10,000 Shares in Spotify Technology S.A. (NYSE:SPOT) Bought by SPX Gestao de Recursos Ltda

SPX Gestao de Recursos Ltda acquired a new stake in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,000 shares of the company's stock, valued at approximately $4,474,000.

Other hedge funds also recently bought and sold shares of the company. Prestige Wealth Management Group LLC bought a new stake in Spotify Technology during the third quarter valued at about $26,000. Hobbs Group Advisors LLC bought a new position in shares of Spotify Technology in the third quarter worth about $33,000. Larson Financial Group LLC boosted its stake in shares of Spotify Technology by 51.6% in the third quarter. Larson Financial Group LLC now owns 97 shares of the company's stock worth $36,000 after acquiring an additional 33 shares during the period. Quent Capital LLC boosted its stake in shares of Spotify Technology by 135.7% in 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 period. Finally, Rakuten Securities Inc. boosted its stake in shares of Spotify Technology by 40.5% in the third quarter. Rakuten Securities Inc. now owns 111 shares of the company's stock worth $41,000 after acquiring an additional 32 shares during the period. Hedge funds and other institutional investors own 84.09% of the company's stock.

Spotify Technology Price Performance

NYSE SPOT traded up $27.42 during midday trading on Wednesday, hitting $535.86. 2,706,621 shares of the company traded hands, compared to its average volume of 2,320,080. The company has a market cap of $109.69 billion, a PE ratio of 90.04 and a beta of 1.66. The company's 50-day simple moving average is $549.75 and its 200-day simple moving average is $456.64. Spotify Technology S.A. has a 52 week low of $249.58 and a 52 week high of $652.63.

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Analyst Ratings Changes

A number of equities analysts recently commented on SPOT shares. Citigroup increased their price target on Spotify Technology from $540.00 to $720.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. Benchmark increased their price target on Spotify Technology from $600.00 to $720.00 and gave the company a "buy" rating in a research note on Wednesday, February 5th. Macquarie increased their price target on Spotify Technology from $500.00 to $600.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Cantor Fitzgerald reissued a "neutral" rating and set a $480.00 price target (down from $490.00) on shares of Spotify Technology in a research note on Tuesday, January 28th. Finally, TD Cowen upped their price objective on Spotify Technology from $356.00 to $416.00 and gave the company a "hold" rating in a research report on Wednesday, November 13th. Eight equities research analysts have rated the stock with a hold rating and twenty have given 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 $540.68.

Spotify Technology 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.