Cullen Frost Bankers Inc. Buys 77 Shares of Spotify Technology S.A. (NYSE:SPOT)

Cullen Frost Bankers Inc. increased its holdings in Spotify Technology S.A. (NYSE:SPOT) by 0.2% during the 4th quarter, Holdings Channel reports. The firm owned 46,301 shares of the company’s stock after buying an additional 77 shares during the period. Cullen Frost Bankers Inc.’s holdings in Spotify Technology were worth $20,714,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Prestige Wealth Management Group LLC bought a new stake in shares of Spotify Technology in the third quarter worth about $26,000. Hobbs Group Advisors LLC bought a new stake in shares of Spotify Technology in the third quarter worth about $33,000. Larson Financial Group LLC grew its stake in shares of Spotify Technology by 51.6% in the third quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock worth $36,000 after purchasing an additional 33 shares during the last quarter. Quent Capital LLC grew its stake in shares of Spotify Technology by 135.7% in the fourth quarter. Quent Capital LLC now owns 99 shares of the company’s stock worth $44,000 after purchasing an additional 57 shares during the last quarter. Finally, Rakuten Securities Inc. grew its stake in shares of Spotify Technology by 40.5% in the third quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock worth $41,000 after purchasing an additional 32 shares during the last quarter. 84.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SPOT has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised their target price on Spotify Technology from $555.00 to $730.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. TD Cowen raised their price objective on shares of Spotify Technology from $356.00 to $416.00 and gave the stock a “hold” rating in a report on Wednesday, November 13th. Pivotal Research raised their price objective on shares of Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Guggenheim restated a “buy” rating and issued a $675.00 price objective on shares of Spotify Technology in a report on Monday, February 24th. Finally, The Goldman Sachs Group raised their price objective on shares of Spotify Technology from $550.00 to $695.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $529.43.

Spotify Technology Trading Up 0.4 %

SPOT stock opened at $586.51 on Thursday. The stock has a market capitalization of $120.06 billion, a PE ratio of 98.57 and a beta of 1.66. Spotify Technology S.A. has a 12-month low of $249.58 and a 12-month high of $652.63. The stock’s 50 day simple moving average is $544.65 and its 200 day simple moving average is $451.00.

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.