TD Waterhouse Canada Inc. Raises Stake in Spotify Technology S.A. (NYSE:SPOT)

TD Waterhouse Canada Inc. grew its position in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 131.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,997 shares of the company's stock after purchasing an additional 2,834 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in Spotify Technology were worth $2,234,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Hillsdale Investment Management Inc. purchased a new position in shares of Spotify Technology in the fourth quarter worth about $27,000. Quent Capital LLC boosted its holdings in shares of Spotify Technology by 135.7% in the 4th quarter. Quent Capital LLC now owns 99 shares of the company's stock worth $44,000 after purchasing an additional 57 shares in the last quarter. Noble Wealth Management PBC purchased a new position in Spotify Technology in the 4th quarter worth $52,000. Strategic Financial Concepts LLC bought a new stake in Spotify Technology in the 4th quarter worth $56,000. Finally, Larson Financial Group LLC increased 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 buying an additional 47 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SPOT has been the subject of a number of recent research reports. Canaccord Genuity Group boosted their price objective on shares of Spotify Technology from $650.00 to $700.00 and gave the company a "buy" rating in a research report on Wednesday, February 5th. KeyCorp decreased their target price on Spotify Technology from $675.00 to $625.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Barclays increased their price objective on shares of Spotify Technology from $475.00 to $710.00 and gave the company an "overweight" rating in a report on Wednesday, February 5th. Citigroup boosted their target price on shares of Spotify Technology from $540.00 to $720.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. Finally, Benchmark raised their price target on Spotify Technology from $600.00 to $720.00 and gave the company a "buy" rating in a report on Wednesday, February 5th. Seven investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $596.26.

Spotify Technology Trading Down 4.8 %

SPOT stock traded down $28.84 on Tuesday, hitting $568.89. The company's stock had a trading volume of 5,552,708 shares, compared to its average volume of 2,440,131. Spotify Technology S.A. has a 1 year low of $280.37 and a 1 year high of $652.63. The stock has a market cap of $116.46 billion, a price-to-earnings ratio of 95.71 and a beta of 1.75. The firm has a 50 day moving average of $570.33 and a two-hundred day moving average of $509.96.

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.