Trillium Asset Management LLC Raises Position in Spotify Technology S.A. (NYSE:SPOT)

Trillium Asset Management LLC lifted its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 35.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 53,490 shares of the company’s stock after purchasing an additional 14,144 shares during the period. Trillium Asset Management LLC’s holdings in Spotify Technology were worth $23,931,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Prestige Wealth Management Group LLC bought a new position in Spotify Technology in the 3rd quarter worth approximately $26,000. Hobbs Group Advisors LLC bought a new position in Spotify Technology in the 3rd quarter worth approximately $33,000. Larson Financial Group LLC boosted its holdings in Spotify Technology by 51.6% in the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock worth $36,000 after buying an additional 33 shares during the period. Quent Capital LLC boosted its holdings in Spotify Technology by 135.7% in the 4th quarter. Quent Capital LLC now owns 99 shares of the company’s stock worth $44,000 after buying an additional 57 shares during the period. Finally, Noble Wealth Management PBC bought a new position in Spotify Technology in the 4th quarter worth approximately $52,000. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SPOT. Macquarie raised their price objective on shares of Spotify Technology from $500.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Wolfe Research reissued a “peer perform” rating on shares of Spotify Technology in a report on Friday, January 17th. Guggenheim reissued a “buy” rating and issued a $675.00 price target on shares of Spotify Technology in a report on Monday, February 24th. Canaccord Genuity Group raised their price target on shares of Spotify Technology from $650.00 to $700.00 and gave the company a “buy” rating in a report on Wednesday, February 5th. Finally, Morgan Stanley raised their price target on shares of Spotify Technology from $550.00 to $670.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Eight analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, Spotify Technology has a consensus rating of “Moderate Buy” and a consensus target price of $540.68.

Spotify Technology Stock Down 4.7 %

Shares of NYSE:SPOT opened at $569.63 on Wednesday. The stock has a market cap of $116.61 billion, a PE ratio of 95.74 and a beta of 1.66. The company’s fifty day moving average is $560.06 and its 200 day moving average is $464.55. Spotify Technology S.A. has a 52 week low of $249.58 and a 52 week high of $652.63.

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.