Spotify Technology S.A. (NYSE:SPOT) Shares Acquired by Cumberland Partners Ltd

Cumberland Partners Ltd increased its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 7.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,750 shares of the company’s stock after acquiring an additional 250 shares during the quarter. Cumberland Partners Ltd’s holdings in Spotify Technology were worth $1,678,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in SPOT. Jennison Associates LLC acquired a new position in shares of Spotify Technology in the 4th quarter valued at $1,335,575,000. Forsta AP Fonden purchased a new stake in Spotify Technology in the fourth quarter valued at $619,600,000. WCM Investment Management LLC boosted its stake in Spotify Technology by 18.5% in 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 acquiring an additional 605,755 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Spotify Technology by 36,910.0% during the third quarter. International Assets Investment Management LLC now owns 347,524 shares of the company’s stock worth $128,073,000 after purchasing an additional 346,585 shares during the last quarter. Finally, FMR LLC increased its position in shares of Spotify Technology by 23.4% during the third quarter. FMR LLC now owns 1,567,818 shares of the company’s stock worth $577,788,000 after purchasing an additional 297,035 shares in the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Performance

Shares of SPOT stock opened at $641.78 on Thursday. The stock has a market cap of $127.75 billion, a PE ratio of 107.86 and a beta of 1.63. Spotify Technology S.A. has a 1 year low of $239.66 and a 1 year high of $652.63. The stock has a fifty day moving average price of $517.95 and a 200 day moving average price of $432.35.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SPOT shares. JPMorgan Chase & Co. raised their price target on Spotify Technology from $555.00 to $730.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Macquarie upped their price target on shares of Spotify Technology from $500.00 to $600.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. The Goldman Sachs Group lifted their price objective on shares of Spotify Technology from $550.00 to $695.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Barclays increased their target price on shares of Spotify Technology from $475.00 to $710.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Finally, Morgan Stanley boosted their price target on Spotify Technology from $550.00 to $670.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $529.43.

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.