OPTIMAS CAPITAL Ltd Raises Stock Holdings in Spotify Technology S.A. (NYSE:SPOT)

OPTIMAS CAPITAL Ltd raised its stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 17.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,800 shares of the company's stock after acquiring an additional 1,000 shares during the period. Spotify Technology makes up 4.1% of OPTIMAS CAPITAL Ltd's portfolio, making the stock its 11th biggest position. OPTIMAS CAPITAL Ltd's holdings in Spotify Technology were worth $3,042,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

SPOT has been the subject of several recent research reports. Wolfe Research restated a "peer perform" rating on shares of Spotify Technology in a report on Friday, January 17th. Morgan Stanley boosted their target price on shares of Spotify Technology from $550.00 to $670.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 5th. Redburn Atlantic assumed 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 on the stock. Guggenheim reaffirmed a "buy" rating and issued a $675.00 price objective on shares of Spotify Technology in a report on Monday, February 24th. Finally, Canaccord Genuity Group upped their price objective on shares of Spotify Technology from $650.00 to $700.00 and gave the company a "buy" rating in a report on Wednesday, February 5th. Eight investment 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 stock currently has a consensus rating of "Moderate Buy" and an average target price of $540.68.

Remove Ads

Spotify Technology Price Performance

Shares of Spotify Technology stock traded up $5.09 on Friday, hitting $599.64. 2,543,337 shares of the company's stock traded hands, compared to its average volume of 2,102,455. Spotify Technology S.A. has a one year low of $257.56 and a one year high of $652.63. The company has a fifty day moving average of $567.23 and a two-hundred day moving average of $468.06. The company has a market capitalization of $122.75 billion, a price-to-earnings ratio of 100.78 and a beta of 1.66.

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.