American Century Companies Inc. Increases Stock Position in Spotify Technology S.A. (NYSE:SPOT)

American Century Companies Inc. lifted its holdings in Spotify Technology S.A. (NYSE:SPOT) by 16.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 236,360 shares of the company’s stock after buying an additional 33,470 shares during the quarter. American Century Companies Inc. owned approximately 0.12% of Spotify Technology worth $105,743,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. PNC Financial Services Group Inc. increased its stake in shares of Spotify Technology by 12.4% during the third quarter. PNC Financial Services Group Inc. now owns 11,763 shares of the company’s stock valued at $4,335,000 after purchasing an additional 1,299 shares in the last quarter. Intech Investment Management LLC increased its position in Spotify Technology by 57.0% during the 3rd quarter. Intech Investment Management LLC now owns 1,699 shares of the company’s stock valued at $626,000 after buying an additional 617 shares in the last quarter. Great Valley Advisor Group Inc. increased its position in Spotify Technology by 4.3% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 2,125 shares of the company’s stock valued at $783,000 after buying an additional 87 shares in the last quarter. Cerity Partners LLC raised its stake in Spotify Technology by 11.8% during the third quarter. Cerity Partners LLC now owns 33,321 shares of the company’s stock valued at $12,280,000 after buying an additional 3,524 shares during the last quarter. Finally, Algert Global LLC boosted its holdings in Spotify Technology by 703.1% in the third quarter. Algert Global LLC now owns 11,999 shares of the company’s stock worth $4,422,000 after acquiring an additional 10,505 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Trading Up 0.9 %

Spotify Technology stock opened at $605.18 on Tuesday. Spotify Technology S.A. has a 12-month low of $257.56 and a 12-month high of $652.63. The firm has a 50-day moving average price of $570.20 and a 200-day moving average price of $471.97. The firm has a market capitalization of $123.88 billion, a PE ratio of 101.71 and a beta of 1.66.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SPOT. Redburn Atlantic started coverage on shares of Spotify Technology in a research report on Tuesday, March 11th. They set a “neutral” rating and a $545.00 price objective on the stock. KeyCorp increased their price target on shares of Spotify Technology from $555.00 to $600.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Macquarie boosted their price objective 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. Wells Fargo & Company increased their target price on Spotify Technology from $520.00 to $690.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Finally, Morgan Stanley boosted their price target on Spotify Technology from $550.00 to $670.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Eight equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, Spotify Technology has an average rating of “Moderate Buy” and an average target price of $540.68.

About Spotify Technology

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.