Spotify Technology S.A. (NYSE:SPOT) Shares Acquired by Symmetry Investments LP

Symmetry Investments LP increased its position in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 386.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,700 shares of the company's stock after purchasing an additional 8,500 shares during the period. Symmetry Investments LP's holdings in Spotify Technology were worth $4,787,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Virtu Financial LLC purchased a new position in Spotify Technology in the third quarter valued at approximately $1,782,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Spotify Technology in the 3rd quarter valued at $1,477,000. Franklin Resources Inc. grew its position in shares of Spotify Technology by 2.6% in the 3rd quarter. Franklin Resources Inc. now owns 641,720 shares of the company's stock valued at $239,041,000 after buying an additional 16,511 shares during the last quarter. Garde Capital Inc. raised its stake in Spotify Technology by 14.6% during the 3rd quarter. Garde Capital Inc. now owns 432 shares of the company's stock worth $159,000 after acquiring an additional 55 shares in the last quarter. Finally, Oddo BHF Asset Management Sas purchased a new stake in Spotify Technology in the third quarter valued at $8,638,000. Institutional investors and hedge funds own 84.09% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on SPOT shares. Cantor Fitzgerald dropped their price objective on Spotify Technology from $600.00 to $520.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. China Renaissance started coverage on Spotify Technology in a research note on Wednesday, March 26th. They set a "buy" rating and a $740.00 price target on the stock. Guggenheim reaffirmed a "buy" rating and issued a $675.00 target price on shares of Spotify Technology in a report on Monday, February 24th. Canaccord Genuity Group increased 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. Finally, The Goldman Sachs Group lifted their price objective on shares of Spotify Technology from $550.00 to $695.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Seven investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $585.32.

Spotify Technology Price Performance

SPOT opened at $592.01 on Wednesday. The stock has a market cap of $121.19 billion, a P/E ratio of 99.50 and a beta of 1.75. Spotify Technology S.A. has a 1-year low of $271.65 and a 1-year high of $652.63. The stock's 50 day simple moving average is $573.00 and its 200 day simple moving average is $502.56.

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.

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