Townsquare Capital LLC Grows Stock Position in Spotify Technology S.A. (NYSE:SPOT)

Townsquare Capital LLC grew its stake in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 437.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,338 shares of the company's stock after purchasing an additional 4,344 shares during the quarter. Townsquare Capital LLC's holdings in Spotify Technology were worth $2,388,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Jennison Associates LLC bought a new stake in shares of Spotify Technology in the 4th quarter valued at about $1,335,575,000. FMR LLC raised its stake in Spotify Technology by 30.2% in the fourth quarter. FMR LLC now owns 2,041,387 shares of the company's stock worth $913,276,000 after buying an additional 473,569 shares in the last quarter. Schroder Investment Management Group lifted its holdings in Spotify Technology by 0.4% during the fourth quarter. Schroder Investment Management Group now owns 1,912,937 shares of the company's stock worth $855,810,000 after buying an additional 7,075 shares during the period. GQG Partners LLC bought a new stake in Spotify Technology during the 4th quarter valued at $800,725,000. Finally, Geode Capital Management LLC raised its position in shares of Spotify Technology by 561.6% in the 4th quarter. Geode Capital Management LLC now owns 1,483,392 shares of the company's stock worth $659,841,000 after acquiring an additional 1,259,183 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Price Performance

SPOT traded up $11.78 on Friday, reaching $574.85. 1,731,552 shares of the company's stock were exchanged, compared to its average volume of 2,185,760. The stock has a market cap of $117.68 billion, a PE ratio of 96.61 and a beta of 1.75. Spotify Technology S.A. has a twelve month low of $267.76 and a twelve month high of $652.63. The stock's fifty day moving average price is $575.74 and its 200-day moving average price is $498.86.

Analyst Ratings Changes

Several research firms have issued reports on SPOT. Wolfe Research reiterated a "peer perform" rating on shares of Spotify Technology in a research note on Friday, January 17th. Benchmark boosted their price objective on shares of Spotify Technology from $600.00 to $720.00 and gave the stock a "buy" rating in a research note on Wednesday, February 5th. UBS Group lowered their target price on shares of Spotify Technology from $690.00 to $680.00 and set a "buy" rating for the company in a research note on Tuesday. Wells Fargo & Company upped their price target on Spotify Technology from $690.00 to $740.00 and gave the stock an "overweight" rating in a research report on Friday, March 28th. Finally, Barclays lifted their target price on shares of Spotify Technology from $475.00 to $710.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 5th. Nine research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. According to MarketBeat, Spotify Technology currently has an average rating of "Moderate Buy" and a consensus price target of $564.45.

About Spotify Technology

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.