Hillsdale Investment Management Inc. Invests $27,000 in Spotify Technology S.A. (NYSE:SPOT)

Hillsdale Investment Management Inc. acquired a new stake in Spotify Technology S.A. (NYSE:SPOT) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 60 shares of the company’s stock, valued at approximately $27,000.

A number of other hedge funds and other institutional investors have also modified their holdings of SPOT. Prestige Wealth Management Group LLC purchased a new position in shares of Spotify Technology in the 3rd quarter valued at $26,000. Hobbs Group Advisors LLC bought a new stake in Spotify Technology during the 3rd quarter valued at $33,000. Larson Financial Group LLC boosted its holdings in shares of 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 acquiring an additional 33 shares in the last quarter. Quent Capital LLC lifted its holdings in Spotify Technology by 135.7% in the 4th quarter. Quent Capital LLC now owns 99 shares of the company’s stock valued at $44,000 after acquiring an additional 57 shares during the last quarter. Finally, Noble Wealth Management PBC acquired a new position in shares of Spotify Technology in the 4th quarter worth $52,000. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Spotify Technology Price Performance

Shares of SPOT stock opened at $615.84 on Wednesday. The stock’s fifty day simple moving average is $573.25 and its 200 day simple moving average is $474.03. Spotify Technology S.A. has a one year low of $257.56 and a one year high of $652.63. The firm has a market cap of $126.07 billion, a price-to-earnings ratio of 103.50 and a beta of 1.66.

Analyst Ratings Changes

A number of research analysts have commented on the company. Wells Fargo & Company boosted their target price on Spotify Technology from $520.00 to $690.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Canaccord Genuity Group raised their price objective on shares of Spotify Technology from $650.00 to $700.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. Barclays increased their price target 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. Citigroup upped their price objective on shares of Spotify Technology from $540.00 to $720.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Finally, JPMorgan Chase & Co. boosted their price target on Spotify Technology from $555.00 to $730.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Eight research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $540.68.

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.