1,445 Shares in Spotify Technology S.A. (NYSE:SPOT) Acquired by BBR Partners LLC

BBR Partners LLC acquired a new position in shares of Spotify Technology S.A. (NYSE:SPOT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,445 shares of the company’s stock, valued at approximately $646,000.

Several other hedge funds and other institutional investors have also bought and sold shares of SPOT. Jennison Associates LLC bought a new position in Spotify Technology during the 4th quarter worth approximately $1,335,575,000. Forsta AP Fonden bought a new position in Spotify Technology during the 4th quarter worth approximately $619,600,000. WCM Investment Management LLC boosted its stake in Spotify Technology by 18.5% during the 3rd quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock worth $1,430,142,000 after acquiring an additional 605,755 shares during the last quarter. FMR LLC boosted 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 last quarter. Finally, Proficio Capital Partners LLC bought a new position in Spotify Technology during the 4th quarter worth approximately $125,694,000. Institutional investors own 84.09% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on SPOT. Pivotal Research lifted their price objective on shares of Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Macquarie raised their target price on shares of Spotify Technology from $500.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Citigroup raised 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. Wells Fargo & Company raised their target price on shares of Spotify Technology from $520.00 to $690.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Finally, Bank of America raised their target price on shares of Spotify Technology from $430.00 to $515.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $529.43.

Spotify Technology Stock Performance

Shares of Spotify Technology stock opened at $541.87 on Friday. The firm has a 50-day moving average of $546.33 and a 200-day moving average of $451.63. The stock has a market cap of $110.92 billion, a PE ratio of 91.07 and a beta of 1.66. Spotify Technology S.A. has a 52-week low of $249.58 and a 52-week 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.