Tocqueville Asset Management L.P. Buys New Holdings in Spotify Technology S.A. (NYSE:SPOT)

Tocqueville Asset Management L.P. bought a new stake in Spotify Technology S.A. (NYSE:SPOT) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 467 shares of the company’s stock, valued at approximately $209,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Prestige Wealth Management Group LLC acquired a new position in Spotify Technology in the third quarter valued at $26,000. Hobbs Group Advisors LLC acquired a new position in Spotify Technology in the third quarter valued at $33,000. Larson Financial Group LLC boosted its holdings in Spotify Technology by 51.6% in 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 during the last quarter. Quent Capital LLC boosted its holdings in Spotify Technology by 135.7% in 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 during the last quarter. Finally, Noble Wealth Management PBC acquired a new position in Spotify Technology in the fourth quarter valued at $52,000. Institutional investors and hedge funds own 84.09% of the company’s stock.

Wall Street Analyst Weigh In

SPOT has been the topic of a number of recent research reports. Barclays boosted their price objective on Spotify Technology from $475.00 to $710.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Wolfe Research restated a “peer perform” rating on shares of Spotify Technology in a research note on Friday, January 17th. Guggenheim restated a “buy” rating and set a $675.00 price objective on shares of Spotify Technology in a research note on Monday, February 24th. KeyCorp boosted their price objective on Spotify Technology from $555.00 to $600.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Macquarie boosted their price objective on Spotify Technology from $500.00 to $600.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Eight investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, Spotify Technology has an average rating of “Moderate Buy” and a consensus target price of $540.68.

Spotify Technology Trading Up 1.1 %

NYSE:SPOT opened at $592.78 on Friday. The firm has a market capitalization of $121.35 billion, a PE ratio of 99.63 and a beta of 1.66. The stock has a 50 day moving average of $564.44 and a 200-day moving average of $466.28. Spotify Technology S.A. has a 52 week low of $257.56 and a 52 week 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.