Interchange Capital Partners LLC Buys Shares of 543 Spotify Technology S.A. (NYSE:SPOT)

Interchange Capital Partners LLC purchased a new position in Spotify Technology S.A. (NYSE:SPOT) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 543 shares of the company’s stock, valued at approximately $243,000.

A number of other large investors also recently modified their holdings of the business. Auxano Advisors LLC raised its stake in Spotify Technology by 2.5% during the 4th quarter. Auxano Advisors LLC now owns 828 shares of the company’s stock valued at $370,000 after purchasing an additional 20 shares during the last quarter. SRS Capital Advisors Inc. increased its holdings in shares of Spotify Technology by 4.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 573 shares of the company’s stock worth $256,000 after purchasing an additional 25 shares during the period. First Horizon Advisors Inc. raised its position in shares of Spotify Technology by 5.4% during the fourth quarter. First Horizon Advisors Inc. now owns 504 shares of the company’s stock valued at $225,000 after buying an additional 26 shares during the last quarter. Harbour Investments Inc. lifted its stake in shares of Spotify Technology by 13.3% in the fourth quarter. Harbour Investments Inc. now owns 222 shares of the company’s stock valued at $99,000 after buying an additional 26 shares during the period. Finally, Cookson Peirce & Co. Inc. grew its position in Spotify Technology by 1.9% during the fourth quarter. Cookson Peirce & Co. Inc. now owns 1,467 shares of the company’s stock worth $656,000 after buying an additional 27 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Stock Up 0.9 %

Shares of SPOT stock opened at $605.18 on Tuesday. The firm has a market cap of $123.88 billion, a price-to-earnings ratio of 101.71 and a beta of 1.66. Spotify Technology S.A. has a 12 month low of $257.56 and a 12 month high of $652.63. The stock has a 50-day moving average price of $570.20 and a 200 day moving average price of $471.97.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. UBS Group upped 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. Morgan Stanley upped their target price on Spotify Technology from $550.00 to $670.00 and gave the company an “overweight” rating 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. Barclays increased 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. Finally, JPMorgan Chase & Co. lifted their target price on shares of Spotify Technology from $555.00 to $730.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Eight analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $540.68.

About Spotify Technology

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.