Spotify Technology S.A. (NYSE:SPOT) Stock Holdings Lifted by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd raised its holdings in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 35.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,964 shares of the company's stock after purchasing an additional 1,835 shares during the period. Harvest Fund Management Co. Ltd's holdings in Spotify Technology were worth $3,114,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of SPOT. Prestige Wealth Management Group LLC acquired a new position in shares of Spotify Technology in the 3rd quarter valued at about $26,000. Hobbs Group Advisors LLC bought a new position in shares of Spotify Technology during the third quarter valued at approximately $33,000. Larson Financial Group LLC raised its position in shares of Spotify Technology by 51.6% during the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company's stock worth $36,000 after purchasing an additional 33 shares during the period. Quent Capital LLC lifted its holdings in shares of Spotify Technology by 135.7% in the 4th quarter. Quent Capital LLC now owns 99 shares of the company's stock worth $44,000 after purchasing an additional 57 shares during the last quarter. Finally, Noble Wealth Management PBC acquired a new position in Spotify Technology during the 4th quarter valued at approximately $52,000. 84.09% of the stock is owned by institutional investors and hedge funds.

Spotify Technology Stock Up 0.9 %

Spotify Technology stock traded up $5.09 during mid-day trading on Friday, hitting $599.64. The company's stock had a trading volume of 2,543,337 shares, compared to its average volume of 2,107,412. The stock has a market capitalization of $122.75 billion, a P/E ratio of 100.78 and a beta of 1.66. Spotify Technology S.A. has a twelve month low of $257.56 and a twelve month high of $652.63. The stock's fifty day moving average price is $567.23 and its two-hundred day moving average price is $469.03.

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Analysts Set New Price Targets

Several brokerages have weighed in on SPOT. Macquarie increased their target price on Spotify Technology from $500.00 to $600.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. UBS Group lifted their price objective on shares of Spotify Technology from $485.00 to $540.00 and gave the company a "buy" rating in a research report on Wednesday, January 15th. Wells Fargo & Company boosted their target price on shares of Spotify Technology from $520.00 to $690.00 and gave the company an "overweight" rating in a research note on Wednesday, February 5th. Barclays raised their price target on shares of Spotify Technology from $475.00 to $710.00 and gave the company an "overweight" rating in a research note on Wednesday, February 5th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and set a $480.00 price objective (down from $490.00) on shares of Spotify Technology in a research report on Tuesday, January 28th. Eight analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company's stock. According to MarketBeat, Spotify Technology has a consensus rating of "Moderate Buy" and an average target price of $540.68.

Spotify Technology Company 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.