Spotify Technology S.A. (NYSE:SPOT) Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC raised its holdings in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 49.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,016,587 shares of the company's stock after acquiring an additional 336,581 shares during the quarter. Spotify Technology makes up 0.7% of Renaissance Technologies LLC's holdings, making the stock its 12th largest holding. Renaissance Technologies LLC owned about 0.51% of Spotify Technology worth $454,802,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Rathbones Group PLC increased its holdings in Spotify Technology by 2.3% during the 4th quarter. Rathbones Group PLC now owns 1,364 shares of the company's stock worth $610,000 after purchasing an additional 31 shares during the period. Legal & General Group Plc grew its position in shares of Spotify Technology by 70.9% during the 4th quarter. Legal & General Group Plc now owns 1,039,371 shares of the company's stock worth $464,987,000 after buying an additional 431,251 shares in the last quarter. Trek Financial LLC purchased a new position in shares of Spotify Technology during the fourth quarter valued at $2,526,000. FMR LLC raised its holdings 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 acquiring an additional 473,569 shares in the last quarter. Finally, Benchmark Investment Advisors LLC purchased a new stake in Spotify Technology in the fourth quarter worth about $518,000. Hedge funds and other institutional investors own 84.09% of the company's stock.

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Spotify Technology Price Performance

SPOT stock traded down $9.78 during midday trading on Friday, hitting $543.24. 2,153,397 shares of the stock traded hands, compared to its average volume of 2,181,716. Spotify Technology S.A. has a 1-year low of $267.76 and a 1-year high of $652.63. The stock's fifty day simple moving average is $581.80 and its 200-day simple moving average is $493.82. The firm has a market cap of $111.21 billion, a P/E ratio of 91.30 and a beta of 1.75.

Analysts Set New Price Targets

Several equities research analysts have recently commented on SPOT shares. FBN Securities initiated coverage on shares of Spotify Technology in a report on Friday, March 28th. They issued a "sector perform" rating and a $645.00 price target for the company. KeyCorp reduced their price objective on shares of Spotify Technology from $675.00 to $625.00 and set an "overweight" rating for the company in a research note on Wednesday. Rosenblatt Securities reaffirmed a "neutral" rating and set a $658.00 target price (up previously from $473.00) on shares of Spotify Technology in a research report on Wednesday, February 5th. Citigroup boosted their price target on Spotify Technology from $540.00 to $720.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. Finally, China Renaissance initiated coverage on Spotify Technology in a research report on Wednesday, March 26th. They set a "buy" rating and a $740.00 price objective on the stock. Nine equities research 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.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $555.30.

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.