Susquehanna Fundamental Investments LLC Purchases Shares of 49,754 Spotify Technology S.A. (NYSE:SPOT)

Susquehanna Fundamental Investments LLC acquired a new position in Spotify Technology S.A. (NYSE:SPOT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 49,754 shares of the company's stock, valued at approximately $22,259,000.

Several other institutional investors and hedge funds have also made changes to their positions in SPOT. Hillsdale Investment Management Inc. purchased a new position in shares of Spotify Technology in the fourth quarter valued at $27,000. Quent Capital LLC boosted its stake in shares of Spotify Technology by 135.7% in the fourth quarter. Quent Capital LLC now owns 99 shares of the company's stock valued at $44,000 after purchasing an additional 57 shares during the period. Noble Wealth Management PBC purchased a new position in shares of Spotify Technology in the fourth quarter valued at $52,000. Strategic Financial Concepts LLC purchased a new position in shares of Spotify Technology in the fourth quarter valued at $56,000. Finally, Larson Financial Group LLC boosted its stake in shares of Spotify Technology by 48.5% in the fourth quarter. Larson Financial Group LLC now owns 144 shares of the company's stock valued at $64,000 after purchasing an additional 47 shares during the period. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Morgan Stanley increased their price objective on shares of Spotify Technology from $550.00 to $670.00 and gave the company an "overweight" rating in a research note on Wednesday, February 5th. Wolfe Research upgraded shares of Spotify Technology from a "peer perform" rating to an "outperform" rating and set a $660.00 price objective on the stock in a research note on Monday, April 21st. JPMorgan Chase & Co. reduced their price objective on shares of Spotify Technology from $730.00 to $640.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. The Goldman Sachs Group increased their price objective on shares of Spotify Technology from $550.00 to $695.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Finally, FBN Securities assumed coverage on shares of Spotify Technology in a research note on Friday, March 28th. They set a "sector perform" rating and a $645.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $596.26.

Spotify Technology Stock Down 3.5 %

Spotify Technology stock traded down $20.87 during trading hours on Tuesday, hitting $576.86. 10,264,806 shares of the company traded hands, compared to its average volume of 2,134,661. The firm has a market cap of $118.09 billion, a P/E ratio of 96.95 and a beta of 1.75. The firm's 50-day simple moving average is $570.33 and its two-hundred day simple moving average is $509.96. Spotify Technology S.A. has a 1-year low of $280.37 and a 1-year high of $652.63.

Spotify Technology Company 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.