124,361 Shares in Spotify Technology S.A. (NYSE:SPOT) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new position in shares of Spotify Technology S.A. (NYSE:SPOT) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 124,361 shares of the company’s stock, valued at approximately $55,637,000. Raymond James Financial Inc. owned approximately 0.06% of Spotify Technology as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Aigen Investment Management LP increased its position in shares of Spotify Technology by 42.4% during the third quarter. Aigen Investment Management LP now owns 9,800 shares of the company’s stock worth $3,612,000 after purchasing an additional 2,918 shares in the last quarter. Jennison Associates LLC purchased a new stake in shares of Spotify Technology during the fourth quarter worth approximately $1,335,575,000. Marks Group Wealth Management Inc acquired a new position in Spotify Technology during the fourth quarter worth $535,000. Patriot Financial Group Insurance Agency LLC acquired a new position in Spotify Technology during the fourth quarter worth $214,000. Finally, Pathway Capital Management LP boosted its stake in Spotify Technology by 23.8% during the third quarter. Pathway Capital Management LP now owns 57,340 shares of the company’s stock worth $21,132,000 after buying an additional 11,042 shares during the last quarter. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Spotify Technology Price Performance

Shares of NYSE SPOT opened at $488.00 on Tuesday. The stock’s 50-day moving average is $548.54 and its two-hundred day 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 company has a market cap of $99.90 billion, a price-to-earnings ratio of 82.02 and a beta of 1.66.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SPOT shares. Guggenheim reissued a “buy” rating and set a $675.00 price objective on shares of Spotify Technology in a research note on Monday, February 24th. Morgan Stanley boosted their price objective on Spotify Technology from $550.00 to $670.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Rosenblatt Securities reissued a “neutral” rating and set a $658.00 price objective (up previously from $473.00) on shares of Spotify Technology in a research note on Wednesday, February 5th. Bank of America boosted their price objective on Spotify Technology from $430.00 to $515.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, UBS Group boosted their price objective on Spotify Technology from $485.00 to $540.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.