Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $21.72 Million Holdings in Spotify Technology S.A. (NYSE:SPOT)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 56.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 48,544 shares of the company’s stock after buying an additional 17,436 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Spotify Technology were worth $21,718,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Teacher Retirement System of Texas acquired a new position in Spotify Technology during the 4th quarter worth approximately $75,396,000. Next Capital Management LLC bought a new stake in shares of Spotify Technology during the fourth quarter valued at approximately $385,000. Trivest Advisors Ltd raised its position in shares of Spotify Technology by 1,593.0% during the fourth quarter. Trivest Advisors Ltd now owns 169,300 shares of the company’s stock worth $75,741,000 after purchasing an additional 159,300 shares during the period. Harvest Fund Management Co. Ltd lifted its holdings in shares of Spotify Technology by 35.8% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 6,964 shares of the company’s stock worth $3,114,000 after purchasing an additional 1,835 shares in the last quarter. Finally, Vinva Investment Management Ltd bought a new position in shares of Spotify Technology in the 4th quarter worth $6,134,000. Institutional investors own 84.09% of the company’s stock.

Wall Street Analysts Forecast Growth

SPOT has been the topic of several research reports. Morgan Stanley upped their price objective on shares of Spotify Technology from $550.00 to $670.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Wolfe Research reaffirmed a “peer perform” rating on shares of Spotify Technology in a research report on Friday, January 17th. Wells Fargo & Company boosted their price objective on Spotify Technology from $520.00 to $690.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. The Goldman Sachs Group raised their target price on Spotify Technology from $550.00 to $695.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Finally, KeyCorp upped 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. Eight research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $540.68.

Spotify Technology Price Performance

Shares of SPOT opened at $592.78 on Friday. Spotify Technology S.A. has a 1 year low of $257.56 and a 1 year high of $652.63. The stock’s fifty day moving average price is $564.44 and its two-hundred day moving average price is $466.28. The firm has a market cap of $121.35 billion, a PE ratio of 99.63 and a beta of 1.66.

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.