628 Shares in Spotify Technology S.A. (NYSE:SPOT) Bought by Proficio Capital Partners LLC

Proficio Capital Partners LLC acquired a new stake in Spotify Technology S.A. (NYSE:SPOT) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 628 shares of the company’s stock, valued at approximately $281,000.

A number of other hedge funds have also recently made changes to their positions in the business. Prestige Wealth Management Group LLC purchased a new stake in shares of Spotify Technology during the 3rd quarter worth approximately $26,000. Hobbs Group Advisors LLC purchased a new position in shares of Spotify Technology during the third quarter worth approximately $33,000. Larson Financial Group LLC lifted its stake in Spotify Technology by 51.6% in the third quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock worth $36,000 after acquiring an additional 33 shares during the period. Quent Capital LLC increased its holdings in 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 buying an additional 57 shares during the period. Finally, Noble Wealth Management PBC bought a new position in shares of Spotify Technology in the 4th quarter worth $52,000. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Performance

Shares of SPOT stock opened at $576.86 on Thursday. Spotify Technology S.A. has a 1 year low of $257.56 and a 1 year high of $652.63. The stock’s 50-day moving average is $575.00 and its two-hundred day moving average is $474.75. The firm has a market cap of $118.09 billion, a price-to-earnings ratio of 96.95 and a beta of 1.66.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Rosenblatt Securities reissued a “neutral” rating and issued a $658.00 price objective (up previously from $473.00) on shares of Spotify Technology in a research report on Wednesday, February 5th. Canaccord Genuity Group upped their target price on Spotify Technology from $650.00 to $700.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. The Goldman Sachs Group upped their target price on shares of Spotify Technology from $550.00 to $695.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Morgan Stanley lifted their target price on shares of Spotify Technology from $550.00 to $670.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Finally, UBS Group lifted their price target on shares of Spotify Technology from $485.00 to $540.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Eight research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat.com, Spotify Technology has an average rating of “Moderate Buy” and a consensus price target of $547.55.

Spotify Technology Company 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.