MML Investors Services LLC Acquires 6,229 Shares of Spotify Technology S.A. (NYSE:SPOT)

MML Investors Services LLC grew its holdings in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 51.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,243 shares of the company's stock after acquiring an additional 6,229 shares during the quarter. MML Investors Services LLC's holdings in Spotify Technology were worth $8,162,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Jennison Associates LLC bought a new stake in shares of Spotify Technology in the 4th quarter worth approximately $1,335,575,000. GQG Partners LLC acquired a new position in shares of Spotify Technology in the fourth quarter valued at $800,725,000. Forsta AP Fonden bought a new position in Spotify Technology in the fourth quarter worth $619,600,000. Geode Capital Management LLC boosted its stake in Spotify Technology by 561.6% during the fourth quarter. Geode Capital Management LLC now owns 1,483,392 shares of the company's stock worth $659,841,000 after buying an additional 1,259,183 shares in the last quarter. Finally, Norges Bank bought a new stake in Spotify Technology in the 4th quarter valued at $396,028,000. Institutional investors and hedge funds own 84.09% of the company's stock.

Spotify Technology Stock Up 0.3 %

SPOT opened at $591.90 on Thursday. The company has a fifty day simple moving average of $572.08 and a 200 day simple moving average of $503.17. The stock has a market cap of $121.17 billion, a P/E ratio of 99.48 and a beta of 1.75. Spotify Technology S.A. has a 12 month low of $271.65 and a 12 month high of $652.63.

Analysts Set New Price Targets

A number of equities analysts have recently commented on SPOT shares. UBS Group reduced their price objective on shares of Spotify Technology from $690.00 to $680.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Wolfe Research upgraded shares of Spotify Technology from a "peer perform" rating to an "outperform" rating and set a $660.00 price target for the company in a research note on Monday. Macquarie upped their price objective on Spotify Technology from $500.00 to $600.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. FBN Securities initiated coverage on Spotify Technology in a research report on Friday, March 28th. They set a "sector perform" rating and a $645.00 target price for the company. Finally, Morgan Stanley upped 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. 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 data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $585.32.

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.

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