LVZ Inc. Grows Stock Position in Spotify Technology S.A. (NYSE:SPOT)

LVZ Inc. lifted its holdings in Spotify Technology S.A. (NYSE:SPOT) by 13.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,051 shares of the company’s stock after buying an additional 125 shares during the period. LVZ Inc.’s holdings in Spotify Technology were worth $470,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. WCM Investment Management LLC grew its holdings in Spotify Technology by 18.5% during the third quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock valued at $1,430,142,000 after purchasing an additional 605,755 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Spotify Technology by 3.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,492,170 shares of the company’s stock valued at $1,286,969,000 after acquiring an additional 102,786 shares during the period. Jennison Associates LLC purchased a new stake in Spotify Technology in the 4th quarter worth approximately $1,335,575,000. State Street Corp increased its holdings in Spotify Technology by 1.5% in the 3rd quarter. State Street Corp now owns 1,997,323 shares of the company’s stock worth $736,073,000 after acquiring an additional 28,864 shares in the last quarter. Finally, FMR LLC raised its stake in Spotify Technology by 23.4% during the 3rd quarter. FMR LLC now owns 1,567,818 shares of the company’s stock worth $577,788,000 after acquiring an additional 297,035 shares during the period. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on SPOT. Benchmark upped their price target on shares of Spotify Technology from $600.00 to $720.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. Citigroup upped their target price on shares of Spotify Technology from $540.00 to $720.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Morgan Stanley raised their price target on Spotify Technology from $550.00 to $670.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Pivotal Research upped their price objective on Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. increased their target price on Spotify Technology from $555.00 to $730.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $529.43.

Spotify Technology Stock Performance

NYSE:SPOT opened at $581.48 on Wednesday. The firm has a market capitalization of $119.03 billion, a PE ratio of 97.73 and a beta of 1.66. The stock’s fifty day moving average is $542.15 and its 200 day moving average is $450.05. Spotify Technology S.A. has a fifty-two week low of $249.58 and a fifty-two week high of $652.63.

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.