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

Axiom Investors LLC DE grew its holdings in Spotify Technology S.A. (NYSE:SPOT) by 1,552.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 227,178 shares of the company’s stock after acquiring an additional 213,430 shares during the period. Spotify Technology accounts for 0.7% of Axiom Investors LLC DE’s portfolio, making the stock its 29th largest holding. Axiom Investors LLC DE’s holdings in Spotify Technology were worth $101,635,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SPOT. Hillsdale Investment Management Inc. bought a new position in shares of Spotify Technology during the 4th quarter valued at approximately $27,000. Prestige Wealth Management Group LLC purchased a new position in Spotify Technology during the third quarter valued at approximately $26,000. Hobbs Group Advisors LLC bought a new position in shares of Spotify Technology in the third quarter worth approximately $33,000. Larson Financial Group LLC increased its stake in shares of Spotify Technology by 51.6% in the third quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock worth $36,000 after purchasing an additional 33 shares in the last quarter. Finally, Quent Capital LLC raised its position in shares of Spotify Technology by 135.7% during the 4th quarter. Quent Capital LLC now owns 99 shares of the company’s stock valued at $44,000 after purchasing an additional 57 shares during the period. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Price Performance

Shares of SPOT opened at $559.76 on Monday. The firm has a market capitalization of $114.59 billion, a price-to-earnings ratio of 94.08 and a beta of 1.66. Spotify Technology S.A. has a 1-year low of $260.80 and a 1-year high of $652.63. The company has a 50-day moving average of $578.28 and a 200 day moving average of $479.17.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Benchmark upped their target price on shares of Spotify Technology from $600.00 to $720.00 and gave the stock a “buy” rating in a report on Wednesday, February 5th. China Renaissance started coverage on Spotify Technology in a research report on Wednesday, March 26th. They set a “buy” rating and a $740.00 target price for the company. KeyCorp boosted their price target on Spotify Technology from $555.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. FBN Securities assumed coverage on Spotify Technology in a report on Friday. They issued a “sector perform” rating and a $645.00 target price on the stock. Finally, Barclays increased their target price on Spotify Technology from $475.00 to $710.00 and gave the company an “overweight” rating in a research 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $552.47.

Spotify Technology 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.