Dark Forest Capital Management LP Acquires New Position in Spotify Technology S.A. (NYSE:SPOT)

Dark Forest Capital Management LP bought a new stake in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 692 shares of the company's stock, valued at approximately $310,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Auxano Advisors LLC raised its stake in shares of Spotify Technology by 2.5% in the fourth quarter. Auxano Advisors LLC now owns 828 shares of the company's stock valued at $370,000 after acquiring an additional 20 shares during the period. SRS Capital Advisors Inc. boosted its position 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 valued at $256,000 after buying an additional 25 shares during the period. First Horizon Advisors Inc. raised its holdings in shares of Spotify Technology by 5.4% in the fourth quarter. First Horizon Advisors Inc. now owns 504 shares of the company's stock worth $225,000 after buying an additional 26 shares during the period. Harbour Investments Inc. lifted its stake in shares of Spotify Technology by 13.3% during the 4th quarter. Harbour Investments Inc. now owns 222 shares of the company's stock worth $99,000 after acquiring an additional 26 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. boosted its holdings in 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. Hedge funds and other institutional investors own 84.09% of the company's stock.

Spotify Technology Price Performance

Shares of SPOT stock traded down $12.18 during trading hours on Thursday, reaching $601.80. 2,326,972 shares of the company's stock were exchanged, compared to its average volume of 2,149,795. Spotify Technology S.A. has a 1 year low of $283.39 and a 1 year high of $652.63. The company has a market cap of $123.19 billion, a P/E ratio of 101.14 and a beta of 1.75. The company's 50 day moving average is $569.30 and its two-hundred day moving average is $511.15.

Analysts Set New Price Targets

SPOT has been the subject of a number of research analyst reports. Evercore ISI decreased their price objective on shares of Spotify Technology from $700.00 to $650.00 and set an "outperform" rating for the company in a report on Wednesday. Robert W. Baird lifted their price objective on shares of Spotify Technology from $700.00 to $730.00 and gave the company an "outperform" rating in a report on Thursday. Canaccord Genuity Group boosted their target price on shares of Spotify Technology from $650.00 to $700.00 and gave the stock a "buy" rating in a report on Wednesday, February 5th. Wolfe Research raised shares of Spotify Technology from a "peer perform" rating to an "outperform" rating and set a $660.00 price objective on the stock in a research report on Monday, April 21st. Finally, JPMorgan Chase & Co. raised their price target on Spotify Technology from $640.00 to $670.00 and gave the stock an "overweight" rating in a report on Wednesday. Seven investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $606.71.

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.