Spotify Technology S.A. (NYSE:SPOT) Shares Purchased by Zevenbergen Capital Investments LLC

Zevenbergen Capital Investments LLC boosted its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 3.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 165,331 shares of the company’s stock after purchasing an additional 6,140 shares during the period. Spotify Technology accounts for 1.5% of Zevenbergen Capital Investments LLC’s investment portfolio, making the stock its 22nd biggest holding. Zevenbergen Capital Investments LLC owned 0.08% of Spotify Technology worth $73,966,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jennison Associates LLC purchased a new position in Spotify Technology during the 4th quarter worth approximately $1,335,575,000. State Street Corp boosted its stake in shares of Spotify Technology by 1.5% during the 3rd quarter. State Street Corp now owns 1,997,323 shares of the company’s stock valued at $736,073,000 after buying an additional 28,864 shares during the period. FMR LLC boosted its stake in shares of Spotify Technology by 23.4% during the 3rd quarter. FMR LLC now owns 1,567,818 shares of the company’s stock valued at $577,788,000 after buying an additional 297,035 shares during the period. Forsta AP Fonden acquired a new stake in shares of Spotify Technology during the 4th quarter valued at $619,600,000. Finally, Two Sigma Advisers LP boosted its stake in shares of Spotify Technology by 19.0% during the 3rd quarter. Two Sigma Advisers LP now owns 980,000 shares of the company’s stock valued at $361,159,000 after buying an additional 156,300 shares during the period. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on SPOT. Redburn Atlantic began coverage on shares of Spotify Technology in a research note on Tuesday, March 11th. They issued a “neutral” rating and a $545.00 price objective for the company. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $480.00 price objective (down previously from $490.00) on shares of Spotify Technology in a research note on Tuesday, January 28th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $658.00 price objective (up previously from $473.00) on shares of Spotify Technology in a research note on Wednesday, February 5th. Benchmark boosted their target price 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. Finally, Barclays boosted their target price on shares of Spotify Technology from $475.00 to $710.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Eight equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $540.68.

Spotify Technology Trading Up 0.9 %

Shares of SPOT stock opened at $599.64 on Monday. Spotify Technology S.A. has a 1 year low of $257.56 and a 1 year high of $652.63. The firm’s 50 day moving average is $567.23 and its 200-day moving average is $470.02. The firm has a market capitalization of $122.75 billion, a price-to-earnings ratio of 100.78 and a beta of 1.66.

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.