HighPoint Advisor Group LLC Has $540,000 Stock Holdings in Spotify Technology S.A. (NYSE:SPOT)

HighPoint Advisor Group LLC boosted its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 35.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,207 shares of the company’s stock after buying an additional 315 shares during the period. HighPoint Advisor Group LLC’s holdings in Spotify Technology were worth $540,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of SPOT. Prestige Wealth Management Group LLC acquired a new stake in shares of Spotify Technology during the third quarter worth $26,000. Hillsdale Investment Management Inc. bought a new position in Spotify Technology during the 4th quarter worth about $27,000. Hobbs Group Advisors LLC bought a new position in Spotify Technology during the 3rd quarter worth about $33,000. Quent Capital LLC raised its stake in shares of Spotify Technology by 135.7% in the 4th quarter. Quent Capital LLC now owns 99 shares of the company’s stock valued at $44,000 after purchasing an additional 57 shares during the period. Finally, Noble Wealth Management PBC acquired a new position in shares of Spotify Technology during the fourth quarter worth about $52,000. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Up 2.4 %

Shares of NYSE:SPOT opened at $565.17 on Thursday. Spotify Technology S.A. has a 12-month low of $267.76 and a 12-month high of $652.63. The company’s 50 day moving average price is $582.30 and its two-hundred day moving average price is $482.76. The firm has a market cap of $115.69 billion, a PE ratio of 94.99 and a beta of 1.66.

Analyst Upgrades and Downgrades

SPOT has been the topic of a number of recent research reports. Morgan Stanley lifted their target price on Spotify Technology from $550.00 to $670.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Citigroup boosted their price objective on shares of Spotify Technology from $540.00 to $720.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. China Renaissance started coverage on shares of Spotify Technology in a research report on Wednesday, March 26th. They issued a “buy” rating and a $740.00 target price for the company. Cantor Fitzgerald reissued a “neutral” rating and set a $480.00 price target (down from $490.00) on shares of Spotify Technology in a research report on Tuesday, January 28th. Finally, Benchmark raised their price objective on Spotify Technology from $600.00 to $720.00 and gave the company a “buy” rating in a report on Wednesday, February 5th. Nine analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat.com, Spotify Technology has a consensus rating of “Moderate Buy” and an average price target of $557.47.

Spotify Technology Company 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.