Oberweis Asset Management Inc. Invests $1.03 Million in Spotify Technology S.A. (NYSE:SPOT)

Oberweis Asset Management Inc. acquired 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 filing with the Securities and Exchange Commission (SEC). The firm acquired 2,300 shares of the company's stock, valued at approximately $1,029,000.

Several other hedge funds have also recently modified their holdings of the stock. Hancock Whitney Corp purchased a new stake in Spotify Technology in the 4th quarter worth $373,000. Science & Technology Partners L.P. purchased a new stake in shares of Spotify Technology in the fourth quarter worth about $25,200,000. Voya Investment Management LLC boosted its stake in Spotify Technology by 24.4% during the fourth quarter. Voya Investment Management LLC now owns 277,341 shares of the company's stock valued at $124,038,000 after buying an additional 54,454 shares during the last quarter. Integrated Wealth Concepts LLC grew its holdings in Spotify Technology by 10.9% during the 4th quarter. Integrated Wealth Concepts LLC now owns 1,933 shares of the company's stock valued at $865,000 after buying an additional 190 shares in the last quarter. Finally, Beck Capital Management LLC increased its stake in Spotify Technology by 0.8% in the 4th quarter. Beck Capital Management LLC now owns 11,161 shares of the company's stock worth $4,993,000 after acquiring an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 84.09% of the company's stock.

Spotify Technology Stock Performance

SPOT stock traded up $22.84 during trading on Wednesday, reaching $599.78. 2,303,898 shares of the company traded hands, compared to its average volume of 2,135,725. The company has a market capitalization of $122.78 billion, a price-to-earnings ratio of 100.80 and a beta of 1.75. The business has a 50 day simple moving average of $569.14 and a 200 day simple moving average of $510.43. Spotify Technology S.A. has a 12 month low of $280.37 and a 12 month high of $652.63.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Cantor Fitzgerald lowered their target price on Spotify Technology from $600.00 to $520.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Citigroup increased their price objective on shares of Spotify Technology from $540.00 to $720.00 and gave the company a "neutral" rating in a research report on Friday, February 14th. Barclays upped their target price on shares of Spotify Technology from $475.00 to $710.00 and gave the company an "overweight" rating in a research report on Wednesday, February 5th. JPMorgan Chase & Co. dropped their price target on Spotify Technology from $730.00 to $640.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, Evercore ISI reduced their price objective on Spotify Technology from $700.00 to $650.00 and set an "outperform" rating on the stock in a research note on Wednesday. Seven equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $603.26.

Spotify Technology 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.