Ieq Capital LLC Acquires 1,553 Shares of Spotify Technology S.A. (NYSE:SPOT)

Ieq Capital LLC increased its position in Spotify Technology S.A. (NYSE:SPOT) by 5.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 31,517 shares of the company’s stock after purchasing an additional 1,553 shares during the quarter. Ieq Capital LLC’s holdings in Spotify Technology were worth $14,100,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Prestige Wealth Management Group LLC purchased a new position in Spotify Technology during the third quarter valued at $26,000. Hobbs Group Advisors LLC purchased a new position in Spotify Technology during the third quarter valued at $33,000. Larson Financial Group LLC raised its stake in Spotify Technology by 51.6% during the third 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 last quarter. Rakuten Securities Inc. raised its stake in Spotify Technology by 40.5% during the third quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock valued at $41,000 after buying an additional 32 shares during the last quarter. Finally, Quent Capital LLC raised its stake in 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 during the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Up 1.8 %

Shares of Spotify Technology stock opened at $641.78 on Thursday. The stock’s 50-day simple moving average is $517.95 and its 200-day simple moving average is $432.35. Spotify Technology S.A. has a 52 week low of $239.66 and a 52 week high of $652.63. The company has a market capitalization of $127.75 billion, a price-to-earnings ratio of 107.86 and a beta of 1.63.

Analysts Set New Price Targets

A number of analysts have commented on SPOT shares. Guggenheim lifted their target price on Spotify Technology from $520.00 to $675.00 and gave the stock a “buy” rating in a report on Wednesday, February 5th. The Goldman Sachs Group lifted their price objective on Spotify Technology from $550.00 to $695.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. lifted their price objective on Spotify Technology from $555.00 to $730.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. TD Cowen lifted their price objective on Spotify Technology from $356.00 to $416.00 and gave the stock a “hold” rating in a report on Wednesday, November 13th. Finally, Phillip Securities reaffirmed an “accumulate” rating and issued a $485.00 price objective (up previously from $420.00) on shares of Spotify Technology in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, Spotify Technology currently has a consensus rating of “Moderate Buy” and an average price target of $529.43.

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.