Schaper Benz & Wise Investment Counsel Inc. WI Has $8.24 Million Position in Spotify Technology S.A. (NYSE:SPOT)

Schaper Benz & Wise Investment Counsel Inc. WI raised its stake in Spotify Technology S.A. (NYSE:SPOT) by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,424 shares of the company’s stock after purchasing an additional 333 shares during the period. Schaper Benz & Wise Investment Counsel Inc. WI’s holdings in Spotify Technology were worth $8,243,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. WCM Investment Management LLC increased its holdings in shares of Spotify Technology by 18.5% in the third quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock valued at $1,430,142,000 after purchasing an additional 605,755 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Spotify Technology by 3.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,492,170 shares of the company’s stock worth $1,286,969,000 after acquiring an additional 102,786 shares during the period. Jennison Associates LLC bought a new position in Spotify Technology during the fourth quarter worth about $1,335,575,000. State Street Corp increased its position in Spotify Technology by 1.5% during the third quarter. State Street Corp now owns 1,997,323 shares of the company’s stock worth $736,073,000 after acquiring an additional 28,864 shares during the period. Finally, FMR LLC increased its position in Spotify Technology by 23.4% during the third quarter. FMR LLC now owns 1,567,818 shares of the company’s stock worth $577,788,000 after acquiring an additional 297,035 shares during the period. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SPOT has been the topic of a number of recent research reports. Bank of America raised their price target on shares of Spotify Technology from $430.00 to $515.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Wells Fargo & Company raised their price target on shares of Spotify Technology from $520.00 to $690.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Morgan Stanley raised their price target on shares of Spotify Technology from $550.00 to $670.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. UBS Group increased their price objective on shares of Spotify Technology from $485.00 to $540.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Finally, Canaccord Genuity Group increased their price objective on shares of Spotify Technology from $650.00 to $700.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $529.43.

Spotify Technology Stock Performance

Shares of Spotify Technology stock opened at $531.15 on Friday. Spotify Technology S.A. has a 52-week low of $249.58 and a 52-week high of $652.63. The stock’s 50-day simple moving average is $547.82 and its 200 day simple moving average is $453.67. The stock has a market capitalization of $108.73 billion, a P/E ratio of 89.27 and a beta of 1.66.

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.