Geode Capital Management LLC Has $659.84 Million Stake in Spotify Technology S.A. (NYSE:SPOT)

Geode Capital Management LLC lifted its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 561.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,483,392 shares of the company’s stock after acquiring an additional 1,259,183 shares during the quarter. Geode Capital Management LLC’s holdings in Spotify Technology were worth $659,841,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SPOT. Prestige Wealth Management Group LLC acquired a new stake in Spotify Technology during the 3rd quarter worth approximately $26,000. Hillsdale Investment Management Inc. bought a new position in Spotify Technology during the 4th quarter worth $27,000. Hobbs Group Advisors LLC acquired a new stake in shares of Spotify Technology during the third quarter worth $33,000. Quent Capital LLC lifted its holdings in shares of Spotify Technology by 135.7% during the fourth quarter. Quent Capital LLC now owns 99 shares of the company’s stock worth $44,000 after buying an additional 57 shares in the last quarter. Finally, Noble Wealth Management PBC bought a new stake in shares of Spotify Technology in the fourth quarter valued at about $52,000. 84.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on SPOT shares. UBS Group lowered their price target on shares of Spotify Technology from $720.00 to $690.00 and set a “buy” rating on the stock in a research report on Wednesday. Wells Fargo & Company lifted their price target on shares of Spotify Technology from $690.00 to $740.00 and gave the company an “overweight” rating in a research report on Friday, March 28th. The Goldman Sachs Group increased their price target on Spotify Technology from $550.00 to $695.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Guggenheim reaffirmed a “buy” rating and issued a $675.00 price objective on shares of Spotify Technology in a report on Monday, February 24th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $480.00 target price (down from $490.00) on shares of Spotify Technology in a report on Tuesday, January 28th. Nine analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $557.47.

Spotify Technology Stock Down 1.2 %

NYSE SPOT opened at $558.48 on Friday. Spotify Technology S.A. has a twelve month low of $267.76 and a twelve month high of $652.63. The business’s fifty day moving average is $583.45 and its 200 day moving average is $483.28. The company has a market cap of $114.32 billion, a price-to-earnings ratio of 93.86 and a beta of 1.75.

About Spotify Technology

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.