Hillsdale Investment Management Inc. Invests $27,000 in Spotify Technology S.A. (NYSE:SPOT)

Hillsdale Investment Management Inc. acquired a new stake in Spotify Technology S.A. (NYSE:SPOT) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 60 shares of the company’s stock, valued at approximately $27,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Prestige Wealth Management Group LLC acquired a new stake in shares of Spotify Technology in the 3rd quarter valued at $26,000. Hobbs Group Advisors LLC bought a new stake in Spotify Technology during the 3rd quarter worth about $33,000. Larson Financial Group LLC lifted its position in Spotify Technology by 51.6% during the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock valued at $36,000 after purchasing an additional 33 shares during the period. Quent Capital LLC boosted its stake in shares of Spotify Technology by 135.7% in the 4th quarter. Quent Capital LLC now owns 99 shares of the company’s stock valued at $44,000 after purchasing an additional 57 shares during the last quarter. Finally, Noble Wealth Management PBC bought a new stake in shares of Spotify Technology during the fourth quarter worth approximately $52,000. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Trading Up 1.8 %

Shares of NYSE SPOT opened at $615.84 on Wednesday. The company has a market capitalization of $126.07 billion, a P/E ratio of 103.50 and a beta of 1.66. Spotify Technology S.A. has a 12 month low of $257.56 and a 12 month high of $652.63. The stock has a 50 day moving average of $573.25 and a 200-day moving average of $474.03.

Analysts Set New Price Targets

Several brokerages have commented on SPOT. Wells Fargo & Company upped their target price on shares of Spotify Technology from $520.00 to $690.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. KeyCorp upped their price target on Spotify Technology from $555.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. 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 note on Wednesday, February 5th. Morgan Stanley lifted their target price on Spotify Technology from $550.00 to $670.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Finally, UBS Group increased their target price on Spotify Technology from $485.00 to $540.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Eight research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, Spotify Technology currently has an average rating of “Moderate Buy” and a consensus price target of $540.68.

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.