Capital International Ltd. CA Invests $1.43 Million in Spotify Technology S.A. (NYSE:SPOT)

Capital International Ltd. CA acquired a new position in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,205 shares of the company's stock, valued at approximately $1,434,000.

A number of other large investors have also made changes to their positions in the stock. Hillsdale Investment Management Inc. bought a new stake in Spotify Technology in the 4th quarter valued at $27,000. Quent Capital LLC increased its stake in 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 acquiring an additional 57 shares during the period. Noble Wealth Management PBC bought a new stake in Spotify Technology in the fourth quarter valued at about $52,000. Strategic Financial Concepts LLC acquired a new position in Spotify Technology in the fourth quarter worth about $56,000. Finally, Larson Financial Group LLC lifted its stake in Spotify Technology by 48.5% during the fourth quarter. Larson Financial Group LLC now owns 144 shares of the company's stock worth $64,000 after purchasing an additional 47 shares during the period. Institutional investors and hedge funds own 84.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on SPOT shares. China Renaissance initiated coverage on Spotify Technology in a report on Wednesday, March 26th. They issued a "buy" rating and a $740.00 target price for the company. Morgan Stanley increased their price objective on Spotify Technology from $550.00 to $670.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 5th. Macquarie lifted their price objective on Spotify Technology from $500.00 to $600.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Wells Fargo & Company upped their target price on shares of Spotify Technology from $690.00 to $740.00 and gave the stock an "overweight" rating in a report on Friday, March 28th. Finally, Cantor Fitzgerald cut their price target on shares of Spotify Technology from $600.00 to $520.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Seven analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $585.32.

Spotify Technology Stock Up 2.2 %

NYSE SPOT traded up $13.25 on Thursday, reaching $605.95. The company had a trading volume of 930,936 shares, compared to its average volume of 2,373,275. Spotify Technology S.A. has a 52 week low of $271.65 and a 52 week high of $652.63. The stock's 50 day moving average is $572.08 and its 200-day moving average is $503.17. The stock has a market cap of $124.04 billion, a price-to-earnings ratio of 101.84 and a beta of 1.75.

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.