Franklin Resources Inc. grew its position in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 34.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 865,725 shares of the company's stock after purchasing an additional 224,005 shares during the quarter. Franklin Resources Inc. owned about 0.43% of Spotify Technology worth $387,308,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of SPOT. Prestige Wealth Management Group LLC purchased a new position in shares of Spotify Technology in the 3rd quarter valued at approximately $26,000. Hillsdale Investment Management Inc. acquired a new position in Spotify Technology during the 4th quarter valued at approximately $27,000. Hobbs Group Advisors LLC purchased a new position in shares of Spotify Technology in the third quarter worth $33,000. Quent Capital LLC lifted its stake in shares of 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 period. Finally, Noble Wealth Management PBC purchased a new stake in shares of Spotify Technology during the fourth quarter valued at $52,000. 84.09% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities analysts recently issued reports on SPOT shares. JPMorgan Chase & Co. raised their target price on Spotify Technology from $555.00 to $730.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 5th. Benchmark raised their price objective on Spotify Technology from $600.00 to $720.00 and gave the stock a "buy" rating in a research note on Wednesday, February 5th. Redburn Atlantic assumed coverage on Spotify Technology in a research report on Tuesday, March 11th. They issued a "neutral" rating and a $545.00 target price on the stock. Wells Fargo & Company increased their price target 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, Wolfe Research restated a "peer perform" rating on shares of Spotify Technology in a research note on Friday, January 17th. Nine research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $557.47.
Get Our Latest Stock Analysis on Spotify Technology
Spotify Technology Price Performance
NYSE SPOT traded down $6.93 during mid-day trading on Thursday, hitting $558.48. The stock had a trading volume of 2,961,361 shares, compared to its average volume of 2,166,306. The firm's 50 day moving average is $582.30 and its 200 day moving average is $482.76. The stock has a market capitalization of $114.32 billion, a price-to-earnings ratio of 93.86 and a beta of 1.75. Spotify Technology S.A. has a twelve month low of $267.76 and a twelve month high of $652.63.
Spotify Technology Company Profile
(
Free Report)
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.
See Also
Before you consider Spotify Technology, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Spotify Technology wasn't on the list.
While Spotify Technology currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Get this report to learn how options trading can help you use the market’s volatility to your advantage.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
