6,600 Shares in Spotify Technology S.A. (NYSE:SPOT) Acquired by Prakash Investment Advisors LLC

Prakash Investment Advisors LLC purchased a new position in shares of Spotify Technology S.A. (NYSE:SPOT) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 6,600 shares of the company’s stock, valued at approximately $2,953,000. Spotify Technology makes up 2.9% of Prakash Investment Advisors LLC’s portfolio, making the stock its 8th biggest position.

Other hedge funds also recently made changes to their positions in the company. Jennison Associates LLC acquired a new stake in shares of Spotify Technology in the 4th quarter valued at approximately $1,335,575,000. Forsta AP Fonden acquired a new stake in shares of Spotify Technology in the 4th quarter valued at approximately $619,600,000. WCM Investment Management LLC boosted its holdings in shares of Spotify Technology by 18.5% in the 3rd quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock valued at $1,430,142,000 after buying an additional 605,755 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in Spotify Technology by 36,910.0% during the 3rd quarter. International Assets Investment Management LLC now owns 347,524 shares of the company’s stock valued at $128,073,000 after purchasing an additional 346,585 shares during the last quarter. Finally, FMR LLC lifted its holdings in Spotify Technology by 23.4% during the 3rd quarter. FMR LLC now owns 1,567,818 shares of the company’s stock valued at $577,788,000 after purchasing an additional 297,035 shares during the last quarter. 84.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SPOT shares. Morgan Stanley raised their price target on Spotify Technology from $550.00 to $670.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Barclays lifted their target price on Spotify Technology from $475.00 to $710.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Phillip Securities reissued an “accumulate” rating and set a $485.00 target price (up previously from $420.00) on shares of Spotify Technology in a report on Wednesday, November 13th. Bank of America lifted their target price on Spotify Technology from $430.00 to $515.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, TD Cowen lifted their target price on Spotify Technology from $356.00 to $416.00 and gave the stock a “hold” rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, Spotify Technology has an average rating of “Moderate Buy” and an average target price of $529.43.

Spotify Technology Stock Down 1.0 %

Spotify Technology stock opened at $636.52 on Friday. The stock has a market cap of $126.70 billion, a PE ratio of 106.98 and a beta of 1.63. The business’s 50-day moving average price is $521.07 and its two-hundred day moving average price is $433.77. Spotify Technology S.A. has a 12-month low of $240.73 and a 12-month high of $652.63.

Spotify Technology Company 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.