Amalgamated Bank Grows Holdings in Spotify Technology S.A. (NYSE:SPOT)

Amalgamated Bank increased its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 0.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,300 shares of the company’s stock after purchasing an additional 73 shares during the period. Amalgamated Bank’s holdings in Spotify Technology were worth $4,608,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. WCM Investment Management LLC lifted its holdings in shares of Spotify Technology by 18.5% in the third quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock worth $1,430,142,000 after buying an additional 605,755 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Spotify Technology by 3.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,492,170 shares of the company’s stock worth $1,286,969,000 after acquiring an additional 102,786 shares in the last quarter. Jennison Associates LLC bought a new position in shares of Spotify Technology during the 4th quarter valued at approximately $1,335,575,000. State Street Corp lifted its position in Spotify Technology by 1.5% during the third quarter. State Street Corp now owns 1,997,323 shares of the company’s stock valued at $736,073,000 after purchasing an additional 28,864 shares during the last quarter. Finally, FMR LLC grew its position in Spotify Technology by 23.4% in the third quarter. FMR LLC now owns 1,567,818 shares of the company’s stock worth $577,788,000 after acquiring an additional 297,035 shares in the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on SPOT. Bank of America lifted their target price on Spotify Technology from $430.00 to $515.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. lifted their price objective on shares of Spotify Technology from $555.00 to $730.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Wells Fargo & Company increased their target price 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. Piper Sandler lifted their price target on shares of Spotify Technology from $330.00 to $450.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Finally, 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. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $529.43.

Spotify Technology Stock Down 2.1 %

Spotify Technology stock opened at $590.28 on Friday. Spotify Technology S.A. has a twelve month low of $249.38 and a twelve month high of $652.63. The business has a fifty day moving average of $533.95 and a two-hundred day moving average of $443.05. The firm has a market cap of $117.50 billion, a P/E ratio of 99.21 and a beta of 1.63.

About Spotify Technology

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.