Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Spotify Technology S.A. (NYSE:SPOT – Free Report) in the 1st quarter, Holdings Channel reports. The firm acquired 814 shares of the company’s stock, valued at approximately $215,000.
Several other hedge funds also recently modified their holdings of SPOT. Evoke Wealth LLC bought a new position in Spotify Technology in the fourth quarter valued at about $2,271,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Spotify Technology by 30.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 79,667 shares of the company’s stock worth $21,024,000 after purchasing an additional 18,731 shares during the period. Franklin Resources Inc. raised its position in shares of Spotify Technology by 1,500.5% during the fourth quarter. Franklin Resources Inc. now owns 70,151 shares of the company’s stock worth $13,182,000 after purchasing an additional 65,768 shares during the period. TD Asset Management Inc raised its position in shares of Spotify Technology by 2.4% during the first quarter. TD Asset Management Inc now owns 512,841 shares of the company’s stock worth $135,339,000 after purchasing an additional 12,192 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in Spotify Technology by 327.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 391,253 shares of the company’s stock valued at $73,520,000 after buying an additional 299,700 shares during the last quarter. 84.09% of the stock is owned by institutional investors.
Spotify Technology Price Performance
Shares of NYSE SPOT opened at $321.87 on Friday. The stock has a market cap of $64.07 billion, a PE ratio of -480.40, a price-to-earnings-growth ratio of 0.76 and a beta of 1.59. Spotify Technology S.A. has a fifty-two week low of $129.23 and a fifty-two week high of $346.23. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.42 and a current ratio of 1.56. The stock has a fifty day moving average of $310.88 and a 200-day moving average of $276.89.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on the company. Raymond James lifted their target price on Spotify Technology from $260.00 to $320.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. KeyCorp boosted their price target on Spotify Technology from $400.00 to $410.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Jefferies Financial Group reaffirmed a “buy” rating and set a $385.00 price target (up previously from $242.00) on shares of Spotify Technology in a research report on Thursday, July 11th. HSBC upped their price objective on Spotify Technology from $310.00 to $355.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, The Goldman Sachs Group raised Spotify Technology from a “neutral” rating to a “buy” rating and upped their price objective for the company from $320.00 to $425.00 in a report on Wednesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $353.15.
Check Out Our Latest Stock Analysis on SPOT
About Spotify Technology
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.
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