Interchange Capital Partners LLC Makes New $243,000 Investment in Spotify Technology S.A. (NYSE:SPOT)

Interchange Capital Partners LLC purchased a new stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 543 shares of the company's stock, valued at approximately $243,000.

Several other hedge funds have also bought and sold shares of the stock. Jennison Associates LLC acquired a new stake in Spotify Technology in the fourth quarter valued at approximately $1,335,575,000. State Street Corp increased its holdings in 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 raised its position in Spotify Technology by 23.4% during the third 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 during the period. Forsta AP Fonden purchased a new position in Spotify Technology during the fourth quarter valued at $619,600,000. Finally, Two Sigma Advisers LP grew its position in shares of Spotify Technology by 19.0% in the third quarter. Two Sigma Advisers LP now owns 980,000 shares of the company's stock valued at $361,159,000 after purchasing an additional 156,300 shares during the period. Hedge funds and other institutional investors own 84.09% of the company's stock.

Spotify Technology Trading Down 2.8 %

Spotify Technology stock traded down $16.46 during trading on Friday, hitting $563.76. The company had a trading volume of 806,069 shares, compared to its average volume of 2,149,611. The stock has a market cap of $115.41 billion, a price-to-earnings ratio of 94.81 and a beta of 1.66. Spotify Technology S.A. has a 1-year low of $258.00 and a 1-year high of $652.63. The company's 50 day simple moving average is $576.80 and its 200-day simple moving average is $475.48.

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Analysts Set New Price Targets

Several research analysts recently weighed in on SPOT shares. Canaccord Genuity Group upped their price target on shares of Spotify Technology from $650.00 to $700.00 and gave the stock a "buy" rating in a research report on Wednesday, February 5th. Rosenblatt Securities reissued a "neutral" rating and set a $658.00 target price (up previously from $473.00) on shares of Spotify Technology in a 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 note on Monday, February 24th. Cantor Fitzgerald reissued a "neutral" rating and issued a $480.00 price objective (down from $490.00) on shares of Spotify Technology in a research note on Tuesday, January 28th. Finally, UBS Group raised their price objective on Spotify Technology from $485.00 to $540.00 and gave the company a "buy" rating in a report on Wednesday, January 15th. Nine analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $552.47.

Spotify Technology 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.