IQ EQ FUND MANAGEMENT IRELAND Ltd Buys Shares of 1,496 Spotify Technology S.A. (NYSE:SPOT)

IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in Spotify Technology S.A. (NYSE:SPOT - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,496 shares of the company's stock, valued at approximately $669,000.

Several other institutional investors also recently modified their holdings of SPOT. Prestige Wealth Management Group LLC acquired a new stake in Spotify Technology during the third quarter valued at approximately $26,000. Hillsdale Investment Management Inc. bought a new stake in Spotify Technology in the fourth quarter valued at $27,000. Hobbs Group Advisors LLC acquired a new position in Spotify Technology during the third quarter worth $33,000. Larson Financial Group LLC lifted its holdings in shares of Spotify Technology by 51.6% during the third quarter. Larson Financial Group LLC now owns 97 shares of the company's stock valued at $36,000 after acquiring an additional 33 shares during the period. Finally, Quent Capital LLC boosted its stake in shares of Spotify Technology by 135.7% in the 4th quarter. Quent Capital LLC now owns 99 shares of the company's stock valued at $44,000 after purchasing an additional 57 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Benchmark lifted their price target on shares of Spotify Technology from $600.00 to $720.00 and gave the company a "buy" rating in a report on Wednesday, February 5th. KeyCorp boosted their target price on Spotify Technology from $555.00 to $600.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Barclays increased their price target on Spotify Technology from $475.00 to $710.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 5th. Guggenheim reissued a "buy" rating and issued a $675.00 price objective on shares of Spotify Technology in a research note on Monday, February 24th. Finally, Wolfe Research reaffirmed a "peer perform" rating on shares of Spotify Technology in a report on Friday, January 17th. Nine analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $557.47.

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Spotify Technology Stock Performance

SPOT stock traded up $21.19 during mid-day trading on Wednesday, hitting $572.92. 949,155 shares of the company were exchanged, compared to its average volume of 2,158,512. The firm has a market cap of $117.28 billion, a P/E ratio of 96.48 and a beta of 1.66. Spotify Technology S.A. has a 1-year low of $261.38 and a 1-year high of $652.63. The firm's 50 day simple moving average is $580.87 and its 200 day simple moving average is $482.18.

About Spotify Technology

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.