Capital International Investors Buys 336,200 Shares of Spotify Technology S.A. (NYSE:SPOT)

Capital International Investors grew its position in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 2,063.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 352,491 shares of the company's stock after purchasing an additional 336,200 shares during the quarter. Capital International Investors owned approximately 0.18% of Spotify Technology worth $158,027,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital International Sarl acquired a new stake in shares of Spotify Technology during the fourth quarter worth $1,719,000. Wasatch Advisors LP acquired a new stake in Spotify Technology during the 4th quarter worth about $508,000. NewEdge Advisors LLC raised its position in shares of Spotify Technology by 37.4% in the 4th quarter. NewEdge Advisors LLC now owns 9,199 shares of the company's stock worth $4,115,000 after acquiring an additional 2,505 shares in the last quarter. Insigneo Advisory Services LLC lifted its stake in shares of Spotify Technology by 10.5% in the 4th quarter. Insigneo Advisory Services LLC now owns 1,053 shares of the company's stock valued at $471,000 after purchasing an additional 100 shares during the period. Finally, United Capital Financial Advisors LLC lifted its stake in shares of Spotify Technology by 165.9% in the 4th quarter. United Capital Financial Advisors LLC now owns 6,058 shares of the company's stock valued at $2,710,000 after purchasing an additional 3,780 shares during the period. Institutional investors and hedge funds own 84.09% of the company's stock.

Spotify Technology Trading Up 2.1 %

Shares of NYSE SPOT traded up $12.58 during mid-day trading on Thursday, hitting $605.28. The company had a trading volume of 1,552,086 shares, compared to its average volume of 2,124,074. The stock's 50-day moving average price is $572.08 and its 200-day moving average price is $503.17. Spotify Technology S.A. has a 1 year low of $271.65 and a 1 year high of $652.63. The company has a market capitalization of $123.91 billion, a price-to-earnings ratio of 101.73 and a beta of 1.75.

Analyst Ratings Changes

Several analysts have recently commented on SPOT shares. The Goldman Sachs Group raised 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. Guggenheim restated a "buy" rating and issued a $675.00 price target on shares of Spotify Technology in a report on Monday, February 24th. Citigroup lifted their price target 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. JPMorgan Chase & Co. cut their price objective on shares of Spotify Technology from $730.00 to $640.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Rosenblatt Securities reiterated a "neutral" rating and issued a $658.00 price target (up previously from $473.00) on shares of Spotify Technology in a report on Wednesday, February 5th. Seven equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $585.32.

About Spotify Technology

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.