Benchmark Investment Advisors LLC Makes New $518,000 Investment in Spotify Technology S.A. (NYSE:SPOT)

Benchmark Investment Advisors LLC acquired a new stake in Spotify Technology S.A. (NYSE:SPOT) during the fourth quarter, HoldingsChannel reports. The firm acquired 1,159 shares of the company’s stock, valued at approximately $518,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Federated Hermes Inc. raised its holdings in Spotify Technology by 16.5% during the fourth quarter. Federated Hermes Inc. now owns 547,669 shares of the company’s stock worth $245,037,000 after purchasing an additional 77,651 shares in the last quarter. MIG Capital LLC acquired a new stake in Spotify Technology during the 4th quarter worth $331,000. Atika Capital Management LLC raised its stake in Spotify Technology by 2.2% during the 4th quarter. Atika Capital Management LLC now owns 41,600 shares of the company’s stock worth $18,611,000 after acquiring an additional 900 shares in the last quarter. Quadrant Capital Group LLC lifted its position in Spotify Technology by 106.2% in the fourth quarter. Quadrant Capital Group LLC now owns 563 shares of the company’s stock valued at $252,000 after acquiring an additional 290 shares during the last quarter. Finally, Hurley Capital LLC acquired a new position in Spotify Technology in the fourth quarter valued at $145,000. Institutional investors and hedge funds own 84.09% of the company’s stock.

Analyst Upgrades and Downgrades

SPOT has been the topic of a number of research analyst reports. Wells Fargo & Company lifted their target price on Spotify Technology from $690.00 to $740.00 and gave the stock an “overweight” rating in a research report on Friday, March 28th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $658.00 price target (up previously from $473.00) on shares of Spotify Technology in a research report on Wednesday, February 5th. Redburn Atlantic initiated coverage on Spotify Technology in a report on Tuesday, March 11th. They issued a “neutral” rating and a $545.00 price objective for the company. KeyCorp lifted their target price on shares of Spotify Technology from $555.00 to $600.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Canaccord Genuity Group increased their price target on shares of Spotify Technology from $650.00 to $700.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. Nine research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $557.47.

Spotify Technology Trading Down 9.9 %

SPOT stock opened at $502.90 on Friday. The company’s 50-day moving average price is $583.28 and its 200 day moving average price is $485.42. Spotify Technology S.A. has a 52 week low of $267.76 and a 52 week high of $652.63. The company has a market cap of $102.95 billion, a P/E ratio of 84.52 and a beta of 1.75.

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.