K.J. Harrison & Partners Inc Purchases 5,000 Shares of Spotify Technology S.A. (NYSE:SPOT)

K.J. Harrison & Partners Inc increased its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 100.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,000 shares of the company’s stock after purchasing an additional 5,000 shares during the period. K.J. Harrison & Partners Inc’s holdings in Spotify Technology were worth $4,578,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Aigen Investment Management LP raised its holdings in Spotify Technology by 42.4% during the third quarter. Aigen Investment Management LP now owns 9,800 shares of the company’s stock valued at $3,612,000 after acquiring an additional 2,918 shares during the period. Jennison Associates LLC purchased a new position in Spotify Technology in the 4th quarter worth approximately $1,335,575,000. Marks Group Wealth Management Inc bought a new position in Spotify Technology in the 4th quarter worth approximately $535,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in Spotify Technology during the 4th quarter valued at approximately $214,000. Finally, Pathway Capital Management LP raised its position in shares of Spotify Technology by 23.8% during the third quarter. Pathway Capital Management LP now owns 57,340 shares of the company’s stock valued at $21,132,000 after buying an additional 11,042 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Benchmark upped their target price on shares of Spotify Technology from $600.00 to $720.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. Guggenheim reissued a “buy” rating and set a $675.00 price objective on shares of Spotify Technology in a report on Monday. Pivotal Research lifted their target price on Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Cantor Fitzgerald reissued a “neutral” rating and set a $480.00 price target (down from $490.00) on shares of Spotify Technology in a research note on Tuesday, January 28th. Finally, KeyCorp raised their price target on Spotify Technology from $555.00 to $600.00 and gave the company an “overweight” rating in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $529.43.

Spotify Technology Stock Performance

Shares of SPOT stock opened at $602.53 on Thursday. The stock has a 50 day moving average price of $531.23 and a 200 day moving average price of $442.02. Spotify Technology S.A. has a 52-week low of $249.38 and a 52-week high of $652.63. The firm has a market capitalization of $119.94 billion, a P/E ratio of 101.27 and a beta of 1.63.

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.