311 Shares in Spotify Technology S.A. (NYSE:SPOT) Purchased by Hurley Capital LLC

Hurley Capital 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 filing with the Securities & Exchange Commission. The firm bought 311 shares of the company’s stock, valued at approximately $145,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Prestige Wealth Management Group LLC purchased a new position in Spotify Technology during the 3rd quarter valued at about $26,000. Hillsdale Investment Management Inc. purchased a new position in shares of Spotify Technology during the 4th quarter valued at $27,000. Hobbs Group Advisors LLC bought a new position in shares of Spotify Technology in the third quarter worth $33,000. Quent Capital LLC raised its position in shares of Spotify Technology by 135.7% in the fourth quarter. Quent Capital LLC now owns 99 shares of the company’s stock worth $44,000 after buying an additional 57 shares in the last quarter. Finally, Noble Wealth Management PBC bought a new stake in Spotify Technology during the fourth quarter valued at $52,000. Institutional investors own 84.09% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SPOT. Wolfe Research reiterated a “peer perform” rating on shares of Spotify Technology in a research report on Friday, January 17th. Rosenblatt Securities restated a “neutral” rating and set a $658.00 price objective (up previously from $473.00) on shares of Spotify Technology in a research report on Wednesday, February 5th. KeyCorp raised their price target on Spotify Technology from $555.00 to $600.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Guggenheim reissued a “buy” rating and set a $675.00 price objective on shares of Spotify Technology in a report on Monday, February 24th. Finally, JPMorgan Chase & Co. increased their price target on shares of Spotify Technology from $555.00 to $730.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Nine investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat, Spotify Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $557.47.

Spotify Technology Price Performance

SPOT stock opened at $502.90 on Friday. The company has a market cap of $102.95 billion, a P/E ratio of 84.52 and a beta of 1.75. Spotify Technology S.A. has a 1 year low of $267.76 and a 1 year high of $652.63. The stock’s fifty day moving average price is $583.28 and its 200-day moving average price is $484.42.

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.