Invesco Ltd. Has $534.93 Million Stock Position in Spotify Technology S.A. (NYSE:SPOT)

Invesco Ltd. decreased its stake in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 12.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,195,688 shares of the company's stock after selling 167,581 shares during the quarter. Invesco Ltd. owned about 0.60% of Spotify Technology worth $534,927,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Jennison Associates LLC acquired a new stake in shares of Spotify Technology during the 4th quarter worth approximately $1,335,575,000. FMR LLC increased its stake in Spotify Technology by 30.2% during the fourth quarter. FMR LLC now owns 2,041,387 shares of the company's stock worth $913,276,000 after acquiring an additional 473,569 shares during the last quarter. Schroder Investment Management Group raised 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 purchasing an additional 7,075 shares during the period. GQG Partners LLC acquired a new position in shares of Spotify Technology in the 4th quarter valued at $800,725,000. Finally, Geode Capital Management LLC grew its holdings in shares of Spotify Technology by 561.6% during the 4th quarter. Geode Capital Management LLC now owns 1,483,392 shares of the company's stock worth $659,841,000 after purchasing an additional 1,259,183 shares during the period. Institutional investors and hedge funds own 84.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on SPOT. Macquarie upped their target price on shares of Spotify Technology from $500.00 to $600.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Guggenheim reaffirmed a "buy" rating and set a $675.00 price objective on shares of Spotify Technology in a research report on Monday, February 24th. KeyCorp dropped their target price on shares of Spotify Technology from $675.00 to $625.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. The Goldman Sachs Group upped their price target on Spotify Technology from $550.00 to $695.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Finally, Benchmark lifted their price objective on Spotify Technology from $600.00 to $720.00 and gave the company a "buy" rating in a research note on Wednesday, February 5th. Nine research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $555.30.

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Spotify Technology Trading Up 1.7 %

SPOT stock traded up $9.24 during midday trading on Monday, hitting $552.90. The stock had a trading volume of 741,164 shares, compared to its average volume of 2,176,168. The stock has a 50-day simple moving average of $581.80 and a 200 day simple moving average of $493.82. Spotify Technology S.A. has a 52 week low of $267.76 and a 52 week high of $652.63. The firm has a market capitalization of $113.18 billion, a price-to-earnings ratio of 92.92 and a beta of 1.75.

Spotify Technology Company 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.