Spotify Technology S.A. (NYSE:SPOT) Shares Bought by Fmr LLC

FMR LLC raised its holdings in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 30.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,041,387 shares of the company's stock after buying an additional 473,569 shares during the quarter. FMR LLC owned about 1.03% of Spotify Technology worth $913,276,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. HighTower Advisors LLC lifted its stake in shares of Spotify Technology by 25.2% in the third quarter. HighTower Advisors LLC now owns 16,549 shares of the company's stock worth $6,073,000 after buying an additional 3,330 shares in the last quarter. Integrated Wealth Concepts LLC lifted its holdings in Spotify Technology by 5.6% in the third quarter. Integrated Wealth Concepts LLC now owns 1,743 shares of the company's stock valued at $642,000 after acquiring an additional 93 shares during the period. Quantinno Capital Management LP boosted its position in Spotify Technology by 14.2% in the third quarter. Quantinno Capital Management LP now owns 9,500 shares of the company's stock worth $3,501,000 after purchasing an additional 1,180 shares during the last quarter. Stifel Financial Corp grew its position in Spotify Technology by 16.2% during the third quarter. Stifel Financial Corp now owns 64,083 shares of the company's stock valued at $23,617,000 after buying an additional 8,919 shares during the period. Finally, State Street Corp lifted its position in Spotify Technology by 1.5% during the third quarter. State Street Corp now owns 1,997,323 shares of the company's stock valued at $736,073,000 after purchasing an additional 28,864 shares in the last quarter. Hedge funds and other institutional investors own 84.09% of the company's stock.

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Analyst Upgrades and Downgrades

SPOT has been the topic of several research analyst reports. Rosenblatt Securities restated a "neutral" rating and issued a $658.00 price objective (up from $473.00) on shares of Spotify Technology in a research report on Wednesday, February 5th. UBS Group decreased their target price on shares of Spotify Technology from $720.00 to $690.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. China Renaissance began coverage on Spotify Technology in a research report on Wednesday, March 26th. They issued a "buy" rating and a $740.00 price target for the company. Benchmark boosted 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. Finally, FBN Securities started coverage on Spotify Technology in a report on Friday, March 28th. They issued a "sector perform" rating and a $645.00 price target on the stock. Nine research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat, Spotify Technology has an average rating of "Moderate Buy" and a consensus price target of $555.30.

Spotify Technology Stock Performance

Shares of Spotify Technology stock traded down $9.78 on Friday, reaching $543.24. The company had a trading volume of 2,153,397 shares, compared to its average volume of 2,181,716. The firm's 50 day moving average price is $581.80 and its two-hundred day moving average price is $493.82. Spotify Technology S.A. has a 52-week low of $267.76 and a 52-week high of $652.63. The firm has a market cap of $111.21 billion, a PE ratio of 91.30 and a beta of 1.75.

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.