Independent Advisor Alliance Increases Position in Spotify Technology S.A. (NYSE:SPOT)

Independent Advisor Alliance increased its position in Spotify Technology S.A. (NYSE:SPOT) by 136.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,887 shares of the company’s stock after acquiring an additional 5,700 shares during the period. Independent Advisor Alliance’s holdings in Spotify Technology were worth $4,423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SPOT. Massachusetts Financial Services Co. MA raised its holdings in shares of Spotify Technology by 3.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,492,170 shares of the company’s stock worth $1,286,969,000 after purchasing an additional 102,786 shares during the last quarter. Jennison Associates LLC acquired a new stake in Spotify Technology during the 4th quarter worth about $1,335,575,000. State Street Corp raised its stake in shares of Spotify Technology by 1.5% during the 3rd quarter. State Street Corp now owns 1,997,323 shares of the company’s stock valued at $736,073,000 after buying an additional 28,864 shares during the last quarter. FMR LLC raised its position in Spotify Technology by 23.4% during the third quarter. FMR LLC now owns 1,567,818 shares of the company’s stock valued at $577,788,000 after acquiring an additional 297,035 shares in the last quarter. Finally, Forsta AP Fonden purchased a new stake in Spotify Technology in the 4th quarter worth approximately $619,600,000. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Trading Up 3.8 %

Shares of SPOT stock opened at $507.66 on Wednesday. Spotify Technology S.A. has a twelve month low of $249.58 and a twelve month high of $652.63. The company’s 50-day moving average price is $549.75 and its 200-day moving average price is $456.64. The stock has a market cap of $103.92 billion, a price-to-earnings ratio of 85.32 and a beta of 1.66.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Bank of America increased their price target on shares of Spotify Technology from $430.00 to $515.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Macquarie lifted their price target on Spotify Technology from $500.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Pivotal Research increased their price target on Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. boosted their price objective on Spotify Technology from $555.00 to $730.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Finally, Redburn Atlantic assumed coverage on Spotify Technology in a research report on Tuesday. They set a “neutral” rating and a $545.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $540.68.

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.