Commonwealth Equity Services LLC Has $6.50 Million Position in Spotify Technology S.A. (NYSE:SPOT)

Commonwealth Equity Services LLC boosted its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 14.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,522 shares of the company’s stock after buying an additional 1,797 shares during the period. Commonwealth Equity Services LLC’s holdings in Spotify Technology were worth $6,497,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SPOT. Jennison Associates LLC bought a new position in shares of Spotify Technology during the fourth quarter valued at $1,335,575,000. Forsta AP Fonden bought a new position in shares of Spotify Technology during the fourth quarter valued at $619,600,000. Amundi lifted its holdings in shares of Spotify Technology by 194.2% during the fourth quarter. Amundi now owns 750,030 shares of the company’s stock valued at $359,812,000 after acquiring an additional 495,087 shares during the period. Swiss National Bank bought a new position in shares of Spotify Technology during the fourth quarter valued at $189,197,000. Finally, FMR LLC lifted its holdings in shares of Spotify Technology by 23.4% during the third 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 during the period. Institutional investors and hedge funds own 84.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. KeyCorp lifted their price target on Spotify Technology from $555.00 to $600.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Benchmark lifted their price target on Spotify Technology from $600.00 to $720.00 and gave the company a “buy” rating in a report on Wednesday, February 5th. UBS Group lifted 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. Redburn Atlantic assumed coverage on Spotify Technology in a report on Tuesday, March 11th. They issued a “neutral” rating and a $545.00 price target for the company. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $480.00 price target (down from $490.00) on shares of Spotify Technology in a report on Tuesday, January 28th. Eight equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $540.68.

Spotify Technology Stock Performance

Shares of SPOT opened at $599.64 on Friday. The stock has a 50 day simple moving average of $567.23 and a 200 day simple moving average of $468.06. Spotify Technology S.A. has a 52-week low of $257.56 and a 52-week high of $652.63. The firm has a market capitalization of $122.75 billion, a PE ratio of 100.78 and a beta of 1.66.

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.