Natural Investments LLC Acquires Shares of 655 Spotify Technology S.A. (NYSE:SPOT)

Natural Investments LLC bought a new position in shares of Spotify Technology S.A. (NYSE:SPOT) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 655 shares of the company’s stock, valued at approximately $292,000.

A number of other hedge funds have also modified their holdings of the business. Prestige Wealth Management Group LLC acquired a new position in Spotify Technology during the third quarter worth about $26,000. Hobbs Group Advisors LLC acquired a new position in shares of Spotify Technology during the 3rd quarter worth approximately $33,000. Larson Financial Group LLC grew its position 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 purchasing an additional 33 shares in the last quarter. Rakuten Securities Inc. lifted its position in 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 buying 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 worth $44,000 after buying an additional 57 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on SPOT shares. Canaccord Genuity Group raised their target price on Spotify Technology from $650.00 to $700.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. Citigroup lifted their target price on shares of Spotify Technology from $540.00 to $720.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Morgan Stanley increased their price target 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. 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. Finally, Guggenheim reiterated a “buy” rating and issued a $675.00 price objective on shares of Spotify Technology in a report on Monday, February 24th. Eight equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, Spotify Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $540.68.

Spotify Technology Trading Up 5.6 %

NYSE:SPOT opened at $536.87 on Thursday. The stock has a fifty day moving average price of $551.54 and a 200 day moving average price of $457.20. Spotify Technology S.A. has a 12-month low of $249.58 and a 12-month high of $652.63. The firm has a market cap of $109.90 billion, a PE ratio of 90.23 and a beta of 1.66.

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.