521 Shares in Spotify Technology S.A. (NYSE:SPOT) Bought by QRG Capital Management Inc.

QRG Capital Management Inc. acquired a new stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 521 shares of the company's stock, valued at approximately $233,000.

Other large investors also recently added to or reduced their stakes in the company. Aigen Investment Management LP boosted its position in Spotify Technology by 42.4% in the 3rd quarter. Aigen Investment Management LP now owns 9,800 shares of the company's stock valued at $3,612,000 after buying an additional 2,918 shares during the period. Jennison Associates LLC purchased a new stake in shares of Spotify Technology in the 4th quarter worth approximately $1,335,575,000. Marks Group Wealth Management Inc purchased a new stake in shares of Spotify Technology in the 4th quarter worth approximately $535,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of Spotify Technology in the 4th quarter worth approximately $214,000. Finally, Pathway Capital Management LP lifted its position in shares of Spotify Technology by 23.8% in the 3rd quarter. Pathway Capital Management LP now owns 57,340 shares of the company's stock worth $21,132,000 after purchasing an additional 11,042 shares during the period. 84.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SPOT shares. Barclays upped their price target on shares of Spotify Technology from $475.00 to $710.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 5th. Morgan Stanley upped their price target on shares of Spotify Technology from $550.00 to $670.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 5th. Bank of America upped their price target on shares of Spotify Technology from $430.00 to $515.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Piper Sandler upped their price target on shares of Spotify Technology from $330.00 to $450.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 13th. Finally, Wolfe Research reissued a "peer perform" rating on shares of Spotify Technology in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $529.43.

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Spotify Technology Stock Down 2.3 %

Shares of NYSE:SPOT traded down $12.26 during midday trading on Friday, reaching $531.15. The company's stock had a trading volume of 3,825,546 shares, compared to its average volume of 2,194,643. The firm has a market capitalization of $108.73 billion, a PE ratio of 89.27 and a beta of 1.66. Spotify Technology S.A. has a twelve month low of $249.58 and a twelve month high of $652.63. The stock has a fifty day moving average of $547.82 and a 200 day moving average of $454.45.

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.