Jump Financial LLC Takes Position in Spotify Technology S.A. (NYSE:SPOT)

Jump Financial LLC purchased a new position in shares of Spotify Technology S.A. (NYSE:SPOT) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,720 shares of the company’s stock, valued at approximately $9,717,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SPOT. Auxano Advisors LLC increased its holdings in Spotify Technology by 2.5% in the 4th quarter. Auxano Advisors LLC now owns 828 shares of the company’s stock worth $370,000 after acquiring an additional 20 shares in the last quarter. SRS Capital Advisors Inc. increased its stake in shares of Spotify Technology by 4.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 573 shares of the company’s stock worth $256,000 after purchasing an additional 25 shares in the last quarter. First Horizon Advisors Inc. raised its position in shares of Spotify Technology by 5.4% during the 4th quarter. First Horizon Advisors Inc. now owns 504 shares of the company’s stock worth $225,000 after purchasing an additional 26 shares during the last quarter. Harbour Investments Inc. lifted its stake in Spotify Technology by 13.3% in the 4th quarter. Harbour Investments Inc. now owns 222 shares of the company’s stock valued at $99,000 after buying an additional 26 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. boosted its holdings in Spotify Technology by 1.9% in the 4th quarter. Cookson Peirce & Co. Inc. now owns 1,467 shares of the company’s stock worth $656,000 after buying an additional 27 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Price Performance

NYSE SPOT opened at $572.45 on Wednesday. The company has a market cap of $117.18 billion, a P/E ratio of 96.21 and a beta of 1.75. The stock has a 50-day moving average of $579.17 and a two-hundred day moving average of $495.60. Spotify Technology S.A. has a 1-year low of $267.76 and a 1-year high of $652.63.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Morgan Stanley increased their target price on Spotify Technology from $550.00 to $670.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Macquarie raised their price objective on Spotify Technology from $500.00 to $600.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Wells Fargo & Company upped their target price on shares of Spotify Technology from $690.00 to $740.00 and gave the stock an “overweight” rating in a report on Friday, March 28th. The Goldman Sachs Group raised their price target on shares of Spotify Technology from $550.00 to $695.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Finally, KeyCorp lowered their price target on shares of Spotify Technology from $675.00 to $625.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th. Nine investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $563.07.

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.