Legal & General Group Plc boosted its holdings in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 70.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,039,371 shares of the company's stock after purchasing an additional 431,251 shares during the quarter. Legal & General Group Plc owned about 0.52% of Spotify Technology worth $464,987,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in SPOT. HighTower Advisors LLC raised its position in shares of Spotify Technology by 25.2% in the 3rd quarter. HighTower Advisors LLC now owns 16,549 shares of the company's stock worth $6,073,000 after purchasing an additional 3,330 shares during the last quarter. Integrated Wealth Concepts LLC increased its stake in Spotify Technology by 5.6% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 1,743 shares of the company's stock valued at $642,000 after purchasing an additional 93 shares in the last quarter. Quantinno Capital Management LP raised its holdings in Spotify Technology by 14.2% in the third quarter. Quantinno Capital Management LP now owns 9,500 shares of the company's stock worth $3,501,000 after buying an additional 1,180 shares during the last quarter. Stifel Financial Corp lifted its stake in shares of Spotify Technology by 16.2% in the third quarter. Stifel Financial Corp now owns 64,083 shares of the company's stock worth $23,617,000 after buying an additional 8,919 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Spotify Technology by 1.5% during the third quarter. State Street Corp now owns 1,997,323 shares of the company's stock valued at $736,073,000 after buying an additional 28,864 shares during the last quarter. Institutional investors own 84.09% of the company's stock.
Spotify Technology Stock Down 1.8 %
NYSE SPOT traded down $9.78 during trading hours on Friday, reaching $543.24. The company's stock had a trading volume of 2,153,397 shares, compared to its average volume of 2,181,716. Spotify Technology S.A. has a 1 year low of $267.76 and a 1 year high of $652.63. The firm's 50-day moving average price is $581.80 and its 200-day moving average price is $493.82. The company has a market capitalization of $111.21 billion, a price-to-earnings ratio of 91.30 and a beta of 1.75.
Wall Street Analysts Forecast Growth
SPOT has been the topic of several analyst reports. The Goldman Sachs Group upped their price objective on Spotify Technology from $550.00 to $695.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. FBN Securities began coverage on shares of Spotify Technology in a report on Friday, March 28th. They set a "sector perform" rating and a $645.00 price objective for the company. Guggenheim restated a "buy" rating and issued a $675.00 target price on shares of Spotify Technology in a report on Monday, February 24th. Barclays boosted their target price on shares of Spotify Technology from $475.00 to $710.00 and gave the company an "overweight" rating in a research note on Wednesday, February 5th. Finally, JPMorgan Chase & Co. dropped their price target on Spotify Technology from $730.00 to $640.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $555.30.
Get Our Latest Analysis on Spotify Technology
About Spotify Technology
(
Free Report)
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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