Andra AP fonden Buys New Shares in Spotify Technology S.A. (NYSE:SPOT)

Andra AP fonden bought a new stake in shares of Spotify Technology S.A. (NYSE:SPOT) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,700 shares of the company’s stock, valued at approximately $1,655,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Aigen Investment Management LP raised its holdings in Spotify Technology by 42.4% during the third quarter. Aigen Investment Management LP now owns 9,800 shares of the company’s stock valued at $3,612,000 after acquiring an additional 2,918 shares during the period. Jennison Associates LLC bought a new stake in Spotify Technology during the fourth quarter valued at about $1,335,575,000. Marks Group Wealth Management Inc bought a new stake in Spotify Technology during the fourth quarter valued at about $535,000. Patriot Financial Group Insurance Agency LLC bought a new stake in Spotify Technology during the fourth quarter valued at about $214,000. Finally, Pathway Capital Management LP raised 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 acquiring an additional 11,042 shares during the period. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on SPOT. Wolfe Research reissued a “peer perform” rating on shares of Spotify Technology in a report on Friday, January 17th. Benchmark raised their price target on Spotify Technology from $600.00 to $720.00 and gave the company a “buy” rating in a report on Wednesday, February 5th. Barclays lifted their target price on Spotify Technology from $475.00 to $710.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Guggenheim reaffirmed a “buy” rating and issued a $675.00 target price on shares of Spotify Technology in a report on Monday, February 24th. Finally, Morgan Stanley lifted their target price on Spotify Technology from $550.00 to $670.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $529.43.

Spotify Technology Price Performance

Shares of SPOT stock opened at $531.15 on Monday. Spotify Technology S.A. has a 1-year low of $249.58 and a 1-year high of $652.63. The stock’s 50-day moving average is $547.82 and its 200 day moving average is $454.45. The company has a market cap of $108.73 billion, a P/E ratio of 89.27 and a beta of 1.66.

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.