Citizens Financial Group Inc. RI Buys Shares of 460 Spotify Technology S.A. (NYSE:SPOT)

Citizens Financial Group Inc. RI acquired a new stake in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 460 shares of the company's stock, valued at approximately $206,000.

Other hedge funds have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its position in shares of Spotify Technology by 3.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,492,170 shares of the company's stock worth $1,286,969,000 after acquiring an additional 102,786 shares in the last quarter. Jennison Associates LLC acquired a new position in shares of Spotify Technology in the 4th quarter worth approximately $1,335,575,000. State Street Corp grew its position in shares of Spotify Technology by 1.5% in the 3rd quarter. State Street Corp now owns 1,997,323 shares of the company's stock worth $736,073,000 after acquiring an additional 28,864 shares in the last quarter. FMR LLC grew its position in shares of Spotify Technology by 23.4% in the 3rd quarter. FMR LLC now owns 1,567,818 shares of the company's stock worth $577,788,000 after acquiring an additional 297,035 shares in the last quarter. Finally, Forsta AP Fonden acquired a new position in shares of Spotify Technology in the 4th quarter worth approximately $619,600,000. Institutional investors and hedge funds own 84.09% of the company's stock.

Spotify Technology Stock Performance

Shares of SPOT stock traded up $16.27 on Wednesday, reaching $585.75. 2,234,589 shares of the company's stock traded hands, compared to its average volume of 2,089,692. Spotify Technology S.A. has a 12-month low of $249.58 and a 12-month high of $652.63. The company has a market capitalization of $119.91 billion, a P/E ratio of 98.45 and a beta of 1.66. The business's 50 day moving average price is $560.06 and its two-hundred day moving average price is $464.55.

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Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. UBS Group boosted their price objective on Spotify Technology from $485.00 to $540.00 and gave the company a "buy" rating in a research report on Wednesday, January 15th. Benchmark boosted their price objective on Spotify Technology from $600.00 to $720.00 and gave the company a "buy" rating in a research report on Wednesday, February 5th. Barclays boosted their price objective on Spotify Technology from $475.00 to $710.00 and gave the company an "overweight" rating in a research report on Wednesday, February 5th. Rosenblatt Securities restated a "neutral" rating and set a $658.00 price objective (up previously from $473.00) on shares of Spotify Technology in a research report on Wednesday, February 5th. Finally, KeyCorp boosted their price objective on Spotify Technology from $555.00 to $600.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, Spotify Technology presently has an average rating of "Moderate Buy" and an average target price of $540.68.

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.