Meitav Investment House Ltd. Purchases 514 Shares of Spotify Technology S.A. (NYSE:SPOT)

Meitav Investment House Ltd. lifted its stake in Spotify Technology S.A. (NYSE:SPOT) by 84.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,126 shares of the company’s stock after purchasing an additional 514 shares during the period. Meitav Investment House Ltd.’s holdings in Spotify Technology were worth $504,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in SPOT. Creative Planning raised its holdings in shares of Spotify Technology by 1.9% during the third quarter. Creative Planning now owns 6,351 shares of the company’s stock valued at $2,341,000 after purchasing an additional 118 shares during the last quarter. Raymond James & Associates raised its holdings in shares of Spotify Technology by 25.9% during the third quarter. Raymond James & Associates now owns 37,807 shares of the company’s stock valued at $13,933,000 after purchasing an additional 7,777 shares during the last quarter. Whittier Trust Co. purchased a new position in shares of Spotify Technology during the third quarter valued at approximately $648,000. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Spotify Technology by 557.7% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 342 shares of the company’s stock valued at $126,000 after purchasing an additional 290 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its holdings in shares of Spotify Technology by 17.7% during the third quarter. Sequoia Financial Advisors LLC now owns 1,221 shares of the company’s stock valued at $450,000 after purchasing an additional 184 shares during the last quarter. 84.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on SPOT shares. The Goldman Sachs Group boosted their target price on shares of Spotify Technology from $550.00 to $695.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Wolfe Research restated a “peer perform” rating on shares of Spotify Technology in a research report on Friday, January 17th. Guggenheim boosted their target price on shares of Spotify Technology from $520.00 to $675.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. Phillip Securities restated an “accumulate” rating and set a $485.00 target price (up from $420.00) on shares of Spotify Technology in a research report on Wednesday, November 13th. Finally, TD Cowen boosted their target price on shares of Spotify Technology from $356.00 to $416.00 and gave the company a “hold” rating in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $529.43.

Spotify Technology Trading Down 1.0 %

Shares of SPOT opened at $636.52 on Friday. Spotify Technology S.A. has a twelve month low of $240.73 and a twelve month high of $652.63. The company has a market cap of $126.70 billion, a P/E ratio of 106.98 and a beta of 1.63. The company’s fifty day simple moving average is $521.07 and its 200-day simple moving average is $433.77.

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.