C WorldWide Group Holding A S Makes New $2.60 Million Investment in Spotify Technology S.A. (NYSE:SPOT)

C WorldWide Group Holding A S bought a new position in shares of Spotify Technology S.A. (NYSE:SPOT) in the 4th quarter, Holdings Channel.com reports. The firm bought 5,800 shares of the company’s stock, valued at approximately $2,595,000.

Several other institutional investors have also recently made changes to their positions in SPOT. Prestige Wealth Management Group LLC purchased a new stake in shares of Spotify Technology during the third quarter worth about $26,000. Hobbs Group Advisors LLC purchased a new stake in shares of Spotify Technology during the third quarter worth about $33,000. Larson Financial Group LLC grew its position in shares of 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 purchasing an additional 33 shares in the last quarter. Rakuten Securities Inc. grew its position in shares of Spotify Technology by 40.5% during the third quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock worth $41,000 after purchasing an additional 32 shares in the last quarter. Finally, 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 valued at $44,000 after buying an additional 57 shares during the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Performance

Shares of SPOT stock opened at $606.98 on Monday. Spotify Technology S.A. has a 52-week low of $243.99 and a 52-week high of $652.63. The firm has a market capitalization of $120.82 billion, a P/E ratio of 102.01 and a beta of 1.63. The stock has a 50 day moving average price of $523.55 and a 200 day moving average price of $437.29.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Wolfe Research reissued a “peer perform” rating on shares of Spotify Technology in a research note on Friday, January 17th. Macquarie increased their price target on Spotify Technology from $500.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. increased their price target on Spotify Technology from $555.00 to $730.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. UBS Group increased their price target on Spotify Technology from $485.00 to $540.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Finally, Citigroup increased their price target on Spotify Technology from $540.00 to $720.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $529.43.

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.