Vinva Investment Management Ltd purchased a new position in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 13,576 shares of the company's stock, valued at approximately $6,134,000.
Other institutional investors have also modified their holdings of the company. Jennison Associates LLC purchased a new stake in Spotify Technology in the 4th quarter valued at about $1,335,575,000. Marks Group Wealth Management Inc acquired a new stake in shares of Spotify Technology in the fourth quarter worth approximately $535,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in Spotify Technology in the fourth quarter valued at approximately $214,000. Covenant Asset Management LLC purchased a new stake in Spotify Technology in the third quarter valued at approximately $3,364,000. Finally, Kestra Investment Management LLC acquired a new position in Spotify Technology during the third quarter worth approximately $780,000. Institutional investors and hedge funds own 84.09% of the company's stock.
Spotify Technology Trading Up 0.9 %
Spotify Technology stock traded up $5.09 during midday trading on Friday, hitting $599.64. The stock had a trading volume of 2,543,337 shares, compared to its average volume of 2,107,412. The business has a fifty day moving average price of $567.23 and a 200 day moving average price of $469.03. Spotify Technology S.A. has a 12 month low of $257.56 and a 12 month high of $652.63. The stock has a market cap of $122.75 billion, a P/E ratio of 100.78 and a beta of 1.66.
Analyst Ratings Changes
A number of brokerages have weighed in on SPOT. The Goldman Sachs Group lifted their price target on shares of Spotify Technology from $550.00 to $695.00 and gave the company a "buy" rating in a report on Thursday, February 6th. UBS Group lifted their target price on Spotify Technology from $485.00 to $540.00 and gave the company a "buy" rating in a report on Wednesday, January 15th. Wells Fargo & Company upped their price target on Spotify Technology from $520.00 to $690.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 5th. Redburn Atlantic began coverage on Spotify Technology in a research note on Tuesday, March 11th. They issued a "neutral" rating and a $545.00 price objective on the stock. Finally, Guggenheim reiterated a "buy" rating and set a $675.00 target price on shares of Spotify Technology in a report on Monday, February 24th. Eight investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $540.68.
Read Our Latest Research Report 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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