IHT Wealth Management LLC Buys Shares of 466 Spotify Technology S.A. (NYSE:SPOT)

IHT Wealth Management LLC acquired a new stake in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 466 shares of the company's stock, valued at approximately $208,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Hillsdale Investment Management Inc. bought a new stake in shares of Spotify Technology during the fourth quarter worth $27,000. 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. Noble Wealth Management PBC acquired a new stake in Spotify Technology in the fourth quarter worth about $52,000. Strategic Financial Concepts LLC bought a new stake in Spotify Technology during the 4th quarter worth about $56,000. Finally, Larson Financial Group LLC lifted its position in Spotify Technology by 48.5% during the 4th quarter. Larson Financial Group LLC now owns 144 shares of the company's stock valued at $64,000 after purchasing an additional 47 shares during the period. Institutional investors and hedge funds own 84.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Canaccord Genuity Group upped their price target on Spotify Technology from $650.00 to $700.00 and gave the company a "buy" rating in a research note on Wednesday, February 5th. JPMorgan Chase & Co. increased their price target on Spotify Technology from $640.00 to $670.00 and gave the stock an "overweight" rating in a report on Wednesday. Morgan Stanley lifted their price objective on Spotify Technology from $550.00 to $670.00 and gave the company an "overweight" rating in a report on Wednesday, February 5th. FBN Securities initiated coverage on Spotify Technology in a research note on Friday, March 28th. They set a "sector perform" rating and a $645.00 target price for the company. Finally, UBS Group reduced their price target on shares of Spotify Technology from $690.00 to $680.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Eight research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat, Spotify Technology has an average rating of "Moderate Buy" and a consensus price target of $604.76.

Spotify Technology Stock Performance

SPOT traded up $40.51 on Friday, reaching $642.77. The company had a trading volume of 4,848,856 shares, compared to its average volume of 2,159,957. The company has a market cap of $131.58 billion, a price-to-earnings ratio of 108.03 and a beta of 1.75. The business has a 50 day simple moving average of $569.30 and a 200 day simple moving average of $512.73. Spotify Technology S.A. has a 52-week low of $283.39 and a 52-week high of $652.94.

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.