Banco Santander S.A. Invests $246,000 in Spotify Technology S.A. (NYSE:SPOT)

Banco Santander S.A. purchased a new stake in shares of Spotify Technology S.A. (NYSE:SPOT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 549 shares of the company’s stock, valued at approximately $246,000.

Other hedge funds have also made changes to their positions in the company. Prestige Wealth Management Group LLC acquired a new position in shares of Spotify Technology in the 3rd quarter valued at about $26,000. Hobbs Group Advisors LLC purchased a new position in Spotify Technology during the third quarter valued at approximately $33,000. Larson Financial Group LLC increased its stake in Spotify Technology by 51.6% in the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock valued at $36,000 after buying an additional 33 shares during the period. Rakuten Securities Inc. lifted its position in Spotify Technology by 40.5% in the 3rd quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock worth $41,000 after buying an additional 32 shares in the last quarter. Finally, Quent Capital LLC boosted its stake in shares of Spotify Technology by 135.7% during the 4th quarter. Quent Capital LLC now owns 99 shares of the company’s stock valued at $44,000 after buying an additional 57 shares during the period. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Trading Down 8.3 %

Shares of SPOT stock opened at $488.00 on Tuesday. The firm has a market capitalization of $99.90 billion, a P/E ratio of 82.02 and a beta of 1.66. Spotify Technology S.A. has a 1 year low of $249.58 and a 1 year high of $652.63. The firm’s fifty day simple moving average is $548.54 and its 200 day simple moving average is $455.47.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SPOT. Morgan Stanley increased their price objective on Spotify Technology from $550.00 to $670.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. KeyCorp raised their price target on Spotify Technology from $555.00 to $600.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Macquarie lifted their price target on Spotify Technology from $500.00 to $600.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Wells Fargo & Company increased their price objective on Spotify Technology from $520.00 to $690.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Finally, Pivotal Research lifted their target price on shares of Spotify Technology from $510.00 to $565.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $529.43.

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.