Xponance Inc. Has $9.44 Million Position in Spotify Technology S.A. (NYSE:SPOT)

Xponance Inc. lifted its position in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 8.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,097 shares of the company's stock after buying an additional 1,711 shares during the quarter. Xponance Inc.'s holdings in Spotify Technology were worth $9,438,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Jennison Associates LLC purchased a new stake in Spotify Technology in the 4th quarter worth about $1,335,575,000. Marks Group Wealth Management Inc bought a new stake in Spotify Technology in the fourth quarter valued at approximately $535,000. Patriot Financial Group Insurance Agency LLC bought a new stake in Spotify Technology in the 4th quarter worth $214,000. Covenant Asset Management LLC purchased a new position in shares of Spotify Technology in the third quarter valued at about $3,364,000. Finally, Kestra Investment Management LLC purchased a new position in shares of Spotify Technology in the third quarter valued at about $780,000. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Stock Up 0.9 %

NYSE SPOT traded up $5.09 during trading on Friday, hitting $599.64. The company's stock had a trading volume of 2,543,337 shares, compared to its average volume of 2,107,412. The firm has a 50 day moving average price of $567.23 and a 200 day moving average price of $469.03. The firm has a market cap of $122.75 billion, a P/E ratio of 100.78 and a beta of 1.66. Spotify Technology S.A. has a 52 week low of $257.56 and a 52 week high of $652.63.

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Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SPOT. Redburn Atlantic initiated coverage on shares of Spotify Technology in a report on Tuesday, March 11th. They issued a "neutral" rating and a $545.00 price objective on the stock. Rosenblatt Securities reissued a "neutral" rating and issued a $658.00 price objective (up from $473.00) on shares of Spotify Technology in a research note on Wednesday, February 5th. Canaccord Genuity Group raised their target price on shares of Spotify Technology from $650.00 to $700.00 and gave the company a "buy" rating in a research note on Wednesday, February 5th. KeyCorp increased their price objective on shares of Spotify Technology from $555.00 to $600.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Finally, Wolfe Research reiterated a "peer perform" rating on shares of Spotify Technology in a research report on Friday, January 17th. Eight equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $540.68.

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.