Claret Asset Management Corp Invests $289,000 in Spotify Technology S.A. (NYSE:SPOT)

Claret Asset Management Corp bought a new stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 646 shares of the company's stock, valued at approximately $289,000.

A number of other institutional investors have also recently made changes to their positions in SPOT. Thrivent Financial for Lutherans boosted its position in Spotify Technology by 566.1% during the fourth quarter. Thrivent Financial for Lutherans now owns 7,980 shares of the company's stock valued at $3,541,000 after buying an additional 6,782 shares during the period. Jennison Associates LLC purchased a new stake in Spotify Technology during the 4th quarter valued at about $1,335,575,000. Marks Group Wealth Management Inc bought a new position in Spotify Technology during the 4th quarter worth approximately $535,000. Patriot Financial Group Insurance Agency LLC purchased a new position in Spotify Technology in the 4th quarter worth approximately $214,000. Finally, Swedbank AB lifted its position in Spotify Technology by 20.9% in the fourth quarter. Swedbank AB now owns 946,129 shares of the company's stock valued at $423,279,000 after purchasing an additional 163,626 shares during the last quarter. Institutional investors own 84.09% of the company's stock.

Spotify Technology Stock Up 2.4 %

SPOT traded up $14.35 on Thursday, reaching $607.05. 1,094,281 shares of the company traded hands, compared to its average volume of 2,375,158. The company has a market cap of $124.27 billion, a P/E ratio of 102.15 and a beta of 1.75. Spotify Technology S.A. has a one year low of $271.65 and a one year high of $652.63. The firm has a fifty day simple moving average of $572.08 and a two-hundred day simple moving average of $503.17.

Analysts Set New Price Targets

A number of research firms have commented on SPOT. KeyCorp lowered their price target on Spotify Technology from $675.00 to $625.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Wells Fargo & Company lifted their price objective on Spotify Technology from $690.00 to $740.00 and gave the company an "overweight" rating in a research report on Friday, March 28th. Wolfe Research upgraded shares of Spotify Technology from a "peer perform" rating to an "outperform" rating and set a $660.00 price target for the company in a research note on Monday. JPMorgan Chase & Co. lowered their price objective on Spotify Technology from $730.00 to $640.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Finally, Citigroup upped their target price on shares of Spotify Technology from $540.00 to $720.00 and gave the stock a "neutral" rating in a research note on Friday, February 14th. Seven equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat, Spotify Technology presently has an average rating of "Moderate Buy" and an average price target of $585.32.

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.