Impact Capital Partners LLC Buys Shares of 642 Spotify Technology S.A. (NYSE:SPOT)

Impact Capital Partners LLC bought a new stake in Spotify Technology S.A. (NYSE:SPOT) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 642 shares of the company’s stock, valued at approximately $287,000.

A number of other hedge funds also recently added to or reduced their stakes in SPOT. Prestige Wealth Management Group LLC bought a new stake in Spotify Technology in the third quarter valued at $26,000. Hobbs Group Advisors LLC bought a new stake in Spotify Technology in the third quarter valued at $33,000. Larson Financial Group LLC lifted its stake in Spotify Technology by 51.6% in the third quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock valued at $36,000 after buying an additional 33 shares during the last quarter. Quent Capital LLC lifted its stake in Spotify Technology by 135.7% in the fourth quarter. Quent Capital LLC now owns 99 shares of the company’s stock valued at $44,000 after buying an additional 57 shares during the last quarter. Finally, Noble Wealth Management PBC bought a new stake in Spotify Technology in the fourth quarter valued at $52,000. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Price Performance

NYSE:SPOT opened at $539.11 on Friday. Spotify Technology S.A. has a fifty-two week low of $249.58 and a fifty-two week high of $652.63. The stock’s 50-day moving average is $553.16 and its two-hundred day moving average is $457.77. The stock has a market cap of $110.36 billion, a PE ratio of 90.61 and a beta of 1.66.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SPOT. Cantor Fitzgerald reiterated a “neutral” rating and issued a $480.00 target price (down from $490.00) on shares of Spotify Technology in a research note on Tuesday, January 28th. Redburn Atlantic started coverage on shares of Spotify Technology in a research note on Tuesday. They set a “neutral” rating and a $545.00 price objective on the stock. The Goldman Sachs Group lifted their price objective on shares of Spotify Technology from $550.00 to $695.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Wolfe Research restated a “peer perform” rating on shares of Spotify Technology in a research note on Friday, January 17th. Finally, Morgan Stanley lifted their price objective on shares of Spotify Technology from $550.00 to $670.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Eight research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $540.68.

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.