Spotify Technology S.A. (NYSE:SPOT) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 108.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 150,804 shares of the company’s stock after acquiring an additional 78,499 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.08% of Spotify Technology worth $67,467,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Prestige Wealth Management Group LLC acquired a new position in shares of Spotify Technology during the third quarter valued at about $26,000. Hobbs Group Advisors LLC acquired a new position in shares of Spotify Technology during the third quarter valued at about $33,000. Larson Financial Group LLC increased its holdings in shares of Spotify Technology by 51.6% during the third quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock valued at $36,000 after acquiring an additional 33 shares in the last quarter. Rakuten Securities Inc. increased its holdings in shares of Spotify Technology by 40.5% during the third quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock valued at $41,000 after acquiring an additional 32 shares in the last quarter. Finally, Quent Capital LLC increased its holdings in shares of Spotify Technology by 135.7% during the fourth quarter. Quent Capital LLC now owns 99 shares of the company’s stock valued at $44,000 after acquiring an additional 57 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SPOT. JPMorgan Chase & Co. upped their target price on Spotify Technology from $555.00 to $730.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Redburn Atlantic began coverage on Spotify Technology in a research report on Tuesday. They issued a “neutral” rating and a $545.00 target price on the stock. The Goldman Sachs Group upped their target price on Spotify Technology from $550.00 to $695.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Morgan Stanley upped their target price on Spotify Technology from $550.00 to $670.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Finally, UBS Group upped their target price on Spotify Technology from $485.00 to $540.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Eight equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $540.68.

Spotify Technology Stock Performance

NYSE SPOT opened at $507.66 on Wednesday. The business has a fifty day moving average price of $549.75 and a 200 day moving average price of $456.64. Spotify Technology S.A. has a one year low of $249.58 and a one year high of $652.63. The company has a market cap of $103.92 billion, a P/E ratio of 85.32 and a beta of 1.66.

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.