Quinn Opportunity Partners LLC Buys 2,000 Shares of Spotify Technology S.A. (NYSE:SPOT)

Quinn Opportunity Partners LLC lifted its holdings in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 16.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,800 shares of the company's stock after acquiring an additional 2,000 shares during the quarter. Quinn Opportunity Partners LLC's holdings in Spotify Technology were worth $6,174,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of SPOT. Jennison Associates LLC acquired a new stake in shares of Spotify Technology in the fourth quarter valued at approximately $1,335,575,000. GQG Partners LLC bought a new position in Spotify Technology in the 4th quarter valued at $800,725,000. Forsta AP Fonden acquired a new stake in shares of Spotify Technology in the 4th quarter valued at $619,600,000. Geode Capital Management LLC raised its position in shares of Spotify Technology by 561.6% during the fourth quarter. Geode Capital Management LLC now owns 1,483,392 shares of the company's stock worth $659,841,000 after acquiring an additional 1,259,183 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Spotify Technology during the fourth quarter valued at $396,028,000. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Stock Up 4.2 %

Shares of NYSE:SPOT traded up $23.28 during mid-day trading on Tuesday, reaching $572.45. 2,281,530 shares of the stock were exchanged, compared to its average volume of 2,181,887. The stock's 50 day simple moving average is $580.24 and its 200-day simple moving average is $495.06. Spotify Technology S.A. has a one year low of $267.76 and a one year high of $652.63. The company has a market cap of $117.18 billion, a P/E ratio of 96.21 and a beta of 1.75.

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Analysts Set New Price Targets

A number of brokerages recently commented on SPOT. Wolfe Research reiterated a "peer perform" rating on shares of Spotify Technology in a research report on Friday, January 17th. China Renaissance started coverage on shares of Spotify Technology in a research note on Wednesday, March 26th. They set a "buy" rating and a $740.00 price target for the company. KeyCorp reduced their price objective on shares of Spotify Technology from $675.00 to $625.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Citigroup upped their target price on shares of Spotify Technology from $540.00 to $720.00 and gave the company a "neutral" rating in a research report on Friday, February 14th. Finally, Cantor Fitzgerald restated a "neutral" rating and issued a $480.00 price target (down from $490.00) on shares of Spotify Technology in a research report on Tuesday, January 28th. Nine research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat, Spotify Technology presently has an average rating of "Moderate Buy" and an average target price of $554.97.

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.