Schroder Investment Management Group Boosts Position in Spotify Technology S.A. (NYSE:SPOT)

Schroder Investment Management Group lifted its position in Spotify Technology S.A. (NYSE:SPOT) by 0.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,912,937 shares of the company’s stock after purchasing an additional 7,075 shares during the quarter. Spotify Technology comprises about 0.8% of Schroder Investment Management Group’s holdings, making the stock its 21st biggest holding. Schroder Investment Management Group’s holdings in Spotify Technology were worth $855,810,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Intech Investment Management LLC boosted its stake in Spotify Technology by 57.0% during the third quarter. Intech Investment Management LLC now owns 1,699 shares of the company’s stock worth $626,000 after buying an additional 617 shares during the period. Larson Financial Group LLC boosted its position in shares of Spotify Technology by 51.6% during the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock worth $36,000 after purchasing an additional 33 shares during the period. Townsquare Capital LLC increased its holdings in Spotify Technology by 7.8% in the 3rd quarter. Townsquare Capital LLC now owns 994 shares of the company’s stock valued at $366,000 after purchasing an additional 72 shares during the last quarter. CreativeOne Wealth LLC raised its position in Spotify Technology by 40.1% in the third quarter. CreativeOne Wealth LLC now owns 1,669 shares of the company’s stock valued at $615,000 after purchasing an additional 478 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Spotify Technology by 34.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,189 shares of the company’s stock worth $807,000 after purchasing an additional 565 shares in the last quarter. 84.09% of the stock is owned by hedge funds and other institutional investors.

Spotify Technology Stock Performance

SPOT opened at $559.76 on Friday. The stock has a market capitalization of $114.59 billion, a P/E ratio of 94.08 and a beta of 1.66. Spotify Technology S.A. has a one year low of $260.80 and a one year high of $652.63. The business’s 50-day simple moving average is $578.28 and its 200-day simple moving average is $478.17.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on SPOT shares. FBN Securities assumed coverage on Spotify Technology in a report on Friday. They issued a “sector perform” rating and a $645.00 price objective on the stock. Citigroup boosted their price target on shares of Spotify Technology from $540.00 to $720.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Benchmark raised their price objective on shares of Spotify Technology from $600.00 to $720.00 and gave the company a “buy” rating in a research note on Wednesday, February 5th. Cantor Fitzgerald reiterated 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. Finally, The Goldman Sachs Group boosted their price target on shares of Spotify Technology from $550.00 to $695.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Nine research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat.com, Spotify Technology currently has a consensus rating of “Moderate Buy” and an average price target of $552.47.

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.