Spotify Technology S.A. (NYSE:SPOT) Shares Purchased by Blueshift Asset Management LLC

Blueshift Asset Management LLC grew its holdings in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 83.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,938 shares of the company's stock after acquiring an additional 1,791 shares during the period. Spotify Technology comprises about 0.6% of Blueshift Asset Management LLC's investment portfolio, making the stock its 27th biggest position. Blueshift Asset Management LLC's holdings in Spotify Technology were worth $1,762,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Jennison Associates LLC bought a new position in shares of Spotify Technology during the 4th quarter valued at approximately $1,335,575,000. Marks Group Wealth Management Inc purchased a new stake in Spotify Technology during the fourth quarter valued at $535,000. Patriot Financial Group Insurance Agency LLC bought a new position in Spotify Technology during the fourth quarter valued at $214,000. Covenant Asset Management LLC purchased a new position in shares of Spotify Technology in the 3rd quarter worth $3,364,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Spotify Technology in the 3rd quarter worth about $780,000. Institutional investors own 84.09% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on SPOT. Benchmark lifted their price target on Spotify Technology from $600.00 to $720.00 and gave the stock a "buy" rating in a research report on Wednesday, February 5th. Barclays lifted their target price on Spotify Technology from $475.00 to $710.00 and gave the stock an "overweight" rating in a report on Wednesday, February 5th. Rosenblatt Securities restated a "neutral" rating and set a $658.00 price target (up previously from $473.00) on shares of Spotify Technology in a report on Wednesday, February 5th. Wells Fargo & Company raised their price target on Spotify Technology from $520.00 to $690.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 5th. Finally, Canaccord Genuity Group boosted their price objective on shares of Spotify Technology from $650.00 to $700.00 and gave the company a "buy" rating in a research report on Wednesday, February 5th. Eight equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. Based on data from MarketBeat.com, Spotify Technology currently has a consensus rating of "Moderate Buy" and an average target price of $540.68.

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Spotify Technology Price Performance

Spotify Technology stock traded up $5.24 during trading hours on Monday, reaching $605.18. The stock had a trading volume of 1,921,189 shares, compared to its average volume of 2,106,674. Spotify Technology S.A. has a 52 week low of $257.56 and a 52 week high of $652.63. The company has a market cap of $123.88 billion, a price-to-earnings ratio of 101.71 and a beta of 1.66. The business's 50 day moving average price is $570.20 and its 200-day moving average price is $471.97.

Spotify Technology 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.