Fidelis Capital Partners LLC Invests $401,000 in Spotify Technology S.A. (NYSE:SPOT)

Fidelis Capital Partners LLC purchased a new stake in shares of Spotify Technology S.A. (NYSE:SPOT) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 897 shares of the company’s stock, valued at approximately $401,000.

Other institutional investors also recently modified their holdings of the company. WCM Investment Management LLC raised its position in Spotify Technology by 18.5% in the 3rd quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock worth $1,430,142,000 after buying an additional 605,755 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Spotify Technology by 3.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,492,170 shares of the company’s stock worth $1,286,969,000 after acquiring an additional 102,786 shares during the period. Jennison Associates LLC purchased a new position in shares of Spotify Technology during the fourth quarter valued at approximately $1,335,575,000. State Street Corp lifted its position in Spotify Technology by 1.5% during the third quarter. State Street Corp now owns 1,997,323 shares of the company’s stock valued at $736,073,000 after purchasing an additional 28,864 shares during the period. Finally, FMR LLC boosted its holdings in Spotify Technology by 23.4% in the third quarter. FMR LLC now owns 1,567,818 shares of the company’s stock worth $577,788,000 after purchasing an additional 297,035 shares during the last quarter. 84.09% of the stock is owned by hedge funds and other institutional investors.

Spotify Technology Price Performance

Spotify Technology stock opened at $581.48 on Wednesday. The stock has a market cap of $119.03 billion, a price-to-earnings ratio of 97.73 and a beta of 1.66. The firm has a 50-day moving average of $542.15 and a two-hundred day moving average of $450.05. Spotify Technology S.A. has a 1 year low of $249.58 and a 1 year high of $652.63.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SPOT shares. Cantor Fitzgerald reiterated a “neutral” rating and set a $480.00 target price (down from $490.00) on shares of Spotify Technology in a research note on Tuesday, January 28th. Barclays increased their target price on Spotify Technology from $475.00 to $710.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Morgan Stanley boosted their price target on Spotify Technology from $550.00 to $670.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Pivotal Research increased their price objective on shares of Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Macquarie raised their price objective on shares of Spotify Technology from $500.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $529.43.

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.