OneDigital Investment Advisors LLC Acquires 1,577 Shares of Spotify Technology S.A. (NYSE:SPOT)

OneDigital Investment Advisors LLC increased its position in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 146.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,651 shares of the company's stock after purchasing an additional 1,577 shares during the period. OneDigital Investment Advisors LLC's holdings in Spotify Technology were worth $1,186,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Hillsdale Investment Management Inc. acquired a new stake in shares of Spotify Technology in the fourth quarter valued at $27,000. Quent Capital LLC lifted its holdings in Spotify Technology by 135.7% in the 4th quarter. Quent Capital LLC now owns 99 shares of the company's stock valued at $44,000 after acquiring an additional 57 shares during the last quarter. Noble Wealth Management PBC bought a new position in shares of Spotify Technology during the 4th quarter valued at about $52,000. Larson Financial Group LLC grew its stake in shares of Spotify Technology by 48.5% in the 4th quarter. Larson Financial Group LLC now owns 144 shares of the company's stock worth $64,000 after purchasing an additional 47 shares during the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of Spotify Technology by 89.9% in the 4th quarter. Versant Capital Management Inc now owns 150 shares of the company's stock worth $67,000 after purchasing an additional 71 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Trading Up 3.9 %

Spotify Technology stock traded up $22.24 during trading hours on Wednesday, reaching $599.18. 1,770,722 shares of the company were exchanged, compared to its average volume of 2,134,087. Spotify Technology S.A. has a 12 month low of $280.37 and a 12 month high of $652.63. The stock has a 50-day moving average of $569.14 and a 200 day moving average of $510.43. The firm has a market cap of $122.66 billion, a price-to-earnings ratio of 100.64 and a beta of 1.75.

Analyst Upgrades and Downgrades

SPOT has been the topic of a number of recent research reports. 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 report on Wednesday, February 5th. China Renaissance began coverage on Spotify Technology in a research note on Wednesday, March 26th. They issued a "buy" rating and a $740.00 price target on the stock. Rosenblatt Securities reduced their price objective on shares of Spotify Technology from $658.00 to $657.00 and set a "neutral" rating for the company in a research note on Wednesday. JPMorgan Chase & Co. cut their price target on shares of Spotify Technology from $730.00 to $640.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Redburn Atlantic started coverage on shares of Spotify Technology in a research note on Tuesday, March 11th. They issued a "neutral" rating and a $545.00 price objective for the company. Seven 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 data from MarketBeat, Spotify Technology presently has an average rating of "Moderate Buy" and an average target price of $603.26.

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.