OPTIMAS CAPITAL Ltd Acquires 1,000 Shares of Spotify Technology S.A. (NYSE:SPOT)

OPTIMAS CAPITAL Ltd lifted its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 17.2% during the 4th quarter, Holdings Channel reports. The firm owned 6,800 shares of the company’s stock after purchasing an additional 1,000 shares during the quarter. Spotify Technology comprises 4.1% of OPTIMAS CAPITAL Ltd’s holdings, making the stock its 11th largest position. OPTIMAS CAPITAL Ltd’s holdings in Spotify Technology were worth $3,042,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Generali Asset Management SPA SGR bought a new stake in shares of Spotify Technology during the 4th quarter valued at about $654,000. Thrivent Financial for Lutherans boosted its position in shares of Spotify Technology by 566.1% during the 4th quarter. Thrivent Financial for Lutherans now owns 7,980 shares of the company’s stock valued at $3,541,000 after purchasing an additional 6,782 shares in the last quarter. PDS Planning Inc bought a new stake in shares of Spotify Technology during the 4th quarter valued at about $291,000. Petra Financial Advisors Inc. boosted its position in shares of Spotify Technology by 2.2% during the 4th quarter. Petra Financial Advisors Inc. now owns 1,562 shares of the company’s stock valued at $699,000 after purchasing an additional 34 shares in the last quarter. Finally, Primecap Management Co. CA bought a new position in Spotify Technology in the fourth quarter worth approximately $98,334,000. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Price Performance

Spotify Technology stock opened at $597.78 on Tuesday. Spotify Technology S.A. has a one year low of $249.58 and a one year high of $652.63. The business has a fifty day moving average price of $557.92 and a 200-day moving average price of $462.95. The firm has a market capitalization of $122.37 billion, a P/E ratio of 100.47 and a beta of 1.66.

Analysts Set New Price Targets

Several research analysts have issued reports on SPOT shares. Macquarie increased their price target on Spotify Technology from $500.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Guggenheim reissued a “buy” rating and issued a $675.00 price objective on shares of Spotify Technology in a research note on Monday, February 24th. Barclays increased their price objective on Spotify Technology from $475.00 to $710.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Canaccord Genuity Group increased their price objective on Spotify Technology from $650.00 to $700.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. Finally, Benchmark increased their price target on Spotify Technology from $600.00 to $720.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. Eight research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, Spotify Technology has a consensus rating of “Moderate Buy” and an average price target of $540.68.

Spotify Technology 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.