1,496 Shares in Spotify Technology S.A. (NYSE:SPOT) Purchased by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in shares of Spotify Technology S.A. (NYSE:SPOT) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,496 shares of the company’s stock, valued at approximately $669,000.

Several other hedge funds also recently modified their holdings of SPOT. Prestige Wealth Management Group LLC acquired a new position in Spotify Technology in the third quarter valued at approximately $26,000. Hillsdale Investment Management Inc. bought a new stake in shares of Spotify Technology during the 4th quarter valued at $27,000. Hobbs Group Advisors LLC acquired a new position in shares of Spotify Technology in the 3rd quarter valued at $33,000. Larson Financial Group LLC boosted its position in shares of Spotify Technology by 51.6% in the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock worth $36,000 after purchasing an additional 33 shares during the last quarter. Finally, Quent Capital LLC grew its stake in shares of 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 purchasing an additional 57 shares during the period. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Price Performance

Shares of NYSE SPOT opened at $559.76 on Friday. The business has a 50-day moving average of $578.28 and a 200-day moving average of $477.12. The stock has a market capitalization of $114.59 billion, a price-to-earnings ratio of 94.08 and a beta of 1.66. Spotify Technology S.A. has a fifty-two week low of $260.80 and a fifty-two week high of $652.63.

Analyst Ratings Changes

Several research firms have weighed in on SPOT. Redburn Atlantic initiated coverage on Spotify Technology in a research note on Tuesday, March 11th. They issued a “neutral” rating and a $545.00 target price on the stock. Benchmark lifted their price objective on shares of Spotify Technology from $600.00 to $720.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. The Goldman Sachs Group boosted their price objective on shares of Spotify Technology from $550.00 to $695.00 and gave the company a “buy” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. increased their target price on shares of Spotify Technology from $555.00 to $730.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Finally, Macquarie boosted their price target on shares of Spotify Technology from $500.00 to $600.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Nine investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $552.47.

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.