Spotify Technology S.A. (NYSE:SPOT) Shares Bought by Whittier Trust Co.

Whittier Trust Co. increased its position in Spotify Technology S.A. (NYSE:SPOT) by 79.2% during the fourth quarter, Holdings Channel reports. The fund owned 3,153 shares of the company’s stock after purchasing an additional 1,394 shares during the quarter. Whittier Trust Co.’s holdings in Spotify Technology were worth $1,411,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. OneDigital Investment Advisors LLC boosted its position in Spotify Technology by 38.9% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,074 shares of the company’s stock worth $396,000 after acquiring an additional 301 shares during the period. Pathstone Holdings LLC lifted its holdings in Spotify Technology by 16.9% in the third quarter. Pathstone Holdings LLC now owns 24,258 shares of the company’s stock worth $8,940,000 after purchasing an additional 3,515 shares during the period. PNC Financial Services Group Inc. grew its position in Spotify Technology by 12.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 11,763 shares of the company’s stock valued at $4,335,000 after buying an additional 1,299 shares in the last quarter. Avior Wealth Management LLC increased its stake in Spotify Technology by 12.0% during the 3rd quarter. Avior Wealth Management LLC now owns 281 shares of the company’s stock valued at $104,000 after buying an additional 30 shares during the period. Finally, Commerce Bank raised its position in shares of Spotify Technology by 405.3% during the 3rd quarter. Commerce Bank now owns 11,769 shares of the company’s stock worth $4,337,000 after buying an additional 9,440 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SPOT shares. The Goldman Sachs Group increased their price objective on shares of Spotify Technology from $550.00 to $695.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Cantor Fitzgerald reiterated a “neutral” rating and set a $480.00 price target (down from $490.00) on shares of Spotify Technology in a research report on Tuesday, January 28th. Morgan Stanley upped their price objective on Spotify Technology from $550.00 to $670.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Benchmark lifted their target price on Spotify Technology from $600.00 to $720.00 and gave the stock a “buy” rating in a report on Wednesday, February 5th. Finally, Barclays upped their price target on shares of Spotify Technology from $475.00 to $710.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Eight equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $540.68.

Spotify Technology Price Performance

NYSE:SPOT opened at $599.64 on Friday. The stock’s 50-day moving average is $567.23 and its two-hundred day moving average is $468.06. The stock has a market cap of $122.75 billion, a PE ratio of 100.78 and a beta of 1.66. Spotify Technology S.A. has a fifty-two week low of $257.56 and a fifty-two week high of $652.63.

Spotify Technology 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.