Orion Portfolio Solutions LLC Has $3.06 Million Holdings in Spotify Technology S.A. (NYSE:SPOT)

Orion Portfolio Solutions LLC increased its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 105.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 6,831 shares of the company’s stock after buying an additional 3,499 shares during the period. Orion Portfolio Solutions LLC’s holdings in Spotify Technology were worth $3,056,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Prestige Wealth Management Group LLC bought a new position in Spotify Technology during the third quarter worth about $26,000. Hillsdale Investment Management Inc. acquired a new position in shares of Spotify Technology in the 4th quarter worth approximately $27,000. Hobbs Group Advisors LLC bought a new position in shares of Spotify Technology during the 3rd quarter worth approximately $33,000. Quent Capital LLC boosted its stake in 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 buying an additional 57 shares in the last quarter. Finally, Noble Wealth Management PBC bought a new stake in Spotify Technology in the fourth quarter valued at $52,000. 84.09% of the stock is owned by institutional investors.

Spotify Technology Trading Down 1.8 %

Shares of Spotify Technology stock opened at $551.10 on Tuesday. The stock’s fifty day simple moving average is $579.58 and its 200 day simple moving average is $480.67. The company has a market capitalization of $112.81 billion, a PE ratio of 92.62 and a beta of 1.66. Spotify Technology S.A. has a 12 month low of $260.80 and a 12 month high of $652.63.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Benchmark lifted 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. Macquarie boosted their price target on shares of Spotify Technology from $500.00 to $600.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. KeyCorp raised their price objective on shares of Spotify Technology from $555.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Rosenblatt Securities reissued a “neutral” rating and issued a $658.00 target price (up from $473.00) on shares of Spotify Technology in a report on Wednesday, February 5th. Finally, FBN Securities started coverage on Spotify Technology in a report on Friday. They set a “sector perform” rating and a $645.00 price target for the company. Nine analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat, Spotify Technology has a consensus rating of “Moderate Buy” and a consensus price target of $552.47.

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.