Spotify Technology S.A. (NYSE:SPOT) Shares Purchased by Fernbridge Capital Management LP

Fernbridge Capital Management LP lifted its position in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 59.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 141,501 shares of the company's stock after purchasing an additional 52,585 shares during the quarter. Spotify Technology makes up about 3.3% of Fernbridge Capital Management LP's investment portfolio, making the stock its 9th largest position. Fernbridge Capital Management LP owned 0.07% of Spotify Technology worth $63,305,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

SPOT has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on shares of Spotify Technology from $730.00 to $640.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Morgan Stanley boosted their price target on shares of Spotify Technology from $550.00 to $670.00 and gave the company an "overweight" rating in a research report on Wednesday, February 5th. FBN Securities started coverage on shares of Spotify Technology in a research note on Friday, March 28th. They set a "sector perform" rating and a $645.00 price objective on the stock. Macquarie lifted their target price on shares of Spotify Technology from $600.00 to $665.00 and gave the company an "outperform" rating in a research note on Friday. Finally, Rosenblatt Securities restated a "neutral" rating and set a $658.00 price target (up from $473.00) on shares of Spotify Technology in a research report on Wednesday, February 5th. Seven analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $596.26.

Spotify Technology Trading Up 2.5 %

NYSE SPOT opened at $621.16 on Friday. Spotify Technology S.A. has a 12 month low of $280.37 and a 12 month high of $652.63. The company has a market capitalization of $127.16 billion, a PE ratio of 104.40 and a beta of 1.75. The stock has a 50-day simple moving average of $571.23 and a 200 day simple moving average of $507.49.

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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