Jump Financial LLC Makes New Investment in Spotify Technology S.A. (NYSE:SPOT)

Jump Financial LLC acquired a new position in Spotify Technology S.A. (NYSE:SPOT - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 21,720 shares of the company's stock, valued at approximately $9,717,000.

A number of other large investors have also added to or reduced their stakes in the company. Hillsdale Investment Management Inc. bought a new stake in shares of Spotify Technology in the 4th quarter valued at about $27,000. Quent Capital LLC grew its stake in Spotify Technology by 135.7% in the fourth quarter. Quent Capital LLC now owns 99 shares of the company's stock valued at $44,000 after purchasing an additional 57 shares during the last quarter. Noble Wealth Management PBC bought a new position in Spotify Technology in the fourth quarter worth about $52,000. Larson Financial Group LLC lifted its position in shares of Spotify Technology by 48.5% during the fourth quarter. Larson Financial Group LLC now owns 144 shares of the company's stock valued at $64,000 after buying an additional 47 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in shares of Spotify Technology by 89.9% in the 4th quarter. Versant Capital Management Inc now owns 150 shares of the company's stock valued at $67,000 after buying an additional 71 shares in the last quarter. Institutional investors own 84.09% of the company's stock.

Spotify Technology Trading Up 2.1 %

Spotify Technology stock traded up $11.78 during mid-day trading on Friday, reaching $574.85. The company had a trading volume of 1,731,552 shares, compared to its average volume of 2,185,760. The company has a market cap of $117.68 billion, a P/E ratio of 96.61 and a beta of 1.75. Spotify Technology S.A. has a fifty-two week low of $267.76 and a fifty-two week high of $652.63. The business has a fifty day simple moving average of $575.74 and a 200 day simple moving average of $498.86.

Analyst Ratings Changes

A number of research firms recently issued reports on SPOT. Redburn Atlantic began coverage on shares of Spotify Technology in a research report on Tuesday, March 11th. They set a "neutral" rating and a $545.00 target price for the company. Morgan Stanley upped their price objective on shares of Spotify Technology from $550.00 to $670.00 and gave the stock an "overweight" rating in a report on Wednesday, February 5th. Macquarie lifted their target price on Spotify Technology from $500.00 to $600.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Canaccord Genuity Group boosted their price target on shares of Spotify Technology from $650.00 to $700.00 and gave the company a "buy" rating in a research report on Wednesday, February 5th. Finally, Citigroup raised their target price on shares of Spotify Technology from $540.00 to $720.00 and gave the stock a "neutral" rating in a research note on Friday, February 14th. Nine research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $564.45.

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.