Tocqueville Asset Management L.P. Takes $209,000 Position in Spotify Technology S.A. (NYSE:SPOT)

Tocqueville Asset Management L.P. bought a new stake in shares of Spotify Technology S.A. (NYSE:SPOT) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 467 shares of the company’s stock, valued at approximately $209,000.

Several other hedge funds and other institutional investors have also made changes to their positions in SPOT. Prestige Wealth Management Group LLC acquired a new position in shares of Spotify Technology during the third quarter worth approximately $26,000. Hobbs Group Advisors LLC acquired a new position in shares of Spotify Technology during the third quarter worth approximately $33,000. Larson Financial Group LLC boosted its position 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 worth $36,000 after buying an additional 33 shares during the period. Quent Capital LLC boosted its position in shares of Spotify Technology by 135.7% during the fourth quarter. Quent Capital LLC now owns 99 shares of the company’s stock worth $44,000 after buying an additional 57 shares during the period. Finally, Noble Wealth Management PBC acquired a new position in shares of Spotify Technology during the fourth quarter worth approximately $52,000. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Stock Up 1.1 %

Shares of NYSE:SPOT opened at $592.78 on Friday. The company’s fifty day moving average is $564.44 and its two-hundred day moving average is $466.28. Spotify Technology S.A. has a 12-month low of $257.56 and a 12-month high of $652.63. The company has a market cap of $121.35 billion, a P/E ratio of 99.63 and a beta of 1.66.

Analyst Ratings Changes

SPOT has been the subject of a number of research analyst reports. 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 report on Wednesday, February 5th. Barclays upped their target price on Spotify Technology from $475.00 to $710.00 and gave the stock an “overweight” 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 stock an “overweight” rating in a research report on Wednesday, February 5th. Morgan Stanley upped their target price on Spotify Technology from $550.00 to $670.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Finally, Macquarie upped their target price on Spotify Technology from $500.00 to $600.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Eight analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $540.68.

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.