AGF Management Ltd. lifted its stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 0.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 356,250 shares of the company's stock after purchasing an additional 1,133 shares during the period. AGF Management Ltd. owned about 0.18% of Spotify Technology worth $159,379,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Aigen Investment Management LP lifted its holdings in Spotify Technology by 42.4% in the 3rd quarter. Aigen Investment Management LP now owns 9,800 shares of the company's stock valued at $3,612,000 after purchasing an additional 2,918 shares in the last quarter. Jennison Associates LLC purchased a new position in shares of Spotify Technology in the 4th quarter valued at about $1,335,575,000. Marks Group Wealth Management Inc purchased a new stake in Spotify Technology during the fourth quarter worth approximately $535,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in Spotify Technology in the fourth quarter valued at approximately $214,000. Finally, Pathway Capital Management LP lifted its stake in Spotify Technology by 23.8% in the third quarter. Pathway Capital Management LP now owns 57,340 shares of the company's stock valued at $21,132,000 after buying an additional 11,042 shares during the last quarter. 84.09% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research firms have weighed in on SPOT. Piper Sandler upped their target price on Spotify Technology from $330.00 to $450.00 and gave the company a "neutral" rating in a report on Wednesday, November 13th. Benchmark increased their target price on Spotify Technology from $600.00 to $720.00 and gave the company a "buy" rating in a research note on Wednesday, February 5th. Cantor Fitzgerald restated a "neutral" rating and set a $480.00 price objective (down previously from $490.00) on shares of Spotify Technology in a research note on Tuesday, January 28th. Bank of America increased their price target on Spotify Technology from $430.00 to $515.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Finally, Phillip Securities reissued an "accumulate" rating and set a $485.00 target price (up previously from $420.00) on shares of Spotify Technology in a report on Wednesday, November 13th. One equities research 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $529.43.
Read Our Latest Stock Report on Spotify Technology
Spotify Technology Stock Down 8.3 %
NYSE SPOT opened at $488.00 on Tuesday. The company has a market capitalization of $99.90 billion, a P/E ratio of 82.02 and a beta of 1.66. Spotify Technology S.A. has a 12-month low of $249.58 and a 12-month high of $652.63. The firm has a 50-day moving average price of $548.54 and a two-hundred day moving average price of $455.47.
Spotify Technology Profile
(
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.
Further Reading
Want to see what other hedge funds are holding SPOT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Spotify Technology S.A. (NYSE:SPOT - Free Report).
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