867 Shares in Spotify Technology S.A. (NYSE:SPOT) Acquired by Atala Financial Inc

Atala Financial Inc bought a new position in Spotify Technology S.A. (NYSE:SPOT) in the 4th quarter, HoldingsChannel.com reports. The fund bought 867 shares of the company’s stock, valued at approximately $388,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Principal Financial Group Inc. grew its holdings in shares of Spotify Technology by 11.8% during the 3rd quarter. Principal Financial Group Inc. now owns 39,578 shares of the company’s stock valued at $14,586,000 after purchasing an additional 4,192 shares during the last quarter. Atria Investments Inc grew its stake in shares of Spotify Technology by 7.3% during the third quarter. Atria Investments Inc now owns 8,315 shares of the company’s stock valued at $3,064,000 after buying an additional 568 shares during the last quarter. Covestor Ltd increased its holdings in shares of Spotify Technology by 160.5% in the third quarter. Covestor Ltd now owns 198 shares of the company’s stock worth $73,000 after buying an additional 122 shares during the period. Prime Capital Investment Advisors LLC purchased a new stake in Spotify Technology during the 3rd quarter valued at about $244,000. Finally, Zions Bancorporation N.A. grew its position in Spotify Technology by 5.8% during the 3rd quarter. Zions Bancorporation N.A. now owns 1,170 shares of the company’s stock worth $431,000 after acquiring an additional 64 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Cantor Fitzgerald reissued a “neutral” rating and set a $480.00 price objective (down previously from $490.00) on shares of Spotify Technology in a research note on Tuesday, January 28th. UBS Group increased their price target on shares of Spotify Technology from $485.00 to $540.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Wells Fargo & Company boosted their price objective on shares of Spotify Technology from $520.00 to $690.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Canaccord Genuity Group increased their target price on shares of Spotify Technology from $650.00 to $700.00 and gave the stock a “buy” rating in a report on Wednesday, February 5th. Finally, Redburn Atlantic assumed coverage on Spotify Technology in a report on Tuesday. They set a “neutral” rating and a $545.00 price target on the stock. Eight research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, Spotify Technology has a consensus rating of “Moderate Buy” and a consensus price target of $540.68.

Spotify Technology Stock Up 0.6 %

SPOT stock opened at $539.11 on Friday. Spotify Technology S.A. has a twelve month low of $249.58 and a twelve month high of $652.63. The firm has a market cap of $110.36 billion, a PE ratio of 90.61 and a beta of 1.66. The business has a 50 day moving average of $553.16 and a 200 day moving average of $457.77.

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.