TD Asset Management Inc. Increases Position in Spotify Technology S.A. (NYSE:SPOT)

TD Asset Management Inc. raised its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 3.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 252,714 shares of the company’s stock after purchasing an additional 9,472 shares during the period. TD Asset Management Inc.’s holdings in Spotify Technology were worth $113,059,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in SPOT. Prestige Wealth Management Group LLC bought a new position in Spotify Technology during the 3rd quarter valued at approximately $26,000. Hillsdale Investment Management Inc. bought a new position in shares of Spotify Technology during the fourth quarter valued at $27,000. Hobbs Group Advisors LLC purchased a new position in shares of Spotify Technology in the 3rd quarter worth about $33,000. Larson Financial Group LLC boosted its stake in Spotify Technology by 51.6% in the 3rd 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. Finally, Quent Capital LLC grew its position in Spotify Technology by 135.7% during the 4th quarter. Quent Capital LLC now owns 99 shares of the company’s stock valued at $44,000 after purchasing an additional 57 shares during the last quarter. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Spotify Technology Stock Up 1.8 %

SPOT stock opened at $615.84 on Wednesday. The business’s 50-day moving average price is $573.25 and its 200-day moving average price is $474.03. The stock has a market cap of $126.07 billion, a P/E ratio of 103.50 and a beta of 1.66. Spotify Technology S.A. has a twelve month low of $257.56 and a twelve month high of $652.63.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SPOT. JPMorgan Chase & Co. upped their target price on shares of Spotify Technology from $555.00 to $730.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Wolfe Research reaffirmed a “peer perform” rating on shares of Spotify Technology in a research report on Friday, January 17th. Rosenblatt Securities reiterated a “neutral” rating and set a $658.00 target price (up from $473.00) on shares of Spotify Technology in a research note on Wednesday, February 5th. Redburn Atlantic started coverage on Spotify Technology in a research note on Tuesday, March 11th. They issued a “neutral” rating and a $545.00 price target for the company. Finally, The Goldman Sachs Group upped their price target on Spotify Technology from $550.00 to $695.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Eight investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.