Canton Hathaway LLC Acquires 800 Shares of Spotify Technology S.A. (NYSE:SPOT)

Canton Hathaway LLC increased its holdings in Spotify Technology S.A. (NYSE:SPOT) by 34.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,096 shares of the company’s stock after acquiring an additional 800 shares during the period. Canton Hathaway LLC’s holdings in Spotify Technology were worth $1,385,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Jennison Associates LLC purchased a new stake in shares of Spotify Technology in the fourth quarter valued at about $1,335,575,000. Forsta AP Fonden bought a new position in shares of Spotify Technology during the 4th quarter worth approximately $619,600,000. WCM Investment Management LLC boosted its stake in shares of Spotify Technology by 18.5% in the 3rd quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock worth $1,430,142,000 after buying an additional 605,755 shares during the last quarter. FMR LLC grew its holdings in shares of Spotify Technology by 23.4% in the third quarter. FMR LLC now owns 1,567,818 shares of the company’s stock valued at $577,788,000 after acquiring an additional 297,035 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of Spotify Technology by 3,948.3% during the third quarter. Janus Henderson Group PLC now owns 264,233 shares of the company’s stock valued at $97,329,000 after acquiring an additional 257,706 shares during the last quarter. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Down 1.0 %

NYSE SPOT opened at $601.54 on Tuesday. The stock’s 50-day simple moving average is $525.88 and its two-hundred day simple moving average is $439.15. The company has a market capitalization of $119.74 billion, a price-to-earnings ratio of 101.10 and a beta of 1.63. Spotify Technology S.A. has a twelve month low of $249.38 and a twelve month high of $652.63.

Analyst Ratings Changes

A number of equities research analysts have recently commented on SPOT shares. Wolfe Research reiterated a “peer perform” rating on shares of Spotify Technology in a research note on Friday, January 17th. Wells Fargo & Company lifted their price objective on shares of Spotify Technology from $520.00 to $690.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. The Goldman Sachs Group increased their target price on shares of Spotify Technology from $550.00 to $695.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Canaccord Genuity Group raised their price target on shares of Spotify Technology from $650.00 to $700.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $658.00 price objective (up previously from $473.00) on shares of Spotify Technology in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Spotify Technology has a consensus rating of “Moderate Buy” and a consensus target price of $529.43.

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.