Kestra Investment Management LLC boosted its stake in shares of Spotify Technology S.A. (NYSE:SPOT – Free Report) by 31.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,773 shares of the company’s stock after purchasing an additional 656 shares during the quarter. Kestra Investment Management LLC’s holdings in Spotify Technology were worth $1,241,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Aigen Investment Management LP grew its holdings in shares of Spotify Technology by 42.4% during the third quarter. Aigen Investment Management LP now owns 9,800 shares of the company’s stock worth $3,612,000 after purchasing an additional 2,918 shares during the last quarter. Jennison Associates LLC bought a new stake in shares of Spotify Technology during the fourth quarter worth approximately $1,335,575,000. Marks Group Wealth Management Inc bought a new stake in shares of Spotify Technology during the 4th quarter valued at $535,000. Patriot Financial Group Insurance Agency LLC acquired a new position in Spotify Technology in the fourth quarter valued at about $214,000. Finally, Pathway Capital Management LP grew its holdings in Spotify Technology by 23.8% during the third quarter. Pathway Capital Management LP now owns 57,340 shares of the company’s stock valued at $21,132,000 after purchasing an additional 11,042 shares during the period. 84.09% of the stock is owned by institutional investors.
Spotify Technology Stock Performance
Shares of SPOT opened at $637.75 on Tuesday. Spotify Technology S.A. has a 52-week low of $239.66 and a 52-week high of $652.63. The firm has a market cap of $126.94 billion, a price-to-earnings ratio of 107.18 and a beta of 1.63. The business’s fifty day moving average is $508.35 and its 200-day moving average is $426.64.
Wall Street Analysts Forecast Growth
Check Out Our Latest Research Report on SPOT
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.
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