Ieq Capital LLC Increases Stock Position in Spotify Technology S.A. (NYSE:SPOT)

Ieq Capital LLC raised its position in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 5.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 31,517 shares of the company's stock after buying an additional 1,553 shares during the period. Ieq Capital LLC's holdings in Spotify Technology were worth $14,100,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of SPOT. Aigen Investment Management LP increased its position in shares of Spotify Technology by 42.4% during the third quarter. Aigen Investment Management LP now owns 9,800 shares of the company's stock valued at $3,612,000 after acquiring an additional 2,918 shares during the last quarter. Jennison Associates LLC purchased a new stake in shares of Spotify Technology during the 4th quarter valued at $1,335,575,000. Marks Group Wealth Management Inc bought a new stake in shares of Spotify Technology during the 4th quarter worth $535,000. Patriot Financial Group Insurance Agency LLC purchased a new position in shares of Spotify Technology in the 4th quarter worth about $214,000. Finally, Pathway Capital Management LP grew its position in Spotify Technology by 23.8% during the third quarter. Pathway Capital Management LP now owns 57,340 shares of the company's stock valued at $21,132,000 after buying an additional 11,042 shares during the period. Institutional investors own 84.09% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Bank of America raised their price target on shares of Spotify Technology from $430.00 to $515.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. TD Cowen increased their price target on Spotify Technology from $356.00 to $416.00 and gave the stock a "hold" rating in a research note on Wednesday, November 13th. The Goldman Sachs Group upped their price objective on shares of Spotify Technology from $550.00 to $695.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Spotify Technology from $430.00 to $440.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. Finally, Piper Sandler raised their price objective on shares of Spotify Technology from $330.00 to $450.00 and gave the stock a "neutral" rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $529.43.

Spotify Technology Stock Performance

SPOT stock traded down $29.65 on Friday, reaching $607.12. The company's stock had a trading volume of 1,496,352 shares, compared to its average volume of 2,039,886. The firm has a market cap of $120.85 billion, a PE ratio of 102.30 and a beta of 1.63. The business has a fifty day simple moving average of $521.07 and a two-hundred day simple moving average of $433.77. Spotify Technology S.A. has a 12-month low of $243.99 and a 12-month high of $652.63.

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.