotify Technology by 12.4% in the third quarter. PNC Financial Services Group Inc. now owns 11,763 shares of the company’s stock valued at $4,335,000 after buying an additional 1,299 shares during the period. Finally, Avior Wealth Management LLC raised its position in shares of Spotify Technology by 12.0% during the third quarter. Avior Wealth Management LLC now owns 281 shares of the company’s stock worth $104,000 after acquiring an additional 30 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on SPOT. Cantor Fitzgerald reiterated a “neutral” rating and issued a $480.00 target price (down from $490.00) on shares of Spotify Technology in a report on Tuesday, January 28th. Barclays upped their price objective on shares of Spotify Technology from $475.00 to $710.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Morgan Stanley boosted their target price on shares of Spotify Technology from $550.00 to $670.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Benchmark upped their price target on shares of Spotify Technology from $600.00 to $720.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. Finally, UBS Group lifted their price objective on Spotify Technology from $485.00 to $540.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Eight equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $540.68.

Spotify Technology Price Performance

SPOT opened at $592.78 on Friday. Spotify Technology S.A. has a fifty-two week low of $257.56 and a fifty-two week high of $652.63. The firm has a market capitalization of $121.35 billion, a PE ratio of 99.63 and a beta of 1.66. The company’s 50-day moving average is $564.44 and its 200 day moving average is $466.28.

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.