Capital International Investors Acquires 336,200 Shares of Spotify Technology S.A. (NYSE:SPOT)

Capital International Investors increased its holdings in Spotify Technology S.A. (NYSE:SPOT) by 2,063.7% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 352,491 shares of the company’s stock after buying an additional 336,200 shares during the quarter. Capital International Investors’ holdings in Spotify Technology were worth $158,027,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of SPOT. Thrivent Financial for Lutherans raised its holdings in shares of Spotify Technology by 566.1% during the fourth quarter. Thrivent Financial for Lutherans now owns 7,980 shares of the company’s stock valued at $3,541,000 after purchasing an additional 6,782 shares during the last quarter. Jennison Associates LLC purchased a new stake in Spotify Technology in the fourth quarter worth approximately $1,335,575,000. Marks Group Wealth Management Inc bought a new stake in Spotify Technology in the 4th quarter worth approximately $535,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in Spotify Technology during the 4th quarter valued at $214,000. Finally, Swedbank AB lifted its holdings in shares of Spotify Technology by 20.9% during the 4th quarter. Swedbank AB now owns 946,129 shares of the company’s stock valued at $423,279,000 after buying an additional 163,626 shares during the period. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SPOT shares. Guggenheim reissued a “buy” rating and issued a $675.00 target price on shares of Spotify Technology in a report on Monday, February 24th. China Renaissance assumed coverage on shares of Spotify Technology in a research report on Wednesday, March 26th. They set a “buy” rating and a $740.00 target price for the company. FBN Securities assumed coverage on shares of Spotify Technology in a research report on Friday, March 28th. They issued a “sector perform” rating and a $645.00 price target on the stock. KeyCorp cut their price objective on shares of Spotify Technology from $675.00 to $625.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $658.00 target price (up from $473.00) on shares of Spotify Technology in a research report on Wednesday, February 5th. Nine investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, Spotify Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $564.45.

Spotify Technology Price Performance

Shares of SPOT stock opened at $574.85 on Friday. The company has a market cap of $117.68 billion, a PE ratio of 96.61 and a beta of 1.75. Spotify Technology S.A. has a 1 year low of $267.76 and a 1 year high of $652.63. The stock’s 50 day simple moving average is $575.74 and its two-hundred day simple moving average is $499.73.

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.