Spotify Technology S.A. (NYSE:SPOT) Shares Acquired by Trivest Advisors Ltd

Trivest Advisors Ltd lifted its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 1,593.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 169,300 shares of the company’s stock after acquiring an additional 159,300 shares during the quarter. Spotify Technology accounts for about 3.4% of Trivest Advisors Ltd’s portfolio, making the stock its 9th largest position. Trivest Advisors Ltd’s holdings in Spotify Technology were worth $75,741,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Auxano Advisors LLC lifted its stake in Spotify Technology by 2.5% in the fourth quarter. Auxano Advisors LLC now owns 828 shares of the company’s stock worth $370,000 after acquiring an additional 20 shares during the last quarter. SRS Capital Advisors Inc. lifted its position in shares of Spotify Technology by 4.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 573 shares of the company’s stock worth $256,000 after purchasing an additional 25 shares during the last quarter. First Horizon Advisors Inc. lifted its position in shares of Spotify Technology by 5.8% during the 3rd quarter. First Horizon Advisors Inc. now owns 478 shares of the company’s stock worth $176,000 after purchasing an additional 26 shares during the last quarter. Harbour Investments Inc. grew its stake in shares of Spotify Technology by 13.3% during the fourth quarter. Harbour Investments Inc. now owns 222 shares of the company’s stock worth $99,000 after purchasing an additional 26 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. increased its holdings in Spotify Technology by 1.9% in the fourth quarter. Cookson Peirce & Co. Inc. now owns 1,467 shares of the company’s stock valued at $656,000 after buying an additional 27 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SPOT shares. Macquarie upped their price objective on Spotify Technology from $500.00 to $600.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. UBS Group upped their price target on Spotify Technology from $485.00 to $540.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. The Goldman Sachs Group raised their price objective on shares of Spotify Technology from $550.00 to $695.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. KeyCorp boosted their price objective on shares of Spotify Technology from $555.00 to $600.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, Citigroup lifted their price target on shares of Spotify Technology from $540.00 to $720.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Eight investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, Spotify Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $540.68.

Spotify Technology Stock Down 4.7 %

Shares of Spotify Technology stock opened at $569.63 on Wednesday. The firm has a market cap of $116.61 billion, a price-to-earnings ratio of 95.74 and a beta of 1.66. Spotify Technology S.A. has a 52-week low of $249.58 and a 52-week high of $652.63. The company’s 50-day simple moving average is $560.06 and its 200-day simple moving average is $464.55.

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.