Katamaran Capital LLP Takes Position in Spotify Technology S.A. (NYSE:SPOT)
Katamaran Capital LLP acquired a new stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,850 shares of the company's stock, valued at approximately $3,512,000. Spotify Technology accounts for about 4.5% of Katamaran Capital LLP's holdings, making the stock its 9th biggest position.
Several other large investors have also bought and sold shares of SPOT. Hillsdale Investment Management Inc. acquired a new position in Spotify Technology in the fourth quarter worth approximately $27,000. Prestige Wealth Management Group LLC acquired a new position in shares of Spotify Technology in the 3rd quarter worth $26,000. Hobbs Group Advisors LLC acquired a new position in shares of Spotify Technology in the 3rd quarter worth $33,000. Quent Capital LLC raised its position in shares of Spotify Technology by 135.7% during the fourth quarter. Quent Capital LLC now owns 99 shares of the company's stock worth $44,000 after purchasing an additional 57 shares during the period. Finally, Noble Wealth Management PBC purchased a new stake in shares of Spotify Technology during the fourth quarter valued at $52,000. Institutional investors own 84.09% of the company's stock.
A number of equities analysts recently weighed in on SPOT shares. Wolfe Research reissued a "peer perform" rating on shares of Spotify Technology in a research note on Friday, January 17th. Benchmark lifted their target price on shares of Spotify Technology from $600.00 to $720.00 and gave the stock a "buy" rating in a research report on Wednesday, February 5th. Guggenheim restated a "buy" rating and issued a $675.00 price target on shares of Spotify Technology in a research report on Monday, February 24th. Cantor Fitzgerald reiterated a "neutral" rating and set a $480.00 price objective (down from $490.00) on shares of Spotify Technology in a research report on Tuesday, January 28th. Finally, Redburn Atlantic started coverage on Spotify Technology in a report on Tuesday, March 11th. They issued a "neutral" rating and a $545.00 target price for the company. Nine analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Spotify Technology has a consensus rating of "Moderate Buy" and an average price target of $557.47.
Read Our Latest Analysis on SPOT
SPOT opened at $502.90 on Friday. The company has a market cap of $102.95 billion, a PE ratio of 84.52 and a beta of 1.75. The stock has a 50-day moving average of $583.28 and a 200-day moving average of $484.42. Spotify Technology S.A. has a 52-week low of $267.76 and a 52-week high of $652.63.
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.
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