TD Waterhouse Canada Inc. Grows Stake in Spotify Technology S.A. (NYSE:SPOT)

TD Waterhouse Canada Inc. lifted its stake in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 131.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,997 shares of the company's stock after purchasing an additional 2,834 shares during the period. TD Waterhouse Canada Inc.'s holdings in Spotify Technology were worth $2,234,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of SPOT. Hillsdale Investment Management Inc. bought a new position in Spotify Technology during the fourth quarter worth about $27,000. Quent Capital LLC lifted 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 valued at $44,000 after buying an additional 57 shares in the last quarter. Noble Wealth Management PBC bought a new position in Spotify Technology in the 4th quarter worth approximately $52,000. Strategic Financial Concepts LLC purchased a new position in Spotify Technology in the 4th quarter valued at approximately $56,000. Finally, Larson Financial Group LLC raised its holdings in Spotify Technology by 48.5% during the 4th quarter. Larson Financial Group LLC now owns 144 shares of the company's stock valued at $64,000 after acquiring an additional 47 shares during the period. Hedge funds and other institutional investors own 84.09% of the company's stock.

Spotify Technology Trading Up 0.3 %

Spotify Technology stock opened at $591.90 on Thursday. Spotify Technology S.A. has a 1-year low of $271.65 and a 1-year high of $652.63. The firm has a market cap of $121.17 billion, a P/E ratio of 99.48 and a beta of 1.75. The firm has a 50-day moving average of $572.08 and a 200-day moving average of $503.17.

Analysts Set New Price Targets

SPOT has been the subject of a number of analyst reports. FBN Securities assumed coverage on Spotify Technology in a report on Friday, March 28th. They issued a "sector perform" rating and a $645.00 price target for the company. Benchmark raised their target price on Spotify Technology from $600.00 to $720.00 and gave the stock a "buy" rating in a research note on Wednesday, February 5th. JPMorgan Chase & Co. decreased their price target on Spotify Technology from $730.00 to $640.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Macquarie increased their price target on shares of Spotify Technology from $500.00 to $600.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Finally, Guggenheim reaffirmed a "buy" rating and set a $675.00 price objective on shares of Spotify Technology in a research note on Monday, February 24th. Seven investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $585.32.

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.

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