Meitav Investment House Ltd. Has $504,000 Position in Spotify Technology S.A. (NYSE:SPOT)

Meitav Investment House Ltd. boosted its position in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 84.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,126 shares of the company's stock after acquiring an additional 514 shares during the quarter. Meitav Investment House Ltd.'s holdings in Spotify Technology were worth $504,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SPOT. WCM Investment Management LLC lifted its stake in shares of Spotify Technology by 18.5% during the third quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company's stock worth $1,430,142,000 after purchasing an additional 605,755 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Spotify Technology by 3.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,492,170 shares of the company's stock valued at $1,286,969,000 after buying an additional 102,786 shares during the last quarter. Jennison Associates LLC bought a new stake in Spotify Technology in the fourth quarter valued at about $1,335,575,000. State Street Corp increased its holdings in Spotify Technology by 1.5% in the third quarter. State Street Corp now owns 1,997,323 shares of the company's stock valued at $736,073,000 after buying an additional 28,864 shares during the last quarter. Finally, FMR LLC increased its holdings in Spotify Technology by 23.4% in the third quarter. FMR LLC now owns 1,567,818 shares of the company's stock valued at $577,788,000 after buying an additional 297,035 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on SPOT shares. Deutsche Bank Aktiengesellschaft boosted their price objective on Spotify Technology from $430.00 to $440.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. Guggenheim boosted their price objective on Spotify Technology from $520.00 to $675.00 and gave the company a "buy" rating in a report on Wednesday, February 5th. Citigroup boosted their price objective on Spotify Technology from $540.00 to $720.00 and gave the company a "neutral" rating in a report on Friday, February 14th. Wolfe Research reissued a "peer perform" rating on shares of Spotify Technology in a report on Friday, January 17th. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $480.00 price objective (down from $490.00) on shares of Spotify Technology in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $529.43.

Spotify Technology Stock Down 4.7 %

SPOT traded down $29.79 during trading on Friday, reaching $606.98. The stock had a trading volume of 2,197,419 shares, compared to its average volume of 2,063,644. The firm has a market capitalization of $120.82 billion, a price-to-earnings ratio of 102.01 and a beta of 1.63. Spotify Technology S.A. has a 1-year low of $243.99 and a 1-year high of $652.63. The stock has a 50 day moving average of $521.07 and a two-hundred day moving average of $433.77.

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.