Schroder Investment Management Group Buys 7,075 Shares of Spotify Technology S.A. (NYSE:SPOT)

Schroder Investment Management Group boosted its holdings in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 0.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,912,937 shares of the company's stock after buying an additional 7,075 shares during the period. Spotify Technology makes up about 0.8% of Schroder Investment Management Group's holdings, making the stock its 21st largest holding. Schroder Investment Management Group owned 0.96% of Spotify Technology worth $855,810,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Auxano Advisors LLC raised its position in shares of Spotify Technology by 2.5% during the 4th quarter. Auxano Advisors LLC now owns 828 shares of the company's stock valued at $370,000 after buying an additional 20 shares in the last quarter. SRS Capital Advisors Inc. raised its position in Spotify Technology by 4.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 573 shares of the company's stock valued at $256,000 after purchasing an additional 25 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in Spotify Technology by 5.4% during the fourth quarter. First Horizon Advisors Inc. now owns 504 shares of the company's stock worth $225,000 after purchasing an additional 26 shares during the last quarter. Harbour Investments Inc. boosted its holdings in shares of Spotify Technology by 13.3% in the 4th quarter. Harbour Investments Inc. now owns 222 shares of the company's stock worth $99,000 after purchasing an additional 26 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. increased its position in shares of Spotify Technology by 1.9% during the 4th quarter. Cookson Peirce & Co. Inc. now owns 1,467 shares of the company's stock valued at $656,000 after purchasing an additional 27 shares during the last quarter. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

SPOT has been the subject of a number of recent research reports. The Goldman Sachs Group boosted their target price on Spotify Technology from $550.00 to $695.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Wells Fargo & Company upped their price objective on shares of Spotify Technology from $690.00 to $740.00 and gave the company an "overweight" rating in a research note on Friday, March 28th. Citigroup increased their target price on shares of 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 research note on Friday, January 17th. Finally, FBN Securities assumed coverage on shares of Spotify Technology in a research report on Friday, March 28th. They set a "sector perform" rating and a $645.00 price target for the company. Nine analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $557.47.

Spotify Technology Stock Down 0.8 %

Shares of SPOT stock traded down $4.79 during mid-day trading on Thursday, reaching $560.62. 1,217,215 shares of the company's stock traded hands, compared to its average volume of 2,159,796. The company's 50-day moving average price is $582.30 and its 200-day moving average price is $482.76. The company has a market cap of $114.76 billion, a P/E ratio of 94.22 and a beta of 1.66. Spotify Technology S.A. has a 12 month low of $267.76 and a 12 month high of $652.63.

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.