Fairway Wealth LLC Makes New $89,000 Investment in Spotify Technology S.A. (NYSE:SPOT)

Fairway Wealth LLC bought a new position in shares of Spotify Technology S.A. (NYSE:SPOT) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 200 shares of the company’s stock, valued at approximately $89,000.

Other institutional investors have also added to or reduced their stakes in the company. Prestige Wealth Management Group LLC acquired a new position in shares of Spotify Technology during the 3rd quarter worth $26,000. Hobbs Group Advisors LLC acquired a new stake in shares of Spotify Technology in the third quarter valued at about $33,000. Larson Financial Group LLC increased its stake in shares of Spotify Technology by 51.6% in the third quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock valued at $36,000 after buying an additional 33 shares during the period. Rakuten Securities Inc. boosted its position in shares of Spotify Technology by 40.5% during the 3rd quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock valued at $41,000 after purchasing an additional 32 shares in the last quarter. Finally, Quent Capital LLC boosted its position in shares of Spotify Technology by 135.7% during the 4th quarter. Quent Capital LLC now owns 99 shares of the company’s stock valued at $44,000 after purchasing an additional 57 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Price Performance

NYSE:SPOT opened at $488.00 on Tuesday. The firm has a market capitalization of $99.90 billion, a price-to-earnings ratio of 82.02 and a beta of 1.66. Spotify Technology S.A. has a one year low of $249.58 and a one year high of $652.63. The business has a fifty day moving average price of $548.54 and a 200-day moving average price of $455.47.

Analysts Set New Price Targets

Several brokerages have issued reports on SPOT. Morgan Stanley increased 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. JPMorgan Chase & Co. raised their price target on Spotify Technology from $555.00 to $730.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Macquarie lifted their price objective on Spotify Technology from $500.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Wells Fargo & Company lifted their price target on Spotify Technology from $520.00 to $690.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Finally, Piper Sandler lifted their price objective on Spotify Technology from $330.00 to $450.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have issued 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.

Spotify Technology 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.