Zevenbergen Capital Investments LLC Buys 6,140 Shares of Spotify Technology S.A. (NYSE:SPOT)

Zevenbergen Capital Investments LLC grew its position in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 3.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 165,331 shares of the company's stock after buying an additional 6,140 shares during the quarter. Spotify Technology accounts for approximately 1.5% of Zevenbergen Capital Investments LLC's holdings, making the stock its 22nd largest position. Zevenbergen Capital Investments LLC owned approximately 0.08% of Spotify Technology worth $73,966,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Jennison Associates LLC bought a new position in shares of Spotify Technology in the fourth quarter worth approximately $1,335,575,000. State Street Corp increased its holdings in shares of Spotify Technology by 1.5% in the third quarter. State Street Corp now owns 1,997,323 shares of the company's stock worth $736,073,000 after purchasing an additional 28,864 shares during the last quarter. FMR LLC lifted its position in shares of Spotify Technology by 23.4% in 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 in the last quarter. Forsta AP Fonden bought a new position in Spotify Technology during the fourth quarter valued at $619,600,000. Finally, Two Sigma Advisers LP lifted its stake in shares of Spotify Technology by 19.0% in the 3rd quarter. Two Sigma Advisers LP now owns 980,000 shares of the company's stock valued at $361,159,000 after purchasing an additional 156,300 shares during the last quarter. 84.09% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. China Renaissance began coverage on shares of Spotify Technology in a research report on Wednesday. They issued a "buy" rating and a $740.00 price objective on the stock. KeyCorp lifted their price objective on Spotify Technology from $555.00 to $600.00 and gave the company an "overweight" rating in a report on Friday, January 31st. The Goldman Sachs Group increased their target price on shares of Spotify Technology from $550.00 to $695.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. FBN Securities began coverage on shares of Spotify Technology in a report on Friday. They issued a "sector perform" rating and a $645.00 price target for the company. Finally, Morgan Stanley increased 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. Nine equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $552.47.

Spotify Technology Stock Performance

Shares of NYSE:SPOT traded down $20.46 during trading on Friday, reaching $559.76. The company had a trading volume of 1,919,973 shares, compared to its average volume of 2,157,099. Spotify Technology S.A. has a twelve month low of $260.80 and a twelve month high of $652.63. The firm has a market capitalization of $114.59 billion, a PE ratio of 94.08 and a beta of 1.66. The firm's fifty day moving average is $578.28 and its 200 day moving average is $477.12.

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.