Personal CFO Solutions LLC Purchases 109 Shares of Spotify Technology S.A. (NYSE:SPOT)

Personal CFO Solutions LLC increased its position in Spotify Technology S.A. (NYSE:SPOT) by 4.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,686 shares of the company’s stock after purchasing an additional 109 shares during the period. Personal CFO Solutions LLC’s holdings in Spotify Technology were worth $1,202,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of SPOT. Jennison Associates LLC bought a new position in Spotify Technology during the 4th quarter valued at $1,335,575,000. Forsta AP Fonden bought a new position in Spotify Technology during the 4th quarter valued at $619,600,000. WCM Investment Management LLC lifted its stake in Spotify Technology by 18.5% during the 3rd quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock valued at $1,430,142,000 after acquiring an additional 605,755 shares in the last quarter. Amundi lifted its stake in Spotify Technology by 194.2% during the 4th quarter. Amundi now owns 750,030 shares of the company’s stock valued at $359,812,000 after acquiring an additional 495,087 shares in the last quarter. Finally, FMR LLC lifted its stake in Spotify Technology by 23.4% during the 3rd quarter. FMR LLC now owns 1,567,818 shares of the company’s stock valued at $577,788,000 after acquiring an additional 297,035 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Stock Down 2.3 %

SPOT stock opened at $531.15 on Friday. The firm has a market capitalization of $108.73 billion, a PE ratio of 89.27 and a beta of 1.66. Spotify Technology S.A. has a twelve month low of $249.58 and a twelve month high of $652.63. The stock has a 50-day simple moving average of $547.82 and a two-hundred day simple moving average of $453.67.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Rosenblatt Securities restated a “neutral” rating and set a $658.00 price objective (up from $473.00) on shares of Spotify Technology in a research note on Wednesday, February 5th. Guggenheim reaffirmed a “buy” rating and set a $675.00 target price on shares of Spotify Technology in a research report on Monday, February 24th. Wolfe Research reaffirmed a “peer perform” rating on shares of Spotify Technology in a research report on Friday, January 17th. Phillip Securities reaffirmed an “accumulate” rating and set a $485.00 target price (up from $420.00) on shares of Spotify Technology in a research report on Wednesday, November 13th. Finally, TD Cowen raised their target price on Spotify Technology from $356.00 to $416.00 and gave the company a “hold” rating in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $529.43.

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.