Harvest Fund Management Co. Ltd Increases Stake in Spotify Technology S.A. (NYSE:SPOT)

Harvest Fund Management Co. Ltd lifted its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 35.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,964 shares of the company’s stock after buying an additional 1,835 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Spotify Technology were worth $3,114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Prestige Wealth Management Group LLC bought a new stake in Spotify Technology during the third quarter worth about $26,000. Hobbs Group Advisors LLC bought a new stake in Spotify Technology during the third quarter worth about $33,000. Larson Financial Group LLC boosted 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 worth $36,000 after acquiring an additional 33 shares in the last quarter. Quent Capital LLC boosted its stake in Spotify Technology by 135.7% during the fourth quarter. Quent Capital LLC now owns 99 shares of the company’s stock worth $44,000 after acquiring an additional 57 shares in the last quarter. Finally, Noble Wealth Management PBC bought a new stake in Spotify Technology during the fourth quarter worth about $52,000. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Trading Down 4.7 %

Shares of SPOT stock opened at $569.63 on Wednesday. Spotify Technology S.A. has a 12 month low of $249.58 and a 12 month high of $652.63. The stock has a market cap of $116.61 billion, a P/E ratio of 95.74 and a beta of 1.66. The company has a 50 day simple moving average of $560.06 and a two-hundred day simple moving average of $464.55.

Analyst Ratings Changes

Several research firms recently commented on SPOT. Redburn Atlantic began coverage on shares of Spotify Technology in a research note on Tuesday, March 11th. They set a “neutral” rating and a $545.00 price objective on the stock. Macquarie boosted their price objective on shares of Spotify Technology from $500.00 to $600.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Barclays boosted their price objective on shares of Spotify Technology from $475.00 to $710.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Wolfe Research reiterated a “peer perform” rating on shares of Spotify Technology in a research note on Friday, January 17th. Finally, The Goldman Sachs Group upped their target price on shares of Spotify Technology from $550.00 to $695.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Eight equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $540.68.

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.