abrdn plc increased its stake in shares of Spotify Technology S.A. (NYSE:SPOT – Free Report) by 98.3% in the first quarter, Holdings Channel reports. The firm owned 23,253 shares of the company’s stock after buying an additional 11,528 shares during the quarter. abrdn plc’s holdings in Spotify Technology were worth $3,107,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Ieq Capital LLC grew its stake in shares of Spotify Technology by 0.6% during the fourth quarter. Ieq Capital LLC now owns 24,385 shares of the company’s stock worth $1,925,000 after purchasing an additional 144 shares during the period. Legato Capital Management LLC acquired a new stake in shares of Spotify Technology during the fourth quarter worth $732,000. Two Sigma Advisers LP grew its stake in Spotify Technology by 82.9% in the fourth quarter. Two Sigma Advisers LP now owns 1,092,800 shares of the company’s stock valued at $86,277,000 after acquiring an additional 495,400 shares during the period. Altshuler Shaham Ltd grew its stake in Spotify Technology by 241.5% in the fourth quarter. Altshuler Shaham Ltd now owns 11,270 shares of the company’s stock valued at $890,000 after acquiring an additional 7,970 shares during the period. Finally, Vanguard Personalized Indexing Management LLC grew its stake in Spotify Technology by 76.9% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 11,832 shares of the company’s stock valued at $934,000 after acquiring an additional 5,144 shares during the period. 55.46% of the stock is owned by institutional investors and hedge funds.
Spotify Technology Stock Down 4.6 %
Spotify Technology stock opened at $163.82 on Tuesday. Spotify Technology S.A. has a 12 month low of $69.29 and a 12 month high of $182.00. The stock’s 50 day moving average is $157.24 and its 200-day moving average is $134.98.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on the company. JPMorgan Chase & Co. boosted their target price on Spotify Technology from $160.00 to $190.00 in a research note on Wednesday, July 19th. KeyCorp boosted their target price on Spotify Technology from $180.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday, July 14th. Bank of America boosted their target price on Spotify Technology from $165.00 to $185.00 in a research note on Thursday, June 29th. Benchmark boosted their target price on Spotify Technology from $160.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, July 20th. Finally, Wolfe Research raised Spotify Technology from a “peer perform” rating to an “outperform” rating and set a $190.00 target price for the company in a research note on Wednesday, June 21st. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $160.04.
About Spotify Technology
Spotify Technology SA, together with its subsidiaries, provides audio streaming 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.
Featured Stories
- Five stocks we like better than Spotify Technology
- Do Real Estate Investment Trusts Deserve a Place in Your Portfolio?
- 3 Housing Stocks to Avoid as Interest Rates Rise
- How Can Investors Use the Dogs of the Dow Strategy?
- AMC: Is a Big Squeeze in the Coming Attractions?
- What Percentage Gainers Tell Investors and Why They Don’t Tell the Whole Story
- Rivian: A Roaring Rise Or Time To Cash Out?
Want to see what other hedge funds are holding SPOT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Spotify Technology S.A. (NYSE:SPOT – Free Report).
Receive News & Ratings for Spotify Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spotify Technology and related companies with MarketBeat.com's FREE daily email newsletter.
