Korea Investment CORP Takes Position in Spotify Technology S.A. (NYSE:SPOT)

Korea Investment CORP purchased a new position in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 116,915 shares of the company's stock, valued at approximately $52,305,000. Korea Investment CORP owned 0.06% of Spotify Technology as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Auxano Advisors LLC grew its stake in Spotify Technology by 2.5% in the 4th quarter. Auxano Advisors LLC now owns 828 shares of the company's stock valued at $370,000 after buying an additional 20 shares in the last quarter. SRS Capital Advisors Inc. boosted its holdings in Spotify Technology by 4.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 573 shares of the company's stock valued at $256,000 after purchasing an additional 25 shares during the period. First Horizon Advisors Inc. increased its holdings in shares of Spotify Technology by 5.4% in the fourth quarter. First Horizon Advisors Inc. now owns 504 shares of the company's stock worth $225,000 after purchasing an additional 26 shares during the period. Harbour Investments Inc. raised its position in shares of Spotify Technology by 13.3% in the fourth quarter. Harbour Investments Inc. now owns 222 shares of the company's stock worth $99,000 after buying an additional 26 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. grew its position in Spotify Technology by 1.9% during the fourth quarter. Cookson Peirce & Co. Inc. now owns 1,467 shares of the company's stock worth $656,000 after buying an additional 27 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company's stock.

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Spotify Technology Stock Down 0.1 %

Spotify Technology stock traded down $0.30 during trading hours on Tuesday, hitting $549.73. The stock had a trading volume of 650,288 shares, compared to its average volume of 2,335,732. The stock's 50-day moving average price is $579.58 and its 200-day moving average price is $480.67. Spotify Technology S.A. has a 12-month low of $261.38 and a 12-month high of $652.63. The stock has a market capitalization of $112.53 billion, a P/E ratio of 92.39 and a beta of 1.66.

Analyst Ratings Changes

SPOT has been the topic of a number of research analyst reports. The Goldman Sachs Group increased their target price on Spotify Technology from $550.00 to $695.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Benchmark upped their target price on Spotify Technology from $600.00 to $720.00 and gave the stock a "buy" rating in a research note on Wednesday, February 5th. Rosenblatt Securities reissued a "neutral" rating and set a $658.00 price target (up from $473.00) on shares of Spotify Technology in a research note on Wednesday, February 5th. Guggenheim reaffirmed a "buy" rating and issued a $675.00 price objective on shares of Spotify Technology in a research note on Monday, February 24th. Finally, Wolfe Research reissued a "peer perform" rating on shares of Spotify Technology in a research note on Friday, January 17th. Nine investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat.com, Spotify Technology currently has a consensus rating of "Moderate Buy" and an average target price of $552.47.

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.