PDS Planning Inc purchased a new position in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 651 shares of the company's stock, valued at approximately $291,000.
A number of other institutional investors also recently modified their holdings of the business. Jennison Associates LLC acquired a new position in Spotify Technology in the 4th quarter worth about $1,335,575,000. Forsta AP Fonden acquired a new position in Spotify Technology in the 4th quarter worth about $619,600,000. Amundi increased its holdings in Spotify Technology by 194.2% in the 4th quarter. Amundi now owns 750,030 shares of the company's stock worth $359,812,000 after purchasing an additional 495,087 shares in the last quarter. Swiss National Bank acquired a new position in Spotify Technology in the 4th quarter worth about $189,197,000. Finally, FMR LLC increased its holdings in Spotify Technology by 23.4% in the 3rd quarter. FMR LLC now owns 1,567,818 shares of the company's stock worth $577,788,000 after purchasing an additional 297,035 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company's stock.
Spotify Technology Price Performance
Shares of SPOT stock traded up $5.09 during trading hours on Friday, reaching $599.64. The company had a trading volume of 2,543,337 shares, compared to its average volume of 2,107,412. Spotify Technology S.A. has a 12 month low of $257.56 and a 12 month high of $652.63. The business has a fifty day simple moving average of $567.23 and a 200-day simple moving average of $469.03. The company has a market cap of $122.75 billion, a price-to-earnings ratio of 100.78 and a beta of 1.66.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on the company. KeyCorp increased 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. JPMorgan Chase & Co. increased their price target on Spotify Technology from $555.00 to $730.00 and gave the company an "overweight" rating in a research note on Wednesday, February 5th. Benchmark increased their price target on Spotify Technology from $600.00 to $720.00 and gave the company a "buy" rating in a research note on Wednesday, February 5th. Guggenheim reissued a "buy" rating and issued a $675.00 price target on shares of Spotify Technology in a research note on Monday, February 24th. Finally, UBS Group increased their price target on Spotify Technology from $485.00 to $540.00 and gave the company a "buy" rating in a research note on Wednesday, January 15th. Eight analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $540.68.
Get Our Latest Analysis on SPOT
About Spotify Technology
(
Free Report)
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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