Capital International Inc. CA Boosts Holdings in Spotify Technology S.A. (NYSE:SPOT)

Capital International Inc. CA increased its position in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 42.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,623 shares of the company's stock after acquiring an additional 1,381 shares during the period. Capital International Inc. CA's holdings in Spotify Technology were worth $2,068,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Jennison Associates LLC acquired a new position in Spotify Technology during the 4th quarter worth about $1,335,575,000. FMR LLC increased its position in Spotify Technology by 30.2% during the 4th quarter. FMR LLC now owns 2,041,387 shares of the company's stock valued at $913,276,000 after purchasing an additional 473,569 shares during the period. Schroder Investment Management Group raised its holdings in Spotify Technology by 0.4% during the 4th quarter. Schroder Investment Management Group now owns 1,912,937 shares of the company's stock worth $855,810,000 after purchasing an additional 7,075 shares during the last quarter. GQG Partners LLC acquired a new position in shares of Spotify Technology in the 4th quarter worth approximately $800,725,000. Finally, Geode Capital Management LLC boosted its stake in shares of Spotify Technology by 561.6% in the 4th quarter. Geode Capital Management LLC now owns 1,483,392 shares of the company's stock valued at $659,841,000 after purchasing an additional 1,259,183 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Cantor Fitzgerald cut their price target on shares of Spotify Technology from $600.00 to $520.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. 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. Citigroup lifted their price objective on shares of Spotify Technology from $540.00 to $720.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. The Goldman Sachs Group increased their price objective on shares of Spotify Technology from $550.00 to $695.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Finally, KeyCorp dropped their price target on Spotify Technology from $675.00 to $625.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Seven analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, Spotify Technology currently has a consensus rating of "Moderate Buy" and a consensus target price of $596.26.

Spotify Technology Price Performance

Shares of Spotify Technology stock traded up $15.21 during trading hours on Friday, reaching $621.16. The company had a trading volume of 2,575,974 shares, compared to its average volume of 2,101,516. The firm has a market cap of $127.16 billion, a PE ratio of 104.40 and a beta of 1.75. Spotify Technology S.A. has a one year low of $271.65 and a one year high of $652.63. The business has a fifty day simple moving average of $571.43 and a 200 day simple moving average of $504.84.

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.