Left Brain Wealth Management LLC Acquires Shares of 1,182 Spotify Technology S.A. (NYSE:SPOT)

Left Brain Wealth Management LLC bought a new stake in Spotify Technology S.A. (NYSE:SPOTFree Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 1,182 shares of the company’s stock, valued at approximately $529,000.

A number of other institutional investors have also modified their holdings of the stock. Auxano Advisors LLC raised its stake in shares of Spotify Technology by 2.5% in 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 in the last quarter. SRS Capital Advisors Inc. raised its stake in shares of Spotify Technology by 4.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 573 shares of the company’s stock valued at $256,000 after purchasing an additional 25 shares in the last quarter. First Horizon Advisors Inc. raised its stake in shares of Spotify Technology by 5.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 478 shares of the company’s stock valued at $176,000 after purchasing an additional 26 shares in the last quarter. Cookson Peirce & Co. Inc. raised its stake in shares of Spotify Technology by 1.9% in the 4th quarter. Cookson Peirce & Co. Inc. now owns 1,467 shares of the company’s stock valued at $656,000 after purchasing an additional 27 shares in the last quarter. Finally, Joel Isaacson & Co. LLC raised its stake in shares of Spotify Technology by 1.9% in the 4th quarter. Joel Isaacson & Co. LLC now owns 1,559 shares of the company’s stock valued at $697,000 after purchasing an additional 29 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Price Performance

Spotify Technology stock opened at $539.11 on Friday. The firm has a 50 day simple moving average of $553.16 and a 200-day simple moving average of $457.77. The stock has a market capitalization of $110.36 billion, a PE ratio of 90.61 and a beta of 1.66. Spotify Technology S.A. has a 12-month low of $249.58 and a 12-month high of $652.63.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Benchmark upped their target price on shares of Spotify Technology from $600.00 to $720.00 and gave the company a “buy” rating in a research note on Wednesday, February 5th. JPMorgan Chase & Co. increased their price objective on shares of Spotify Technology from $555.00 to $730.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. The Goldman Sachs Group increased their price objective on shares of Spotify Technology from $550.00 to $695.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Guggenheim reiterated a “buy” rating and set a $675.00 price objective on shares of Spotify Technology in a research note on Monday, February 24th. Finally, Wells Fargo & Company increased their price objective on shares of Spotify Technology from $520.00 to $690.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Eight equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, Spotify Technology presently has a consensus rating of “Moderate Buy” and an average target price of $540.68.

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Spotify Technology Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Spotify Technology (NYSE:SPOT)

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