Spotify Technology S.A. (NYSE:SPOT) Shares Purchased by Annis Gardner Whiting Capital Advisors LLC

Annis Gardner Whiting Capital Advisors LLC grew its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 158.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,255 shares of the company’s stock after buying an additional 770 shares during the quarter. Annis Gardner Whiting Capital Advisors LLC’s holdings in Spotify Technology were worth $561,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Thrivent Financial for Lutherans grew its holdings in Spotify Technology by 566.1% during the fourth quarter. Thrivent Financial for Lutherans now owns 7,980 shares of the company’s stock worth $3,541,000 after acquiring an additional 6,782 shares during the period. Jennison Associates LLC acquired a new position in shares of Spotify Technology in the 4th quarter worth approximately $1,335,575,000. Marks Group Wealth Management Inc bought a new stake in shares of Spotify Technology in the 4th quarter worth approximately $535,000. Patriot Financial Group Insurance Agency LLC acquired a new stake in Spotify Technology during the fourth quarter valued at approximately $214,000. Finally, Swedbank AB boosted its holdings in Spotify Technology by 20.9% during the fourth quarter. Swedbank AB now owns 946,129 shares of the company’s stock worth $423,279,000 after buying an additional 163,626 shares in the last quarter. 84.09% of the stock is owned by institutional investors and hedge funds.

Spotify Technology Stock Performance

SPOT opened at $558.48 on Friday. The firm has a market cap of $114.32 billion, a P/E ratio of 93.86 and a beta of 1.75. The business has a 50 day moving average price of $583.45 and a 200 day moving average price of $483.28. Spotify Technology S.A. has a twelve month low of $267.76 and a twelve month high of $652.63.

Wall Street Analyst Weigh In

Several research firms have issued reports on SPOT. The Goldman Sachs Group upped their price target on Spotify Technology from $550.00 to $695.00 and gave the company a “buy” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. increased their price target on Spotify Technology from $555.00 to $730.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Citigroup boosted their price objective on Spotify Technology from $540.00 to $720.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Wolfe Research reiterated a “peer perform” rating on shares of Spotify Technology in a report on Friday, January 17th. Finally, Benchmark lifted their target price on shares of Spotify Technology from $600.00 to $720.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. Nine investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat.com, Spotify Technology has a consensus rating of “Moderate Buy” and an average target price of $557.47.

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.