Blair William & Co. IL Grows Position in Spotify Technology S.A. (NYSE:SPOT)

Blair William & Co. IL lifted its holdings in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 84.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,292 shares of the company's stock after acquiring an additional 593 shares during the quarter. Blair William & Co. IL's holdings in Spotify Technology were worth $578,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SPOT. Jennison Associates LLC purchased a new stake in Spotify Technology during the fourth quarter worth $1,335,575,000. State Street Corp grew its position in shares of Spotify Technology by 1.5% during the 3rd quarter. State Street Corp now owns 1,997,323 shares of the company's stock valued at $736,073,000 after acquiring an additional 28,864 shares during the period. GQG Partners LLC purchased a new position in shares of Spotify Technology in the 4th quarter valued at about $800,725,000. Forsta AP Fonden acquired a new position in Spotify Technology in the 4th quarter worth about $619,600,000. Finally, Two Sigma Advisers LP boosted its position in Spotify Technology by 19.0% during the third quarter. Two Sigma Advisers LP now owns 980,000 shares of the company's stock worth $361,159,000 after purchasing an additional 156,300 shares in the last quarter. Hedge funds and other institutional investors own 84.09% of the company's stock.

Spotify Technology Stock Performance

SPOT stock traded down $4.24 during trading on Tuesday, hitting $514.74. The stock had a trading volume of 3,298,377 shares, compared to its average volume of 2,168,817. The company's 50 day moving average price is $582.51 and its two-hundred day moving average price is $488.76. The stock has a market cap of $105.37 billion, a price-to-earnings ratio of 86.51 and a beta of 1.75. Spotify Technology S.A. has a 1-year low of $267.76 and a 1-year high of $652.63.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on SPOT shares. Benchmark increased their target price on Spotify Technology from $600.00 to $720.00 and gave the company a "buy" rating in a research report on Wednesday, February 5th. KeyCorp lifted their target price on shares of Spotify Technology from $555.00 to $600.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Wolfe Research reaffirmed a "peer perform" rating on shares of Spotify Technology in a research note on Friday, January 17th. Wells Fargo & Company boosted their price objective on Spotify Technology from $690.00 to $740.00 and gave the stock an "overweight" rating in a research note on Friday, March 28th. Finally, Morgan Stanley raised their target price on Spotify Technology from $550.00 to $670.00 and gave the company an "overweight" rating in a research report on Wednesday, February 5th. Nine analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company's stock. According to MarketBeat, Spotify Technology presently has an average rating of "Moderate Buy" and an average target price of $554.47.

Spotify Technology Profile

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.