MML Investors Services LLC Acquires 6,229 Shares of Spotify Technology S.A. (NYSE:SPOT)

MML Investors Services LLC raised its position in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 51.8% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 18,243 shares of the company's stock after acquiring an additional 6,229 shares during the period. MML Investors Services LLC's holdings in Spotify Technology were worth $8,162,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Auxano Advisors LLC raised its holdings in Spotify Technology by 2.5% during the fourth quarter. Auxano Advisors LLC now owns 828 shares of the company's stock worth $370,000 after acquiring an additional 20 shares in the last quarter. SRS Capital Advisors Inc. increased its position 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 last quarter. First Horizon Advisors Inc. raised its stake in shares of Spotify Technology by 5.4% during the 4th quarter. First Horizon Advisors Inc. now owns 504 shares of the company's stock worth $225,000 after purchasing an additional 26 shares in the last quarter. Harbour Investments Inc. boosted its holdings in shares of Spotify Technology by 13.3% in the 4th 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 last quarter. Finally, Cookson Peirce & Co. Inc. grew its stake in shares of Spotify Technology by 1.9% in the fourth quarter. Cookson Peirce & Co. Inc. now owns 1,467 shares of the company's stock valued at $656,000 after buying an additional 27 shares in the last quarter. Institutional investors own 84.09% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on SPOT shares. Citigroup lifted their price objective on shares of Spotify Technology from $540.00 to $720.00 and gave the company a "neutral" rating in a research report on Friday, February 14th. Wolfe Research upgraded Spotify Technology from a "peer perform" rating to an "outperform" rating and set a $660.00 price target for the company in a report on Monday, April 21st. UBS Group dropped their price objective on Spotify Technology from $690.00 to $680.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Canaccord Genuity Group lifted their target price on Spotify Technology from $650.00 to $700.00 and gave the stock a "buy" rating in a research note on Wednesday, February 5th. Finally, Redburn Atlantic assumed coverage on Spotify Technology in a research note on Tuesday, March 11th. They issued a "neutral" rating and a $545.00 price target on the stock. Seven 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 presently has a consensus rating of "Moderate Buy" and an average target price of $596.26.

Spotify Technology Stock Performance

Shares of NYSE SPOT traded down $34.59 during trading hours on Tuesday, hitting $563.14. 5,126,556 shares of the stock were exchanged, compared to its average volume of 2,113,821. The company's fifty day simple moving average is $570.33 and its two-hundred day simple moving average is $509.96. The company has a market cap of $115.28 billion, a PE ratio of 94.50 and a beta of 1.75. Spotify Technology S.A. has a 1-year low of $280.37 and a 1-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.