Axiom Investors LLC DE Increases Holdings in Spotify Technology S.A. (NYSE:SPOT)

Axiom Investors LLC DE boosted its position in Spotify Technology S.A. (NYSE:SPOT) by 1,552.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 227,178 shares of the company’s stock after buying an additional 213,430 shares during the quarter. Spotify Technology makes up approximately 0.7% of Axiom Investors LLC DE’s portfolio, making the stock its 29th biggest position. Axiom Investors LLC DE owned about 0.11% of Spotify Technology worth $101,635,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Auxano Advisors LLC boosted its stake in shares of Spotify Technology by 2.5% in the 4th quarter. Auxano Advisors LLC now owns 828 shares of the company’s stock valued at $370,000 after purchasing an additional 20 shares in the last quarter. SRS Capital Advisors Inc. lifted its stake in Spotify Technology by 4.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 573 shares of the company’s stock worth $256,000 after purchasing an additional 25 shares during the last quarter. First Horizon Advisors Inc. boosted its position in Spotify Technology by 5.4% during the fourth quarter. First Horizon Advisors Inc. now owns 504 shares of the company’s stock valued at $225,000 after buying an additional 26 shares during the period. Harbour Investments Inc. grew its stake in shares of Spotify Technology by 13.3% during the fourth quarter. Harbour Investments Inc. now owns 222 shares of the company’s stock valued at $99,000 after buying an additional 26 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. increased its holdings in shares of Spotify Technology by 1.9% in the fourth quarter. Cookson Peirce & Co. Inc. now owns 1,467 shares of the company’s stock worth $656,000 after buying an additional 27 shares during the period. 84.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SPOT shares. Redburn Atlantic assumed coverage on shares of Spotify Technology in a research note on Tuesday, March 11th. They issued a “neutral” rating and a $545.00 target price on the stock. China Renaissance initiated coverage on Spotify Technology in a research note on Wednesday, March 26th. They set a “buy” rating and a $740.00 target price on the stock. Morgan Stanley raised their price target on Spotify Technology from $550.00 to $670.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Wolfe Research reiterated a “peer perform” rating on shares of Spotify Technology in a report on Friday, January 17th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $658.00 price objective (up from $473.00) on shares of Spotify Technology in a report on Wednesday, February 5th. Nine investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $552.47.

Spotify Technology Stock Down 3.5 %

SPOT opened at $559.76 on Monday. The stock has a market capitalization of $114.59 billion, a price-to-earnings ratio of 94.08 and a beta of 1.66. The firm has a 50 day moving average price of $578.28 and a 200-day moving average price of $479.17. Spotify Technology S.A. has a twelve month low of $260.80 and a twelve month high of $652.63.

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.