Arete Wealth Advisors LLC Makes New $277,000 Investment in Spotify Technology S.A. (NYSE:SPOT)

Arete Wealth Advisors LLC acquired a new position in Spotify Technology S.A. (NYSE:SPOT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 615 shares of the company's stock, valued at approximately $277,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SPOT. Prestige Wealth Management Group LLC acquired a new position in shares of Spotify Technology during the 3rd quarter worth about $26,000. Hillsdale Investment Management Inc. bought a new position in shares of Spotify Technology during the 4th quarter worth approximately $27,000. Hobbs Group Advisors LLC acquired a new stake in shares of Spotify Technology in the 3rd quarter valued at $33,000. Quent Capital LLC grew its stake in Spotify Technology by 135.7% during the fourth quarter. Quent Capital LLC now owns 99 shares of the company's stock worth $44,000 after buying an additional 57 shares during the last quarter. Finally, Noble Wealth Management PBC acquired a new stake in Spotify Technology during the 4th quarter valued at $52,000. Institutional investors own 84.09% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Wolfe Research reiterated a "peer perform" rating on shares of Spotify Technology in a research report on Friday, January 17th. The Goldman Sachs Group increased their price target 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. FBN Securities initiated coverage on shares of Spotify Technology in a report on Friday, March 28th. They issued a "sector perform" rating and a $645.00 price target for the company. Macquarie upped their price objective on Spotify Technology from $500.00 to $600.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Finally, Guggenheim reissued a "buy" rating and issued a $675.00 target price on shares of Spotify Technology in a research note on Monday, February 24th. Nine research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $555.30.

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Spotify Technology Stock Down 1.8 %

Shares of SPOT traded down $9.78 on Friday, hitting $543.24. The company's stock had a trading volume of 2,153,397 shares, compared to its average volume of 2,178,681. The firm's fifty day moving average price is $581.80 and its 200-day moving average price is $493.02. Spotify Technology S.A. has a fifty-two week low of $267.76 and a fifty-two week high of $652.63. The firm has a market capitalization of $111.21 billion, a price-to-earnings ratio of 91.30 and a beta of 1.75.

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.