Schaper Benz & Wise Investment Counsel Inc. WI Has $8.24 Million Holdings in Spotify Technology S.A. (NYSE:SPOT)

Schaper Benz & Wise Investment Counsel Inc. WI raised its stake in Spotify Technology S.A. (NYSE:SPOT) by 1.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,424 shares of the company’s stock after acquiring an additional 333 shares during the quarter. Schaper Benz & Wise Investment Counsel Inc. WI’s holdings in Spotify Technology were worth $8,243,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SPOT. Prestige Wealth Management Group LLC acquired a new stake in Spotify Technology in the 3rd quarter valued at about $26,000. Hobbs Group Advisors LLC acquired a new stake in Spotify Technology in the 3rd quarter valued at about $33,000. Larson Financial Group LLC increased its position in Spotify Technology by 51.6% in the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock valued at $36,000 after acquiring an additional 33 shares in the last quarter. Rakuten Securities Inc. grew its position in shares of Spotify Technology by 40.5% during the 3rd quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock worth $41,000 after buying an additional 32 shares during the period. Finally, Quent Capital LLC grew its position in shares of Spotify Technology by 135.7% during the 4th quarter. Quent Capital LLC now owns 99 shares of the company’s stock worth $44,000 after buying an additional 57 shares during the period. Institutional investors and hedge funds own 84.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SPOT. Phillip Securities reiterated an “accumulate” rating and set a $485.00 price target (up previously from $420.00) on shares of Spotify Technology in a research report on Wednesday, November 13th. Wolfe Research reiterated a “peer perform” rating on shares of Spotify Technology in a research report on Friday, January 17th. Morgan Stanley lifted their price target on shares of Spotify Technology from $550.00 to $670.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Canaccord Genuity Group lifted their price target on shares of Spotify Technology from $650.00 to $700.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. Finally, Piper Sandler lifted their price target on shares of Spotify Technology from $330.00 to $450.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $529.43.

Spotify Technology Trading Down 2.3 %

Shares of SPOT opened at $531.15 on Friday. The company has a market cap of $108.73 billion, a price-to-earnings ratio of 89.27 and a beta of 1.66. Spotify Technology S.A. has a 1-year low of $249.58 and a 1-year high of $652.63. The company’s fifty day simple moving average is $547.82 and its 200 day simple moving average is $453.67.

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.