Spotify Technology S.A. (NYSE:SPOT) Shares Bought by Jones Financial Companies Lllp

Jones Financial Companies Lllp lifted its position in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 58.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,733 shares of the company's stock after purchasing an additional 642 shares during the period. Jones Financial Companies Lllp's holdings in Spotify Technology were worth $775,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jennison Associates LLC acquired a new stake in shares of Spotify Technology during the fourth quarter worth about $1,335,575,000. Forsta AP Fonden acquired a new stake in shares of Spotify Technology during the fourth quarter worth about $619,600,000. WCM Investment Management LLC boosted its stake in shares of Spotify Technology by 18.5% during the third quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company's stock worth $1,430,142,000 after buying an additional 605,755 shares during the period. FMR LLC boosted its stake in shares of Spotify Technology by 23.4% during the third quarter. FMR LLC now owns 1,567,818 shares of the company's stock worth $577,788,000 after buying an additional 297,035 shares during the period. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Spotify Technology during the fourth quarter worth about $125,694,000. Institutional investors and hedge funds own 84.09% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SPOT. Guggenheim reiterated a "buy" rating and set a $675.00 price target 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 target (down from $490.00) on shares of Spotify Technology in a research note on Tuesday, January 28th. Wells Fargo & Company boosted their price target on shares of Spotify Technology from $520.00 to $690.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 5th. Phillip Securities reiterated an "accumulate" rating and set a $485.00 price target (up from $420.00) on shares of Spotify Technology in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Spotify Technology from $555.00 to $730.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $529.43.

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Spotify Technology Trading Down 2.3 %

Shares of Spotify Technology stock traded down $12.26 during mid-day trading on Friday, hitting $531.15. 3,825,546 shares of the stock were exchanged, compared to its average volume of 2,194,643. Spotify Technology S.A. has a twelve month low of $249.58 and a twelve month high of $652.63. The stock has a market capitalization of $108.73 billion, a price-to-earnings ratio of 89.27 and a beta of 1.66. The company has a 50-day simple moving average of $547.82 and a 200 day simple moving average of $453.67.

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.