Trek Financial LLC bought a new stake in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 5,647 shares of the company's stock, valued at approximately $2,526,000.
A number of other hedge funds have also recently bought and sold shares of the company. Prestige Wealth Management Group LLC purchased a new stake in shares of Spotify Technology in the 3rd quarter valued at approximately $26,000. Hillsdale Investment Management Inc. purchased a new stake in shares of Spotify Technology in the fourth quarter valued at $27,000. Hobbs Group Advisors LLC acquired a new stake in shares of Spotify Technology in the third quarter worth $33,000. Quent Capital LLC grew its holdings in shares of Spotify Technology by 135.7% during the fourth 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. Finally, Noble Wealth Management PBC acquired a new position in Spotify Technology during the fourth quarter valued at $52,000. 84.09% of the stock is owned by institutional investors and hedge funds.
Spotify Technology Stock Down 1.8 %
SPOT traded down $9.78 during trading on Friday, reaching $543.24. 2,153,397 shares of the company's stock were exchanged, compared to its average volume of 2,178,681. Spotify Technology S.A. has a fifty-two week low of $267.76 and a fifty-two week high of $652.63. The company has a market capitalization of $111.21 billion, a P/E ratio of 91.30 and a beta of 1.75. The business has a 50 day moving average price of $581.80 and a 200 day moving average price of $493.02.
Analyst Ratings Changes
A number of brokerages recently commented on SPOT. JPMorgan Chase & Co. lowered their price objective on shares of Spotify Technology from $730.00 to $640.00 and set an "overweight" rating on the stock in a research report on Tuesday. Morgan Stanley upped their price target on shares of Spotify Technology from $550.00 to $670.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 5th. Cantor Fitzgerald reissued a "neutral" rating and set a $480.00 price objective (down previously from $490.00) on shares of Spotify Technology in a research report on Tuesday, January 28th. China Renaissance started coverage on Spotify Technology in a research report on Wednesday, March 26th. They issued a "buy" rating and a $740.00 target price on the stock. Finally, Rosenblatt Securities reiterated a "neutral" rating and set a $658.00 price target (up from $473.00) on shares of Spotify Technology in a report on Wednesday, February 5th. Nine investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Spotify Technology has a consensus rating of "Moderate Buy" and a consensus target price of $555.30.
View Our Latest Stock Report on Spotify Technology
Spotify Technology Profile
(
Free Report)
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.
See Also
Before you consider Spotify Technology, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Spotify Technology wasn't on the list.
While Spotify Technology currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Almost everyone loves strong dividend-paying stocks, but high yields can signal danger. Discover 20 high-yield dividend stocks paying an unsustainably large percentage of their earnings. Enter your email to get this report and avoid a high-yield dividend trap.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
