Central Asset Investments & Management Holdings HK Ltd Makes New Investment in Spotify Technology S.A. (NYSE:SPOT)

Central Asset Investments & Management Holdings HK Ltd bought a new position in Spotify Technology S.A. (NYSE:SPOT) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 726 shares of the company’s stock, valued at approximately $325,000.

A number of other institutional investors have also made changes to their positions in the company. Prestige Wealth Management Group LLC acquired a new position in shares of Spotify Technology during the third quarter valued at $26,000. Hobbs Group Advisors LLC bought a new stake in Spotify Technology in the 3rd quarter valued at about $33,000. Larson Financial Group LLC boosted its stake in 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 purchasing an additional 33 shares during the period. Quent Capital LLC grew its position in Spotify Technology by 135.7% in the 4th quarter. Quent Capital LLC now owns 99 shares of the company’s stock worth $44,000 after purchasing an additional 57 shares during the last quarter. Finally, Rakuten Securities Inc. increased its stake in shares of Spotify Technology by 40.5% in the third quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock valued at $41,000 after purchasing an additional 32 shares during the period. 84.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Guggenheim reiterated a “buy” rating and set a $675.00 price objective on shares of Spotify Technology in a research report on Monday. TD Cowen boosted their price target on Spotify Technology from $356.00 to $416.00 and gave the stock a “hold” rating in a research report on Wednesday, November 13th. Rosenblatt Securities reissued a “neutral” rating and issued a $658.00 price target (up previously from $473.00) on shares of Spotify Technology in a research note on Wednesday, February 5th. Wells Fargo & Company lifted their price objective on shares of Spotify Technology from $520.00 to $690.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Finally, Bank of America upped their price objective on shares of Spotify Technology from $430.00 to $515.00 and gave the stock a “buy” rating 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $529.43.

Spotify Technology Trading Up 2.4 %

Shares of SPOT opened at $602.53 on Thursday. The business’s 50-day moving average price is $531.23 and its 200 day moving average price is $442.02. The stock has a market capitalization of $119.94 billion, a P/E ratio of 101.27 and a beta of 1.63. Spotify Technology S.A. has a 1-year low of $249.38 and a 1-year 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.