Stifel Financial Corp Grows Stake in Spotify Technology S.A. (NYSE:SPOT)

Stifel Financial Corp grew its holdings in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 5.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,324 shares of the company's stock after buying an additional 3,241 shares during the quarter. Stifel Financial Corp's holdings in Spotify Technology were worth $30,120,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in SPOT. Thrivent Financial for Lutherans grew its stake in shares of Spotify Technology by 566.1% in the 4th quarter. Thrivent Financial for Lutherans now owns 7,980 shares of the company's stock worth $3,541,000 after acquiring an additional 6,782 shares in the last quarter. Jennison Associates LLC purchased a new position in Spotify Technology during the fourth quarter worth about $1,335,575,000. Marks Group Wealth Management Inc bought a new stake in Spotify Technology in the 4th quarter worth about $535,000. Patriot Financial Group Insurance Agency LLC bought a new position in shares of Spotify Technology during the 4th quarter worth approximately $214,000. Finally, Swedbank AB lifted its position in shares of Spotify Technology by 20.9% during the 4th quarter. Swedbank AB now owns 946,129 shares of the company's stock worth $423,279,000 after buying an additional 163,626 shares in the last quarter. 84.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on SPOT shares. Redburn Atlantic began coverage on Spotify Technology in a research report on Tuesday, March 11th. They set a "neutral" rating and a $545.00 price target for the company. Guggenheim reiterated a "buy" rating and issued a $675.00 target price on shares of Spotify Technology in a research note on Monday, February 24th. Barclays raised their price objective on shares of Spotify Technology from $475.00 to $710.00 and gave the stock an "overweight" rating in a report on Wednesday, February 5th. Morgan Stanley raised their price target on Spotify Technology from $550.00 to $670.00 and gave the stock an "overweight" rating in a report on Wednesday, February 5th. Finally, Benchmark upped their price target on shares of Spotify Technology from $600.00 to $720.00 and gave the stock a "buy" rating in a report on Wednesday, February 5th. Seven 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.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $603.26.

Spotify Technology Stock Performance

Shares of NYSE SPOT traded up $22.24 during mid-day trading on Wednesday, hitting $599.18. The stock had a trading volume of 1,770,722 shares, compared to its average volume of 2,134,087. The business has a 50 day moving average price of $569.14 and a two-hundred day moving average price of $510.43. Spotify Technology S.A. has a 1 year low of $280.37 and a 1 year high of $652.63. The firm has a market cap of $122.66 billion, a P/E ratio of 100.64 and a beta of 1.75.

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.