Dnca Finance Has $10.07 Million Stock Position in Spotify Technology S.A. (NYSE:SPOT)

Dnca Finance decreased its holdings in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 59.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,500 shares of the company's stock after selling 32,793 shares during the quarter. Dnca Finance's holdings in Spotify Technology were worth $10,066,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Hillsdale Investment Management Inc. acquired a new stake in shares of Spotify Technology in the 4th quarter valued at approximately $27,000. Quent Capital LLC raised its holdings in Spotify Technology by 135.7% in the fourth quarter. Quent Capital LLC now owns 99 shares of the company's stock worth $44,000 after purchasing an additional 57 shares during the period. Noble Wealth Management PBC acquired a new position in shares of Spotify Technology in the 4th quarter valued at $52,000. Strategic Financial Concepts LLC bought a new stake in shares of Spotify Technology in the 4th quarter valued at $56,000. Finally, Larson Financial Group LLC raised its stake in Spotify Technology by 48.5% during the 4th quarter. Larson Financial Group LLC now owns 144 shares of the company's stock worth $64,000 after buying an additional 47 shares during the period. 84.09% of the stock is owned by institutional investors.

Spotify Technology Price Performance

SPOT stock traded up $17.52 during midday trading on Thursday, reaching $610.22. 997,643 shares of the stock were exchanged, compared to its average volume of 2,122,052. The stock has a market capitalization of $124.92 billion, a PE ratio of 102.56 and a beta of 1.75. Spotify Technology S.A. has a 52 week low of $271.65 and a 52 week high of $652.63. The company has a fifty day moving average price of $572.08 and a 200 day moving average price of $503.17.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SPOT shares. JPMorgan Chase & Co. lowered their price target on Spotify Technology from $730.00 to $640.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Macquarie upped their price target on shares of 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 lifted their price target on Spotify Technology from $690.00 to $740.00 and gave the company an "overweight" rating in a research note on Friday, March 28th. UBS Group dropped their target price on Spotify Technology from $690.00 to $680.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Finally, Redburn Atlantic began coverage on Spotify Technology in a research report on Tuesday, March 11th. They set a "neutral" rating and a $545.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat, Spotify Technology presently has a consensus 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.