Teacher Retirement System of Texas Makes New $75.40 Million Investment in Spotify Technology S.A. (NYSE:SPOT)

Teacher Retirement System of Texas acquired a new stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 168,528 shares of the company's stock, valued at approximately $75,396,000. Teacher Retirement System of Texas owned 0.08% of Spotify Technology as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the company. Next Capital Management LLC acquired a new position in shares of Spotify Technology during the fourth quarter worth about $385,000. Trivest Advisors Ltd boosted its holdings in Spotify Technology by 1,593.0% in the 4th quarter. Trivest Advisors Ltd now owns 169,300 shares of the company's stock valued at $75,741,000 after purchasing an additional 159,300 shares in the last quarter. Harvest Fund Management Co. Ltd increased its position in Spotify Technology by 35.8% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 6,964 shares of the company's stock worth $3,114,000 after purchasing an additional 1,835 shares during the period. Vinva Investment Management Ltd purchased a new position in shares of Spotify Technology during the 4th quarter worth approximately $6,134,000. Finally, Brooklyn FI LLC acquired a new stake in shares of Spotify Technology in the 4th quarter valued at approximately $658,000. Hedge funds and other institutional investors own 84.09% of the company's stock.

Spotify Technology Stock Up 0.9 %

Shares of SPOT traded up $5.24 on Monday, hitting $605.18. 1,921,189 shares of the stock traded hands, compared to its average volume of 2,106,671. The firm has a market capitalization of $123.88 billion, a P/E ratio of 101.71 and a beta of 1.66. Spotify Technology S.A. has a 1 year low of $257.56 and a 1 year high of $652.63. The stock's 50 day moving average is $567.23 and its two-hundred day moving average is $470.02.

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Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Citigroup upped their price objective on Spotify Technology from $540.00 to $720.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. Benchmark upped their price target on shares of Spotify Technology from $600.00 to $720.00 and gave the stock a "buy" rating in a research note on Wednesday, February 5th. KeyCorp increased their price target on shares of Spotify Technology from $555.00 to $600.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Redburn Atlantic initiated coverage on shares of Spotify Technology in a report on Tuesday, March 11th. They set a "neutral" rating and a $545.00 price objective on the stock. Finally, Wells Fargo & Company upped their target price on shares of Spotify Technology from $520.00 to $690.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 5th. Eight equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, Spotify Technology currently has an average rating of "Moderate Buy" and an average target price of $540.68.

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.