3,500 Shares in Spotify Technology S.A. (NYSE:SPOT) Purchased by KP Management LLC

KP Management LLC bought a new stake in shares of Spotify Technology S.A. (NYSE:SPOT) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 3,500 shares of the company’s stock, valued at approximately $1,566,000.

A number of other large investors also recently made changes to their positions in the business. Hillsdale Investment Management Inc. acquired a new position in Spotify Technology in the 4th quarter worth about $27,000. Quent Capital LLC raised its position 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 acquiring an additional 57 shares in the last quarter. Noble Wealth Management PBC acquired a new stake in Spotify Technology in the fourth quarter valued at approximately $52,000. Larson Financial Group LLC grew its position in Spotify Technology by 48.5% in the fourth quarter. Larson Financial Group LLC now owns 144 shares of the company’s stock worth $64,000 after acquiring an additional 47 shares in the last quarter. Finally, Versant Capital Management Inc increased its stake in shares of Spotify Technology by 89.9% during the 4th quarter. Versant Capital Management Inc now owns 150 shares of the company’s stock worth $67,000 after purchasing an additional 71 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on SPOT. Benchmark lifted their price objective on shares of Spotify Technology from $600.00 to $720.00 and gave the company a “buy” rating in a research note on Wednesday, February 5th. Guggenheim reiterated a “buy” rating and set a $675.00 price target on shares of Spotify Technology in a research note on Monday, February 24th. Redburn Atlantic initiated coverage on Spotify Technology in a research note on Tuesday, March 11th. They issued a “neutral” rating and a $545.00 price objective on the stock. UBS Group decreased their target price on Spotify Technology from $690.00 to $680.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Finally, The Goldman Sachs Group lifted their price target on shares of Spotify Technology from $550.00 to $695.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Seven analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, Spotify Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $596.26.

Spotify Technology Price Performance

Spotify Technology stock opened at $621.16 on Friday. The firm has a market capitalization of $127.16 billion, a P/E ratio of 104.40 and a beta of 1.75. The stock has a fifty day moving average price of $571.23 and a two-hundred day moving average price of $507.49. Spotify Technology S.A. has a 52-week low of $280.37 and a 52-week high of $652.63.

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.