Spotify Technology S.A. (NYSE:SPOT) Shares Bought by Harbour Investments Inc.

Harbour Investments Inc. lifted its holdings in Spotify Technology S.A. (NYSE:SPOT) by 13.3% in the 4th quarter, HoldingsChannel reports. The firm owned 222 shares of the company’s stock after purchasing an additional 26 shares during the quarter. Harbour Investments Inc.’s holdings in Spotify Technology were worth $99,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. PNC Financial Services Group Inc. increased its stake in Spotify Technology by 12.4% during 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. Avior Wealth Management LLC increased its stake in shares of Spotify Technology by 12.0% during the third quarter. Avior Wealth Management LLC now owns 281 shares of the company’s stock valued at $104,000 after acquiring an additional 30 shares during the period. First Horizon Advisors Inc. raised its holdings in Spotify Technology by 5.8% during the third quarter. First Horizon Advisors Inc. now owns 478 shares of the company’s stock worth $176,000 after purchasing an additional 26 shares in the last quarter. Intech Investment Management LLC lifted its position in Spotify Technology by 57.0% in the third quarter. Intech Investment Management LLC now owns 1,699 shares of the company’s stock worth $626,000 after purchasing an additional 617 shares during the period. Finally, Great Valley Advisor Group Inc. boosted its stake in Spotify Technology by 4.3% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 2,125 shares of the company’s stock valued at $783,000 after purchasing an additional 87 shares in the last quarter. 84.09% of the stock is owned by institutional investors and hedge funds.

Spotify Technology Stock Performance

Spotify Technology stock opened at $599.64 on Monday. The firm’s 50 day moving average price is $567.23 and its two-hundred day moving average price is $470.02. The firm 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 twelve month low of $257.56 and a twelve month high of $652.63.

Analysts Set New Price Targets

A number of research firms have recently commented on SPOT. Barclays boosted their price objective on Spotify Technology from $475.00 to $710.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Macquarie upped their price target on shares of Spotify Technology from $500.00 to $600.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Wells Fargo & Company lifted their price objective on shares of Spotify Technology from $520.00 to $690.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. UBS Group boosted their target price on shares of Spotify Technology from $485.00 to $540.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Finally, KeyCorp raised their target price on shares of Spotify Technology from $555.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $540.68.

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.