3,085 Shares in Spotify Technology S.A. (NYSE:SPOT) Purchased by Plato Investment Management Ltd

Plato Investment Management Ltd acquired a new position in Spotify Technology S.A. (NYSE:SPOT) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 3,085 shares of the company’s stock, valued at approximately $1,385,000.

Other large investors also recently bought and sold shares of the company. WCM Investment Management LLC boosted its position 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 worth $1,430,142,000 after purchasing an additional 605,755 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Spotify Technology by 3.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,492,170 shares of the company’s stock worth $1,286,969,000 after purchasing an additional 102,786 shares during the last quarter. Jennison Associates LLC purchased a new position in Spotify Technology in the fourth quarter worth about $1,335,575,000. State Street Corp boosted its position in Spotify Technology by 1.5% in the third quarter. State Street Corp now owns 1,997,323 shares of the company’s stock worth $736,073,000 after purchasing an additional 28,864 shares during the last quarter. Finally, FMR LLC boosted its position in Spotify Technology by 23.4% in 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 during the last quarter. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Price Performance

NYSE:SPOT opened at $599.01 on Tuesday. Spotify Technology S.A. has a 1 year low of $249.58 and a 1 year high of $652.63. The stock’s 50 day simple moving average is $539.75 and its two-hundred day simple moving average is $448.32. The company has a market cap of $119.24 billion, a price-to-earnings ratio of 100.67 and a beta of 1.63.

Analysts Set New Price Targets

Several brokerages have issued reports on SPOT. TD Cowen raised their target price on Spotify Technology from $356.00 to $416.00 and gave the stock a “hold” rating in a research report on Wednesday, November 13th. Wolfe Research reissued a “peer perform” rating on shares of Spotify Technology in a research report on Friday, January 17th. The Goldman Sachs Group lifted their price objective on Spotify Technology from $550.00 to $695.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft lifted their price objective on Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, Piper Sandler lifted their price objective on Spotify Technology from $330.00 to $450.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $529.43.

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.