OPTIMAS CAPITAL Ltd Acquires 1,000 Shares of Spotify Technology S.A. (NYSE:SPOT)

OPTIMAS CAPITAL Ltd lifted its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 17.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,800 shares of the company’s stock after acquiring an additional 1,000 shares during the quarter. Spotify Technology makes up about 4.1% of OPTIMAS CAPITAL Ltd’s portfolio, making the stock its 11th biggest holding. OPTIMAS CAPITAL Ltd’s holdings in Spotify Technology were worth $3,042,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Auxano Advisors LLC boosted its stake in Spotify Technology by 2.5% in the 4th quarter. Auxano Advisors LLC now owns 828 shares of the company’s stock valued at $370,000 after purchasing an additional 20 shares during the period. SRS Capital Advisors Inc. boosted its stake in Spotify Technology by 4.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 573 shares of the company’s stock valued at $256,000 after purchasing an additional 25 shares during the period. First Horizon Advisors Inc. lifted its position in shares of Spotify Technology by 5.8% during the 3rd quarter. First Horizon Advisors Inc. now owns 478 shares of the company’s stock valued at $176,000 after acquiring an additional 26 shares during the period. Harbour Investments Inc. lifted its position in shares of Spotify Technology by 13.3% during the 4th quarter. Harbour Investments Inc. now owns 222 shares of the company’s stock valued at $99,000 after acquiring an additional 26 shares during the period. Finally, Cookson Peirce & Co. Inc. lifted its position in shares of Spotify Technology by 1.9% during the 4th quarter. Cookson Peirce & Co. Inc. now owns 1,467 shares of the company’s stock valued at $656,000 after acquiring an additional 27 shares during the period. 84.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Wolfe Research reiterated a “peer perform” rating on shares of Spotify Technology in a research report on Friday, January 17th. Canaccord Genuity Group upped their target price on Spotify Technology from $650.00 to $700.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. 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. Benchmark upped their target price on Spotify Technology from $600.00 to $720.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. Finally, 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 report on Wednesday, February 5th. Eight equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $540.68.

Spotify Technology Trading Up 4.0 %

Shares of SPOT stock opened at $597.78 on Tuesday. The stock has a market cap of $122.37 billion, a price-to-earnings ratio of 100.47 and a beta of 1.66. The stock has a 50-day moving average of $557.92 and a 200-day moving average of $462.95. Spotify Technology S.A. has a 1-year low of $249.58 and a 1-year high of $652.63.

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.