California State Teachers Retirement System Has $82.49 Million Position in Spotify Technology S.A. (NYSE:SPOT)

California State Teachers Retirement System grew its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 1,608.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 184,377 shares of the company’s stock after buying an additional 173,583 shares during the quarter. California State Teachers Retirement System’s holdings in Spotify Technology were worth $82,487,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of SPOT. Auxano Advisors LLC raised its holdings in Spotify Technology by 2.5% in the 4th quarter. Auxano Advisors LLC now owns 828 shares of the company’s stock valued at $370,000 after acquiring an additional 20 shares during the period. SRS Capital Advisors Inc. boosted its position in shares of Spotify Technology by 4.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 573 shares of the company’s stock valued at $256,000 after buying an additional 25 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in shares of Spotify Technology by 5.4% in the fourth quarter. First Horizon Advisors Inc. now owns 504 shares of the company’s stock valued at $225,000 after purchasing an additional 26 shares during the last quarter. Harbour Investments Inc. increased its position in shares of Spotify Technology by 13.3% during the 4th quarter. Harbour Investments Inc. now owns 222 shares of the company’s stock valued at $99,000 after purchasing an additional 26 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. boosted its position in Spotify Technology by 1.9% during the fourth quarter. Cookson Peirce & Co. Inc. now owns 1,467 shares of the company’s stock worth $656,000 after purchasing an additional 27 shares during the period. 84.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on SPOT shares. Cantor Fitzgerald dropped their price objective on shares of Spotify Technology from $600.00 to $520.00 and set a “neutral” rating for the company in a report on Wednesday, April 16th. Barclays lifted 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. China Renaissance assumed coverage on shares of Spotify Technology in a research report on Wednesday, March 26th. They issued a “buy” rating and a $740.00 target price on the stock. UBS Group dropped their price target on shares of Spotify Technology from $690.00 to $680.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Finally, Benchmark increased their target price on Spotify Technology from $600.00 to $720.00 and gave the company a “buy” rating in a report on Wednesday, February 5th. Seven investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $596.26.

Spotify Technology Price Performance

NYSE SPOT opened at $597.27 on Tuesday. The stock’s 50-day moving average is $570.33 and its two-hundred day moving average is $509.96. The firm has a market cap of $122.27 billion, a P/E ratio of 100.38 and a beta of 1.75. Spotify Technology S.A. has a fifty-two week low of $280.37 and a fifty-two week high of $652.63.

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.