Donaldson Capital Management LLC Takes Position in Spotify Technology S.A. (NYSE:SPOT)

Donaldson Capital Management LLC bought a new position in shares of Spotify Technology S.A. (NYSE:SPOT) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 6,032 shares of the company’s stock, valued at approximately $2,699,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SPX Gestao de Recursos Ltda bought a new stake in Spotify Technology during the 4th quarter worth approximately $4,474,000. Morling Financial Advisors LLC purchased a new position in shares of Spotify Technology during the fourth quarter valued at approximately $231,000. Citizens Financial Group Inc. RI purchased a new position in shares of Spotify Technology during the fourth quarter valued at approximately $206,000. Independent Advisor Alliance grew its holdings in Spotify Technology by 136.1% during the fourth quarter. Independent Advisor Alliance now owns 9,887 shares of the company’s stock worth $4,423,000 after buying an additional 5,700 shares in the last quarter. Finally, Daiwa Securities Group Inc. purchased a new stake in Spotify Technology in the 4th quarter valued at $9,979,000. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Price Performance

Shares of SPOT stock opened at $488.00 on Tuesday. The company’s fifty day simple moving average is $548.54 and its two-hundred day simple moving average is $455.47. Spotify Technology S.A. has a 1 year low of $249.58 and a 1 year high of $652.63. The stock has a market capitalization of $99.90 billion, a price-to-earnings ratio of 82.02 and a beta of 1.66.

Analysts Set New Price Targets

SPOT has been the topic of a number of analyst reports. Wolfe Research reaffirmed a “peer perform” rating on shares of Spotify Technology in a report on Friday, January 17th. Bank of America upped their price objective on shares of Spotify Technology from $430.00 to $515.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Macquarie increased their price objective on shares of Spotify Technology from $500.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Canaccord Genuity Group boosted 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. Finally, Wells Fargo & Company increased their price target on Spotify Technology from $520.00 to $690.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $529.43.

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.