Spotify Technology S.A. (NYSE:SPOT) Shares Purchased by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC increased its position in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 18.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,598 shares of the company's stock after acquiring an additional 3,536 shares during the period. O Shaughnessy Asset Management LLC's holdings in Spotify Technology were worth $10,110,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of SPOT. Prestige Wealth Management Group LLC purchased a new position in shares of Spotify Technology in the third quarter valued at $26,000. Hillsdale Investment Management Inc. acquired a new stake in Spotify Technology in the 4th quarter valued at about $27,000. Hobbs Group Advisors LLC purchased a new position in Spotify Technology during the 3rd quarter valued at about $33,000. Quent Capital LLC raised its position in Spotify Technology by 135.7% during the fourth quarter. Quent Capital LLC now owns 99 shares of the company's stock worth $44,000 after acquiring an additional 57 shares during the last quarter. Finally, Noble Wealth Management PBC acquired a new position in Spotify Technology during the fourth quarter worth about $52,000. 84.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Canaccord Genuity Group raised their price objective on shares of Spotify Technology from $650.00 to $700.00 and gave the stock a "buy" rating in a research note on Wednesday, February 5th. Rosenblatt Securities reissued a "neutral" rating and issued a $658.00 price target (up from $473.00) on shares of Spotify Technology in a report on Wednesday, February 5th. Wells Fargo & Company increased their price objective on Spotify Technology from $690.00 to $740.00 and gave the company an "overweight" rating in a research note on Friday, March 28th. Morgan Stanley boosted their target price on shares of Spotify Technology from $550.00 to $670.00 and gave the company an "overweight" rating in a research note on Wednesday, February 5th. Finally, Wolfe Research restated a "peer perform" rating on shares of Spotify Technology in a report on Friday, January 17th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $557.47.

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Spotify Technology Trading Up 2.4 %

Shares of SPOT traded up $13.44 during midday trading on Wednesday, reaching $565.17. 1,919,603 shares of the company were exchanged, compared to its average volume of 2,163,134. Spotify Technology S.A. has a 1-year low of $267.76 and a 1-year high of $652.63. The stock has a 50-day moving average price of $582.30 and a 200-day moving average price of $482.76. The company has a market cap of $115.69 billion, a price-to-earnings ratio of 94.99 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.