543 Shares in Spotify Technology S.A. (NYSE:SPOT) Bought by Interchange Capital Partners LLC

Interchange Capital Partners LLC acquired a new stake in Spotify Technology S.A. (NYSE:SPOT) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 543 shares of the company’s stock, valued at approximately $243,000.

Several other hedge funds have also recently added to or reduced their stakes in SPOT. Jennison Associates LLC acquired a new stake in shares of Spotify Technology in the 4th quarter valued at approximately $1,335,575,000. Marks Group Wealth Management Inc bought a new stake in Spotify Technology in the fourth quarter valued at approximately $535,000. Patriot Financial Group Insurance Agency LLC acquired a new stake in Spotify Technology in the fourth quarter worth $214,000. Kestra Investment Management LLC bought a new position in shares of Spotify Technology during the third quarter worth $780,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of 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 during the period. Institutional investors and hedge funds own 84.09% of the company’s stock.

Wall Street Analyst Weigh In

SPOT has been the topic of several research analyst reports. Guggenheim reaffirmed a “buy” rating and set a $675.00 price objective on shares of Spotify Technology in a research note on Monday, February 24th. Wells Fargo & Company lifted their price objective on Spotify Technology from $520.00 to $690.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. KeyCorp increased their target price on Spotify Technology from $555.00 to $600.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Macquarie lifted their price target on shares of Spotify Technology from $500.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Finally, Citigroup increased their price objective on shares of Spotify Technology from $540.00 to $720.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Eight equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $540.68.

Spotify Technology Price Performance

Shares of SPOT opened at $605.18 on Tuesday. The firm has a 50-day moving average of $570.20 and a 200-day moving average of $471.97. The company has a market cap of $123.88 billion, a PE ratio of 101.71 and a beta of 1.66. Spotify Technology S.A. has a one year low of $257.56 and a one year 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.