ARK Investment Management LLC raised its holdings in Spotify Technology S.A. (NYSE:SPOT – Free Report) by 0.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 113,178 shares of the company’s stock after acquiring an additional 238 shares during the quarter. ARK Investment Management LLC owned 0.06% of Spotify Technology worth $21,267,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. increased its position in shares of Spotify Technology by 410.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 97,771 shares of the company’s stock valued at $18,372,000 after buying an additional 78,609 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Spotify Technology by 10.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 24,266 shares of the company’s stock valued at $4,560,000 after buying an additional 2,263 shares in the last quarter. Raymond James & Associates increased its position in shares of Spotify Technology by 19.0% in the fourth quarter. Raymond James & Associates now owns 38,410 shares of the company’s stock valued at $7,218,000 after buying an additional 6,139 shares in the last quarter. Rheos Capital Works Inc. increased its position in shares of Spotify Technology by 205.7% in the fourth quarter. Rheos Capital Works Inc. now owns 107,000 shares of the company’s stock valued at $20,106,000 after buying an additional 72,000 shares in the last quarter. Finally, CoreCap Advisors LLC purchased a new position in shares of Spotify Technology in the fourth quarter valued at $210,000. Institutional investors and hedge funds own 84.09% of the company’s stock.
Spotify Technology Price Performance
Spotify Technology stock opened at $260.21 on Thursday. The stock’s 50 day moving average price is $241.86 and its 200 day moving average price is $198.29. Spotify Technology S.A. has a one year low of $126.83 and a one year high of $278.30.
Wall Street Analysts Forecast Growth
Several analysts have commented on SPOT shares. Raymond James lifted their price target on Spotify Technology from $180.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, December 11th. UBS Group upgraded Spotify Technology from a “neutral” rating to a “buy” rating and lifted their price target for the company from $170.00 to $274.00 in a report on Tuesday, January 30th. Citigroup restated a “neutral” rating and issued a $190.00 price target on shares of Spotify Technology in a report on Friday, December 1st. Benchmark lifted their price target on Spotify Technology from $260.00 to $290.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Finally, Robert W. Baird lifted their price objective on Spotify Technology from $185.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, December 8th. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.36.
Check Out Our Latest Research Report on Spotify Technology
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.
Read More
- Five stocks we like better than Spotify Technology
- What Investors Must Know About Over-the-Counter (OTC) Stocks
- Best Bear Market Funds: Top 3 Investment Options to Consider
- How Technical Indicators Can Help You Find Oversold Stocks
- Is DraftKings A Good Bet Ahead of Q1 Earnings?
- Stock Splits, Do They Really Impact Investors?
- Mid-Cap Stocks to Outperform the Market This Cycle
Receive News & Ratings for Spotify Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spotify Technology and related companies with MarketBeat.com's FREE daily email newsletter.