CenterBook Partners LP Boosts Stock Position in Spotify Technology S.A. (NYSE:SPOT)

CenterBook Partners LP grew its position in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 822.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 36,599 shares of the company's stock after acquiring an additional 32,633 shares during the quarter. Spotify Technology comprises about 1.0% of CenterBook Partners LP's investment portfolio, making the stock its 15th largest holding. CenterBook Partners LP's holdings in Spotify Technology were worth $16,374,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of SPOT. Hillsdale Investment Management Inc. acquired a new stake in shares of Spotify Technology in the 4th quarter worth approximately $27,000. Prestige Wealth Management Group LLC purchased a new stake in shares of Spotify Technology in the 3rd quarter valued at approximately $26,000. Hobbs Group Advisors LLC acquired a new stake in shares of Spotify Technology in the third quarter worth $33,000. Quent Capital LLC grew its stake in Spotify Technology by 135.7% during the 4th quarter. Quent Capital LLC now owns 99 shares of the company's stock valued at $44,000 after acquiring an additional 57 shares in the last quarter. Finally, Noble Wealth Management PBC purchased a new position in Spotify Technology during the fourth quarter valued at approximately $52,000. Institutional investors and hedge funds own 84.09% of the company's stock.

Spotify Technology Stock Performance

Shares of Spotify Technology stock traded up $5.95 on Monday, hitting $549.61. The company had a trading volume of 873,760 shares, compared to its average volume of 2,176,797. The stock has a market capitalization of $112.51 billion, a price-to-earnings ratio of 92.37 and a beta of 1.75. The stock has a 50 day moving average of $581.80 and a 200-day moving average of $493.82. Spotify Technology S.A. has a 1 year low of $267.76 and a 1 year high of $652.63.

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Analyst Ratings Changes

Several research analysts have weighed in on SPOT shares. KeyCorp dropped their target price on Spotify Technology from $675.00 to $625.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Canaccord Genuity Group raised their target price on Spotify Technology from $650.00 to $700.00 and gave the company a "buy" rating in a report on Wednesday, February 5th. Benchmark raised their price objective on shares of Spotify Technology from $600.00 to $720.00 and gave the stock a "buy" rating in a report on Wednesday, February 5th. Citigroup lifted their target price 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. Finally, The Goldman Sachs Group boosted their target price on Spotify Technology from $550.00 to $695.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Nine research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $555.30.

Spotify Technology Company 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.