Spotify Technology S.A. (NYSE:SPOT) Shares Purchased by Guggenheim Capital LLC

Guggenheim Capital LLC increased its position in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 16.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,133 shares of the company's stock after purchasing an additional 2,263 shares during the period. Guggenheim Capital LLC's holdings in Spotify Technology were worth $7,218,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Thrivent Financial for Lutherans boosted its stake in shares of Spotify Technology by 566.1% during the 4th quarter. Thrivent Financial for Lutherans now owns 7,980 shares of the company's stock worth $3,541,000 after purchasing an additional 6,782 shares during the period. Jennison Associates LLC purchased a new stake in Spotify Technology in the 4th quarter valued at about $1,335,575,000. Marks Group Wealth Management Inc purchased a new stake in Spotify Technology in the 4th quarter valued at about $535,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in Spotify Technology in the 4th quarter valued at about $214,000. Finally, Swedbank AB boosted its position in Spotify Technology by 20.9% in the 4th quarter. Swedbank AB now owns 946,129 shares of the company's stock valued at $423,279,000 after buying an additional 163,626 shares during the period. 84.09% of the stock is owned by hedge funds and other institutional investors.

Spotify Technology Price Performance

NYSE SPOT traded up $8.28 during trading hours on Wednesday, reaching $598.67. The company's stock had a trading volume of 908,996 shares, compared to its average volume of 2,378,568. Spotify Technology S.A. has a 1-year low of $271.65 and a 1-year high of $652.63. The company's 50-day moving average is $573.00 and its two-hundred day moving average is $502.56. The firm has a market capitalization of $122.55 billion, a price-to-earnings ratio of 100.62 and a beta of 1.75.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SPOT shares. Canaccord Genuity Group boosted their price objective on shares of Spotify Technology from $650.00 to $700.00 and gave the company a "buy" rating in a research report on Wednesday, February 5th. Barclays boosted their price objective on shares of Spotify Technology from $475.00 to $710.00 and gave the company an "overweight" rating in a research report on Wednesday, February 5th. Guggenheim reaffirmed a "buy" rating and issued a $675.00 price target on shares of Spotify Technology in a research report on Monday, February 24th. Macquarie upped their price target on shares of Spotify Technology from $500.00 to $600.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Finally, Benchmark upped their price target on shares of Spotify Technology from $600.00 to $720.00 and gave the stock a "buy" rating in a research report on Wednesday, February 5th. Seven research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $585.32.

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.