Xponance Inc. Buys 1,711 Shares of Spotify Technology S.A. (NYSE:SPOT)

Xponance Inc. boosted its stake in Spotify Technology S.A. (NYSE:SPOT) by 8.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,097 shares of the company’s stock after acquiring an additional 1,711 shares during the period. Xponance Inc.’s holdings in Spotify Technology were worth $9,438,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Prestige Wealth Management Group LLC bought a new stake in Spotify Technology in the third quarter valued at $26,000. Hobbs Group Advisors LLC bought a new stake in shares of Spotify Technology during the 3rd quarter valued at $33,000. Larson Financial Group LLC boosted its holdings in shares of Spotify Technology by 51.6% during the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock valued at $36,000 after buying an additional 33 shares in the last quarter. Quent Capital LLC grew its position in shares of Spotify Technology by 135.7% in the 4th quarter. Quent Capital LLC now owns 99 shares of the company’s stock worth $44,000 after buying an additional 57 shares during the period. Finally, Noble Wealth Management PBC bought a new position in shares of Spotify Technology in the 4th quarter worth about $52,000. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Trading Down 4.7 %

Shares of SPOT stock opened at $569.63 on Wednesday. Spotify Technology S.A. has a 12-month low of $249.58 and a 12-month high of $652.63. The firm’s 50 day moving average is $560.06 and its 200 day moving average is $464.55. The stock has a market capitalization of $116.61 billion, a P/E ratio of 95.74 and a beta of 1.66.

Wall Street Analyst Weigh In

SPOT has been the topic of several research reports. Wells Fargo & Company boosted their price objective on shares of Spotify Technology from $520.00 to $690.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Canaccord Genuity Group boosted their price target on Spotify Technology from $650.00 to $700.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. Citigroup raised their price objective on Spotify Technology from $540.00 to $720.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. KeyCorp boosted their target price on Spotify Technology from $555.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, The Goldman Sachs Group raised their price target on Spotify Technology from $550.00 to $695.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Eight analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $540.68.

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.