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Hartford Investment Management Co. Invests $641,000 in Spotify Technology S.A. (NYSE:SPOT)

Spotify Technology logo with Business Services background

Hartford Investment Management Co. acquired a new stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 1,433 shares of the company's stock, valued at approximately $641,000.

A number of other large investors have also bought and sold shares of SPOT. Prestige Wealth Management Group LLC acquired a new stake in shares of Spotify Technology in the 3rd quarter valued at about $26,000. Hobbs Group Advisors LLC acquired a new stake in Spotify Technology in the 3rd quarter valued at approximately $33,000. Larson Financial Group LLC lifted its stake in Spotify Technology by 51.6% in the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company's stock valued at $36,000 after acquiring an additional 33 shares in the last quarter. Quent Capital LLC boosted its position in Spotify Technology by 135.7% during the 4th quarter. Quent Capital LLC now owns 99 shares of the company's stock worth $44,000 after acquiring an additional 57 shares during the last quarter. Finally, V Square Quantitative Management LLC bought a new position in shares of Spotify Technology during the 3rd quarter worth approximately $40,000. 84.09% of the stock is owned by institutional investors.

Spotify Technology Price Performance

NYSE SPOT traded up $11.22 on Wednesday, reaching $641.78. The stock had a trading volume of 1,298,075 shares, compared to its average volume of 2,051,600. The company has a market cap of $127.75 billion, a P/E ratio of 107.86 and a beta of 1.63. The firm has a fifty day moving average of $514.65 and a two-hundred day moving average of $430.88. Spotify Technology S.A. has a 1-year low of $239.66 and a 1-year high of $652.63.

Wall Street Analysts Forecast Growth

SPOT has been the topic of a number of research reports. UBS Group boosted their price objective on shares of Spotify Technology from $485.00 to $540.00 and gave the stock a "buy" rating in a research report on Wednesday, January 15th. Citigroup boosted their price target on shares of Spotify Technology from $540.00 to $720.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. The Goldman Sachs Group raised their price objective on Spotify Technology from $550.00 to $695.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Barclays upped their target price on Spotify Technology from $475.00 to $710.00 and gave the stock an "overweight" rating in a report on Wednesday, February 5th. Finally, Bank of America raised their price target on Spotify Technology from $430.00 to $515.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $529.43.

Read Our Latest Stock Report on Spotify Technology

Spotify Technology 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.

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Institutional Ownership by Quarter for Spotify Technology (NYSE:SPOT)

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