Banco BTG Pactual S.A. Increases Holdings in Spotify Technology S.A. (NYSE:SPOT)

Banco BTG Pactual S.A. boosted its position in Spotify Technology S.A. (NYSE:SPOT) by 68.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,622 shares of the company’s stock after purchasing an additional 1,466 shares during the period. Banco BTG Pactual S.A.’s holdings in Spotify Technology were worth $1,658,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SPOT. Prestige Wealth Management Group LLC purchased a new stake in Spotify Technology during the 3rd quarter worth about $26,000. Hillsdale Investment Management Inc. acquired a new position in shares of Spotify Technology in the fourth quarter valued at approximately $27,000. Hobbs Group Advisors LLC purchased a new position in shares of Spotify Technology during the third quarter valued at approximately $33,000. Larson Financial Group LLC boosted its position in Spotify Technology by 51.6% during the third quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock worth $36,000 after acquiring an additional 33 shares during the last quarter. Finally, Quent Capital LLC grew its stake in 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 acquiring an additional 57 shares during the period. 84.09% of the stock is owned by institutional investors and hedge funds.

Spotify Technology Trading Up 1.8 %

SPOT stock opened at $615.84 on Wednesday. The firm’s 50-day moving average is $573.25 and its two-hundred day moving average is $474.03. The company has a market capitalization of $126.07 billion, a price-to-earnings ratio of 103.50 and a beta of 1.66. Spotify Technology S.A. has a 52 week low of $257.56 and a 52 week high of $652.63.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Guggenheim reissued a “buy” rating and issued a $675.00 price target on shares of Spotify Technology in a research note on Monday, February 24th. Citigroup lifted their price objective on Spotify Technology from $540.00 to $720.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Macquarie increased their target price on Spotify Technology from $500.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. 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. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Spotify Technology in a research report on Friday, January 17th. Eight equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, Spotify Technology currently has an average rating of “Moderate Buy” and an average price target of $540.68.

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.