MetLife Investment Management LLC Has $12.06 Million Stock Position in Spotify Technology S.A. (NYSE:SPOT)

MetLife Investment Management LLC lifted its position in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 190.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,961 shares of the company's stock after acquiring an additional 17,693 shares during the period. MetLife Investment Management LLC's holdings in Spotify Technology were worth $12,062,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SPOT. Jennison Associates LLC acquired a new stake in shares of Spotify Technology in the 4th quarter worth about $1,335,575,000. FMR LLC increased its stake in shares of Spotify Technology by 30.2% in the fourth quarter. FMR LLC now owns 2,041,387 shares of the company's stock valued at $913,276,000 after purchasing an additional 473,569 shares during the period. Schroder Investment Management Group boosted its position in shares of Spotify Technology by 0.4% during the fourth quarter. Schroder Investment Management Group now owns 1,912,937 shares of the company's stock worth $855,810,000 after buying an additional 7,075 shares during the period. GQG Partners LLC bought a new position in Spotify Technology in the 4th quarter worth approximately $800,725,000. Finally, Geode Capital Management LLC increased its position in Spotify Technology by 561.6% in the 4th quarter. Geode Capital Management LLC now owns 1,483,392 shares of the company's stock valued at $659,841,000 after acquiring an additional 1,259,183 shares during the period. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Price Performance

Shares of SPOT stock traded up $1.51 during trading on Wednesday, reaching $591.90. The company had a trading volume of 1,917,446 shares, compared to its average volume of 2,126,353. The firm's 50 day simple moving average is $572.08 and its two-hundred day simple moving average is $503.17. Spotify Technology S.A. has a one year low of $271.65 and a one year high of $652.63. The company has a market capitalization of $121.17 billion, a PE ratio of 99.48 and a beta of 1.75.

Analysts Set New Price Targets

SPOT has been the subject of a number of recent analyst reports. The Goldman Sachs Group increased their target price on shares of Spotify Technology from $550.00 to $695.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Guggenheim reissued a "buy" rating and set a $675.00 target price on shares of Spotify Technology in a report on Monday, February 24th. Canaccord Genuity Group increased their price target on Spotify Technology from $650.00 to $700.00 and gave the company a "buy" rating in a research note on Wednesday, February 5th. Morgan Stanley lifted their price target on Spotify Technology from $550.00 to $670.00 and gave the company an "overweight" rating in a research report on Wednesday, February 5th. Finally, Rosenblatt Securities restated a "neutral" rating and issued a $658.00 price objective (up previously from $473.00) on shares of Spotify Technology in a report on Wednesday, February 5th. Seven investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company's stock. According to MarketBeat, Spotify Technology presently has a consensus rating of "Moderate Buy" and an average target price 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.