Meeder Asset Management Inc. Purchases 12,207 Shares of Spotify Technology S.A. (NYSE:SPOT)

Meeder Asset Management Inc. increased its stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 14,361.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,292 shares of the company's stock after buying an additional 12,207 shares during the period. Meeder Asset Management Inc.'s holdings in Spotify Technology were worth $5,499,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jennison Associates LLC purchased a new position in Spotify Technology during the 4th quarter valued at about $1,335,575,000. GQG Partners LLC purchased a new position in shares of Spotify Technology during the fourth quarter valued at approximately $800,725,000. Forsta AP Fonden bought a new stake in shares of Spotify Technology in the 4th quarter worth approximately $619,600,000. Norges Bank purchased a new stake in shares of Spotify Technology in the 4th quarter worth approximately $396,028,000. Finally, Amundi increased its position in Spotify Technology by 194.2% during the 4th quarter. Amundi now owns 750,030 shares of the company's stock valued at $359,812,000 after buying an additional 495,087 shares in the last quarter. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SPOT has been the topic of a number of recent research reports. Benchmark increased 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. Citigroup raised their price objective on shares of Spotify Technology from $540.00 to $720.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. FBN Securities started coverage on shares of Spotify Technology in a research note on Friday, March 28th. They issued a "sector perform" rating and a $645.00 target price on the stock. KeyCorp increased their price target on shares of Spotify Technology from $555.00 to $600.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Finally, China Renaissance started coverage on shares of Spotify Technology in a report on Wednesday, March 26th. They issued a "buy" rating and a $740.00 price objective for the company. Nine research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $557.47.

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Spotify Technology Stock Performance

Shares of NYSE SPOT traded up $13.44 during midday trading on Wednesday, reaching $565.17. The stock had a trading volume of 1,919,603 shares, compared to its average volume of 2,162,206. Spotify Technology S.A. has a 12-month low of $261.38 and a 12-month high of $652.63. The stock has a 50-day moving average of $580.87 and a 200-day moving average of $482.18. The company has a market capitalization of $115.69 billion, a price-to-earnings ratio of 94.99 and a beta of 1.66.

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.