Axiom Investors LLC DE lifted its stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 1,552.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 227,178 shares of the company's stock after purchasing an additional 213,430 shares during the period. Spotify Technology accounts for approximately 0.7% of Axiom Investors LLC DE's holdings, making the stock its 29th largest position. Axiom Investors LLC DE owned about 0.11% of Spotify Technology worth $101,635,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of SPOT. Intech Investment Management LLC raised its stake in Spotify Technology by 57.0% during the 3rd quarter. Intech Investment Management LLC now owns 1,699 shares of the company's stock worth $626,000 after acquiring an additional 617 shares during the period. Larson Financial Group LLC raised its position in shares of 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. Townsquare Capital LLC lifted its stake in shares of Spotify Technology by 7.8% during the 3rd quarter. Townsquare Capital LLC now owns 994 shares of the company's stock valued at $366,000 after buying an additional 72 shares in the last quarter. CreativeOne Wealth LLC boosted its holdings in Spotify Technology by 40.1% in the 3rd quarter. CreativeOne Wealth LLC now owns 1,669 shares of the company's stock worth $615,000 after buying an additional 478 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Spotify Technology by 34.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,189 shares of the company's stock worth $807,000 after buying an additional 565 shares in the last quarter. 84.09% of the stock is owned by institutional investors.
Spotify Technology Stock Up 2.4 %
SPOT traded up $13.44 on Wednesday, reaching $565.17. 1,919,603 shares of the company traded hands, compared to its average volume of 2,162,202. The company has a market cap of $115.69 billion, a P/E ratio of 94.99 and a beta of 1.66. Spotify Technology S.A. has a one year low of $261.38 and a one year high of $652.63. The firm has a fifty day simple moving average of $580.87 and a two-hundred day simple moving average of $482.18.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on SPOT. Canaccord Genuity Group boosted their price objective on Spotify Technology from $650.00 to $700.00 and gave the company a "buy" rating in a research report on Wednesday, February 5th. FBN Securities started coverage on Spotify Technology in a report on Friday, March 28th. They issued a "sector perform" rating and a $645.00 price target on the stock. Guggenheim reaffirmed a "buy" rating and set a $675.00 price objective on shares of Spotify Technology in a report on Monday, February 24th. Wells Fargo & Company boosted their target price on shares of Spotify Technology from $690.00 to $740.00 and gave the stock an "overweight" rating in a report on Friday, March 28th. Finally, Macquarie upped their target price on shares of Spotify Technology from $500.00 to $600.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company's stock. According to data from MarketBeat.com, Spotify Technology has a consensus rating of "Moderate Buy" and an average price target of $557.47.
View Our Latest Report on Spotify Technology
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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