Zevenbergen Capital Investments LLC Purchases 6,140 Shares of Spotify Technology S.A. (NYSE:SPOT)

Zevenbergen Capital Investments LLC raised its position in Spotify Technology S.A. (NYSE:SPOT) by 3.9% in the 4th quarter, Holdings Channel reports. The firm owned 165,331 shares of the company’s stock after buying an additional 6,140 shares during the period. Spotify Technology accounts for approximately 1.5% of Zevenbergen Capital Investments LLC’s investment portfolio, making the stock its 22nd biggest holding. Zevenbergen Capital Investments LLC’s holdings in Spotify Technology were worth $73,966,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Prestige Wealth Management Group LLC bought a new stake in shares of Spotify Technology during the third quarter worth $26,000. Hillsdale Investment Management Inc. bought a new stake in shares of Spotify Technology during the fourth quarter worth $27,000. Hobbs Group Advisors LLC bought a new stake in shares of Spotify Technology during the third quarter worth $33,000. Larson Financial Group LLC increased its position in shares of Spotify Technology by 51.6% during the third quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock worth $36,000 after acquiring an additional 33 shares in the last quarter. Finally, Quent Capital LLC increased its position in shares of Spotify Technology by 135.7% during the fourth quarter. Quent Capital LLC now owns 99 shares of the company’s stock worth $44,000 after acquiring an additional 57 shares in the last quarter. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Trading Up 0.9 %

SPOT opened at $599.64 on Monday. The company’s fifty day moving average price is $567.23 and its two-hundred day moving average price is $470.02. Spotify Technology S.A. has a 1-year low of $257.56 and a 1-year high of $652.63. The company has a market cap of $122.75 billion, a price-to-earnings ratio of 100.78 and a beta of 1.66.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SPOT. UBS Group increased their price objective on shares of Spotify Technology from $485.00 to $540.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Citigroup lifted their price target on shares of Spotify Technology from $540.00 to $720.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. KeyCorp lifted their price target on shares of Spotify Technology from $555.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Redburn Atlantic assumed coverage on shares of Spotify Technology in a research note on Tuesday, March 11th. They issued a “neutral” rating and a $545.00 price target on the stock. Finally, Wells Fargo & Company lifted their price target on shares of Spotify Technology from $520.00 to $690.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Eight analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, Spotify Technology currently has an average 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.