Whalerock Point Partners LLC Invests $329,000 in Spotify Technology S.A. (NYSE:SPOT)

Whalerock Point Partners LLC purchased a new stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 735 shares of the company's stock, valued at approximately $329,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Auxano Advisors LLC raised its position in 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 during the last quarter. SRS Capital Advisors Inc. lifted 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 worth $256,000 after acquiring an additional 25 shares during the period. First Horizon Advisors Inc. lifted its stake in shares of Spotify Technology by 5.4% in the 4th quarter. First Horizon Advisors Inc. now owns 504 shares of the company's stock worth $225,000 after acquiring an additional 26 shares during the period. Harbour Investments Inc. lifted its stake in shares of Spotify Technology by 13.3% in the 4th quarter. Harbour Investments Inc. now owns 222 shares of the company's stock worth $99,000 after acquiring an additional 26 shares during the period. Finally, Cookson Peirce & Co. Inc. lifted 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 worth $656,000 after acquiring an additional 27 shares during the period. Hedge funds and other institutional investors own 84.09% of the company's stock.

Analyst Ratings Changes

SPOT has been the subject of several recent analyst reports. KeyCorp reduced their target price on shares of Spotify Technology from $675.00 to $625.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Macquarie raised their target price on shares of Spotify Technology from $600.00 to $665.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. Morgan Stanley raised their target price on shares of Spotify Technology from $550.00 to $670.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 5th. Wolfe Research upgraded shares of Spotify Technology from a "peer perform" rating to an "outperform" rating and set a $660.00 target price for the company in a research note on Monday, April 21st. Finally, Canaccord Genuity Group boosted their price objective on shares of Spotify Technology from $650.00 to $700.00 and gave the stock a "buy" rating in a report on Wednesday, February 5th. Seven equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $602.15.

Spotify Technology Price Performance

SPOT traded up $37.87 during trading on Wednesday, hitting $614.81. The company's stock had a trading volume of 4,229,828 shares, compared to its average volume of 2,146,579. The firm's 50 day moving average price is $569.14 and its 200-day moving average price is $510.43. The stock has a market cap of $125.86 billion, a PE ratio of 103.33 and a beta of 1.75. Spotify Technology S.A. has a twelve month low of $280.66 and a twelve month 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.