JPMorgan’s Top 5 Stock Picks for 2023

2. Spotify Technology S.A. (NYSE:SPOT)

Year to Date Share Price Growth as of February 8, 2023: 52.05%

Number of Hedge Fund Holders In Q3 2022: 57

Spotify Technology S.A. (NYSE:SPOT) is a software company that operates an audio streaming platform. This allows users to listen to music and podcasts alongside other programs.

Spotify Technology S.A. (NYSE:SPOT) is currently facing demands from artists such as Drake to pay them ‘bonuses’ if they end up beating record views for their content. Insider Monkey took a look at 920 hedge fund holdings for last year’s September quarter to discover that 57 had bought Spotify Technology S.A. (NYSE:SPOT)’s shares.

Out of these, Catherine D. Woods’ ARK Investment Management is Spotify Technology S.A. (NYSE:SPOT)’s largest investor. It owns 800,291 shares that are worth $69 million.

Follow Spotify Technology S.a. (NYSE:SPOT)