Spotify Technology S.A. (NYSE:SPOT) Shares Acquired by Lindbrook Capital LLC

Lindbrook Capital LLC increased its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 3.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,282 shares of the company’s stock after purchasing an additional 40 shares during the quarter. Lindbrook Capital LLC’s holdings in Spotify Technology were worth $574,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Prestige Wealth Management Group LLC acquired a new stake in shares of Spotify Technology in the 3rd quarter worth $26,000. Hobbs Group Advisors LLC acquired a new position in Spotify Technology during the 3rd quarter worth approximately $33,000. Larson Financial Group LLC raised its stake in shares of Spotify Technology by 51.6% during the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock worth $36,000 after buying an additional 33 shares in the last quarter. Rakuten Securities Inc. boosted its stake in shares of Spotify Technology by 40.5% in the third quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock valued at $41,000 after buying an additional 32 shares in the last quarter. Finally, Quent Capital LLC lifted its holdings in Spotify Technology by 135.7% in the fourth quarter. Quent Capital LLC now owns 99 shares of the company’s stock valued at $44,000 after acquiring an additional 57 shares during the period. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SPOT. Bank of America increased their price target on Spotify Technology from $430.00 to $515.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Citigroup increased their target price on Spotify Technology from $540.00 to $720.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. 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. The Goldman Sachs Group increased 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. Finally, Guggenheim restated a “buy” rating and issued a $675.00 target price on shares of Spotify Technology in a report on Monday, February 24th. One equities 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 stock. Based on data from MarketBeat.com, Spotify Technology presently has an average rating of “Moderate Buy” and a consensus target price of $529.43.

Spotify Technology Trading Down 7.7 %

Spotify Technology stock opened at $541.87 on Friday. Spotify Technology S.A. has a 52 week low of $249.58 and a 52 week high of $652.63. The stock has a market cap of $110.92 billion, a P/E ratio of 91.07 and a beta of 1.66. The stock has a 50 day moving average of $546.33 and a 200-day moving average of $451.63.

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.