Atika Capital Management LLC Has $18.61 Million Holdings in Spotify Technology S.A. (NYSE:SPOT)

Atika Capital Management LLC increased its holdings in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 2.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,600 shares of the company's stock after buying an additional 900 shares during the period. Spotify Technology comprises about 2.0% of Atika Capital Management LLC's holdings, making the stock its 11th largest position. Atika Capital Management LLC's holdings in Spotify Technology were worth $18,611,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Spotify Technology by 34.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,189 shares of the company's stock valued at $807,000 after buying an additional 565 shares during the period. HighTower Advisors LLC raised its stake in Spotify Technology by 25.2% during the third quarter. HighTower Advisors LLC now owns 16,549 shares of the company's stock worth $6,073,000 after purchasing an additional 3,330 shares during the period. Integrated Wealth Concepts LLC increased its holdings in shares of Spotify Technology by 5.6% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 1,743 shares of the company's stock worth $642,000 after buying an additional 93 shares during the last quarter. Royal London Asset Management Ltd. boosted its holdings in Spotify Technology by 6.8% in the third quarter. Royal London Asset Management Ltd. now owns 62,661 shares of the company's stock valued at $23,092,000 after acquiring an additional 3,984 shares during the last quarter. Finally, Quantinno Capital Management LP increased its stake in Spotify Technology by 14.2% during the third quarter. Quantinno Capital Management LP now owns 9,500 shares of the company's stock worth $3,501,000 after acquiring an additional 1,180 shares during the last quarter. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

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Spotify Technology Stock Down 0.9 %

Shares of NYSE:SPOT traded down $5.21 during trading on Friday, reaching $547.81. 956,857 shares of the company traded hands, compared to its average volume of 2,169,936. Spotify Technology S.A. has a 1-year low of $267.76 and a 1-year high of $652.63. The firm has a market cap of $112.14 billion, a P/E ratio of 92.33 and a beta of 1.75. The firm has a fifty day simple moving average of $583.39 and a 200 day simple moving average of $491.92.

Wall Street Analyst Weigh In

SPOT has been the subject of several research reports. Wolfe Research reiterated a "peer perform" rating on shares of Spotify Technology in a research note on Friday, January 17th. Guggenheim reiterated a "buy" rating and issued a $675.00 target price on shares of Spotify Technology in a research note on Monday, February 24th. Cantor Fitzgerald reiterated a "neutral" rating and set a $480.00 price objective (down previously from $490.00) on shares of Spotify Technology in a research note on Tuesday, January 28th. Citigroup upped their target price on shares of Spotify Technology from $540.00 to $720.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. Finally, Canaccord Genuity Group lifted their price target on shares of Spotify Technology from $650.00 to $700.00 and gave the stock a "buy" rating in a research note on Wednesday, February 5th. Nine analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average 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.