EverSource Wealth Advisors LLC Purchases 95 Shares of Spotify Technology S.A. (NYSE:SPOT)

EverSource Wealth Advisors LLC boosted its position in Spotify Technology S.A. (NYSE:SPOT) by 14.5% during the 4th quarter, Holdings Channel reports. The fund owned 751 shares of the company’s stock after buying an additional 95 shares during the period. EverSource Wealth Advisors LLC’s holdings in Spotify Technology were worth $336,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Prestige Wealth Management Group LLC bought a new position in shares of Spotify Technology in the 3rd quarter worth $26,000. Hobbs Group Advisors LLC bought a new position in shares of Spotify Technology in the third quarter valued at $33,000. Larson Financial Group LLC grew its holdings 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 valued at $36,000 after buying an additional 33 shares during the last quarter. 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. Finally, Noble Wealth Management PBC acquired a new stake in shares of Spotify Technology in the 4th quarter worth about $52,000. Institutional investors and hedge funds own 84.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Cantor Fitzgerald reiterated a “neutral” rating and set a $480.00 price target (down previously from $490.00) on shares of Spotify Technology in a research note on Tuesday, January 28th. Canaccord Genuity Group upped their price target on Spotify Technology from $650.00 to $700.00 and gave the stock a “buy” rating in a report on Wednesday, February 5th. Morgan Stanley raised their price objective on Spotify Technology from $550.00 to $670.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. JPMorgan Chase & Co. upped their target price 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. Finally, Guggenheim reissued a “buy” rating and set a $675.00 price target on shares of Spotify Technology in a research report on Monday, February 24th. Eight equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $540.68.

Spotify Technology Stock Up 7.1 %

Shares of NYSE:SPOT opened at $576.02 on Friday. The firm has a market capitalization of $117.92 billion, a PE ratio of 96.81 and a beta of 1.66. The company has a 50-day moving average price of $555.35 and a two-hundred day moving average price of $460.27. Spotify Technology S.A. has a twelve month low of $249.58 and a twelve month high of $652.63.

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.