Cookson Peirce & Co. Inc. Acquires 27 Shares of Spotify Technology S.A. (NYSE:SPOT)

Cookson Peirce & Co. Inc. raised its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 1.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,467 shares of the company’s stock after purchasing an additional 27 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in Spotify Technology were worth $656,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. New York State Teachers Retirement System grew its holdings in shares of Spotify Technology by 47.4% during the 3rd quarter. New York State Teachers Retirement System now owns 2,705 shares of the company’s stock worth $997,000 after acquiring an additional 870 shares during the period. Janney Montgomery Scott LLC lifted its position in Spotify Technology by 13.7% during the third quarter. Janney Montgomery Scott LLC now owns 35,455 shares of the company’s stock valued at $13,066,000 after buying an additional 4,261 shares during the period. Impax Asset Management Group plc boosted its holdings in shares of Spotify Technology by 36.5% during the 3rd quarter. Impax Asset Management Group plc now owns 3,381 shares of the company’s stock valued at $1,246,000 after buying an additional 904 shares in the last quarter. Amalgamated Bank grew its position in shares of Spotify Technology by 4.2% in the 3rd quarter. Amalgamated Bank now owns 10,227 shares of the company’s stock worth $3,769,000 after buying an additional 415 shares during the period. Finally, Concurrent Investment Advisors LLC increased its stake in shares of Spotify Technology by 4.8% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 1,538 shares of the company’s stock worth $567,000 after acquiring an additional 71 shares in the last quarter. 84.09% of the stock is owned by institutional investors.

Spotify Technology Stock Performance

Shares of NYSE:SPOT opened at $586.51 on Thursday. The stock’s 50-day simple moving average is $544.65 and its two-hundred day simple moving average is $451.00. The stock has a market capitalization of $120.06 billion, a price-to-earnings ratio of 98.57 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.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SPOT. Wolfe Research reissued a “peer perform” rating on shares of Spotify Technology in a research note on Friday, January 17th. Cantor Fitzgerald reissued a “neutral” rating and issued a $480.00 price target (down from $490.00) on shares of Spotify Technology in a research report on Tuesday, January 28th. UBS Group upped their price target on Spotify Technology from $485.00 to $540.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. The Goldman Sachs Group lifted their price objective on Spotify Technology from $550.00 to $695.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Finally, Canaccord Genuity Group increased their target price on Spotify Technology from $650.00 to $700.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. One research 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.