Amundi Has $359.81 Million Stock Position in Spotify Technology S.A. (NYSE:SPOT)

Amundi boosted its position in Spotify Technology S.A. (NYSE:SPOT) by 194.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 750,030 shares of the company’s stock after purchasing an additional 495,087 shares during the quarter. Amundi’s holdings in Spotify Technology were worth $359,812,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Prestige Wealth Management Group LLC acquired a new position in Spotify Technology in the 3rd quarter worth about $26,000. Hobbs Group Advisors LLC bought a new stake in shares of Spotify Technology in the 3rd quarter valued at about $33,000. Larson Financial Group LLC grew its position in shares of Spotify Technology by 51.6% in the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock valued at $36,000 after buying an additional 33 shares during the last quarter. Rakuten Securities Inc. grew its position in shares of Spotify Technology by 40.5% in the 3rd quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock valued at $41,000 after buying an additional 32 shares during the last quarter. Finally, Quent Capital LLC grew its position in shares of Spotify Technology by 135.7% in the 4th quarter. Quent Capital LLC now owns 99 shares of the company’s stock valued at $44,000 after buying an additional 57 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Price Performance

NYSE:SPOT opened at $531.15 on Friday. Spotify Technology S.A. has a 1 year low of $249.58 and a 1 year high of $652.63. The business has a fifty day simple moving average of $547.82 and a two-hundred day simple moving average of $453.67. The company has a market capitalization of $108.73 billion, a P/E ratio of 89.27 and a beta of 1.66.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. TD Cowen upped their price target on Spotify Technology from $356.00 to $416.00 and gave the company a “hold” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group upped their price target on Spotify Technology from $550.00 to $695.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Bank of America upped their price target on Spotify Technology from $430.00 to $515.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Phillip Securities reiterated an “accumulate” rating and issued a $485.00 price target (up previously from $420.00) on shares of Spotify Technology in a research report on Wednesday, November 13th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $658.00 target price (up previously from $473.00) on shares of Spotify Technology in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Spotify Technology has an average rating of “Moderate Buy” and a consensus target price of $529.43.

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.