Martingale Asset Management L P Has $329,000 Position in Spotify Technology S.A. (NYSE:SPOT)

Martingale Asset Management L P lifted its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 13.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 735 shares of the company’s stock after purchasing an additional 86 shares during the period. Martingale Asset Management L P’s holdings in Spotify Technology were worth $329,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hillsdale Investment Management Inc. acquired a new position in Spotify Technology during the fourth quarter worth approximately $27,000. Quent Capital LLC boosted its stake in shares of Spotify Technology by 135.7% during the 4th quarter. Quent Capital LLC now owns 99 shares of the company’s stock worth $44,000 after acquiring an additional 57 shares during the period. Noble Wealth Management PBC acquired a new position in shares of Spotify Technology during the 4th quarter worth approximately $52,000. Strategic Financial Concepts LLC bought a new stake in Spotify Technology in the 4th quarter valued at $56,000. Finally, Larson Financial Group LLC lifted its holdings in Spotify Technology by 48.5% during the 4th quarter. Larson Financial Group LLC now owns 144 shares of the company’s stock valued at $64,000 after purchasing an additional 47 shares during the last quarter. 84.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SPOT has been the topic of several research reports. JPMorgan Chase & Co. decreased their price objective on shares of Spotify Technology from $730.00 to $640.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Canaccord Genuity Group increased their price target on shares of Spotify Technology from $650.00 to $700.00 and gave the company a “buy” rating in a report on Wednesday, February 5th. Benchmark boosted their price objective on Spotify Technology from $600.00 to $720.00 and gave the stock a “buy” rating in a report on Wednesday, February 5th. Macquarie increased their target price on Spotify Technology from $500.00 to $600.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Finally, Guggenheim restated a “buy” rating and issued a $675.00 price target on shares of Spotify Technology in a research note on Monday, February 24th. Nine analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat.com, Spotify Technology presently has an average rating of “Moderate Buy” and an average price target of $555.30.

Spotify Technology Price Performance

Shares of NYSE:SPOT opened at $543.24 on Monday. The firm has a 50 day simple moving average of $581.80 and a 200 day simple moving average of $493.82. The company has a market cap of $111.21 billion, a price-to-earnings ratio of 91.30 and a beta of 1.75. Spotify Technology S.A. has a one year low of $267.76 and a one year 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.