Tocqueville Asset Management L.P. Acquires New Position in Spotify Technology S.A. (NYSE:SPOT)

Tocqueville Asset Management L.P. acquired a new position in Spotify Technology S.A. (NYSE:SPOT - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 467 shares of the company's stock, valued at approximately $209,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SPOT. Prestige Wealth Management Group LLC purchased a new stake in shares of Spotify Technology in the third quarter worth approximately $26,000. Hobbs Group Advisors LLC purchased a new stake in Spotify Technology in the 3rd quarter worth approximately $33,000. Larson Financial Group LLC boosted its stake in shares of Spotify Technology by 51.6% during the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company's stock valued at $36,000 after buying an additional 33 shares during the period. Quent Capital LLC grew its holdings 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 acquiring an additional 57 shares in the last quarter. Finally, Noble Wealth Management PBC acquired a new position in shares of Spotify Technology in the fourth quarter worth $52,000. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Redburn Atlantic initiated coverage on Spotify Technology in a research note on Tuesday, March 11th. They issued a "neutral" rating and a $545.00 target price on the stock. Canaccord Genuity Group boosted their target price on shares of Spotify Technology from $650.00 to $700.00 and gave the stock a "buy" rating in a research report on Wednesday, February 5th. Macquarie upped their price objective 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. UBS Group raised their target price on Spotify Technology from $485.00 to $540.00 and gave the company a "buy" rating in a report on Wednesday, January 15th. Finally, KeyCorp upped their target price on Spotify Technology from $555.00 to $600.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Eight research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $540.68.

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Spotify Technology Price Performance

Shares of NYSE SPOT traded up $11.13 during midday trading on Tuesday, hitting $615.84. The stock had a trading volume of 1,571,754 shares, compared to its average volume of 2,106,639. The firm has a market cap of $126.07 billion, a P/E ratio of 103.50 and a beta of 1.66. Spotify Technology S.A. has a fifty-two week low of $257.56 and a fifty-two week high of $652.63. The company's 50-day simple moving average is $570.20 and its 200 day simple moving average is $471.97.

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.