Spotify Technology S.A. (NYSE:SPOT) Shares Bought by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC boosted its stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 18.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,598 shares of the company's stock after purchasing an additional 3,536 shares during the period. O Shaughnessy Asset Management LLC's holdings in Spotify Technology were worth $10,110,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in SPOT. Jennison Associates LLC acquired a new stake in shares of Spotify Technology in the fourth quarter valued at about $1,335,575,000. State Street Corp boosted its holdings in Spotify Technology by 1.5% in the 3rd quarter. State Street Corp now owns 1,997,323 shares of the company's stock worth $736,073,000 after acquiring an additional 28,864 shares during the period. Schroder Investment Management Group grew its position in Spotify Technology by 0.4% in the fourth quarter. Schroder Investment Management Group now owns 1,912,937 shares of the company's stock valued at $855,810,000 after acquiring an additional 7,075 shares in the last quarter. GQG Partners LLC purchased a new stake in shares of Spotify Technology during the fourth quarter valued at approximately $800,725,000. Finally, Forsta AP Fonden acquired a new position in shares of Spotify Technology during the fourth quarter worth $619,600,000. 84.09% of the stock is owned by hedge funds and other institutional investors.

Spotify Technology Price Performance

Shares of NYSE SPOT traded down $55.52 during midday trading on Friday, reaching $502.90. 4,146,568 shares of the company traded hands, compared to its average volume of 2,155,577. The company has a market cap of $102.95 billion, a price-to-earnings ratio of 84.52 and a beta of 1.75. The stock has a 50-day moving average price of $583.28 and a 200 day moving average price of $485.42. Spotify Technology S.A. has a 52 week low of $267.76 and a 52 week high of $652.63.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SPOT. Morgan Stanley lifted their price target on shares of Spotify Technology from $550.00 to $670.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 5th. Guggenheim reiterated a "buy" rating and issued a $675.00 price target on shares of Spotify Technology in a research note on Monday, February 24th. Citigroup raised their price objective on Spotify Technology from $540.00 to $720.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. The Goldman Sachs Group upped their target price on Spotify Technology from $550.00 to $695.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Finally, Rosenblatt Securities reissued a "neutral" rating and set a $658.00 price target (up previously from $473.00) on shares of Spotify Technology in a research report on Wednesday, February 5th. Nine research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $557.47.

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.