Noble Wealth Management PBC Buys Shares of 116 Spotify Technology S.A. (NYSE:SPOT)

Noble Wealth Management PBC bought a new stake in shares of Spotify Technology S.A. (NYSE:SPOT) during the fourth quarter, HoldingsChannel reports. The fund bought 116 shares of the company’s stock, valued at approximately $52,000.

A number of other large investors have also recently bought and sold shares of SPOT. First Horizon Advisors Inc. boosted its holdings in shares of Spotify Technology by 5.8% during the third quarter. First Horizon Advisors Inc. now owns 478 shares of the company’s stock worth $176,000 after purchasing an additional 26 shares during the last quarter. Joel Isaacson & Co. LLC boosted its holdings in shares of Spotify Technology by 1.9% during the fourth quarter. Joel Isaacson & Co. LLC now owns 1,559 shares of the company’s stock worth $697,000 after purchasing an additional 29 shares during the last quarter. Avior Wealth Management LLC boosted its holdings in shares of Spotify Technology by 12.0% during the third quarter. Avior Wealth Management LLC now owns 281 shares of the company’s stock worth $104,000 after purchasing an additional 30 shares during the last quarter. Park National Corp OH boosted its holdings in shares of Spotify Technology by 4.1% during the fourth quarter. Park National Corp OH now owns 793 shares of the company’s stock worth $355,000 after purchasing an additional 31 shares during the last quarter. Finally, Washington Trust Advisors Inc. boosted its holdings in shares of Spotify Technology by 12.0% during the third quarter. Washington Trust Advisors Inc. now owns 299 shares of the company’s stock worth $110,000 after purchasing an additional 32 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Stock Performance

NYSE:SPOT opened at $608.16 on Friday. The company has a market capitalization of $121.06 billion, a price-to-earnings ratio of 102.21 and a beta of 1.63. Spotify Technology S.A. has a one year low of $249.58 and a one year high of $652.63. The stock has a 50-day simple moving average of $536.90 and a 200 day simple moving average of $445.69.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SPOT shares. Citigroup raised their price objective on Spotify Technology from $540.00 to $720.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $658.00 target price (up from $473.00) on shares of Spotify Technology in a research report on Wednesday, February 5th. Benchmark increased their target price on Spotify Technology from $600.00 to $720.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. Macquarie increased their target price on Spotify Technology from $500.00 to $600.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, Morgan Stanley increased their target price on Spotify Technology from $550.00 to $670.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, Spotify Technology has a consensus rating of “Moderate Buy” and a consensus target price 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.