Swiss National Bank Takes $189.20 Million Position in Spotify Technology S.A. (NYSE:SPOT)

Swiss National Bank bought a new stake in Spotify Technology S.A. (NYSE:SPOT) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 422,900 shares of the company’s stock, valued at approximately $189,197,000. Swiss National Bank owned about 0.21% of Spotify Technology at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA raised its stake in shares of 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 valued at $1,286,969,000 after acquiring an additional 102,786 shares during the last quarter. Jennison Associates LLC acquired a new position in Spotify Technology during the 4th quarter worth $1,335,575,000. State Street Corp lifted its holdings in Spotify Technology by 1.5% during the 3rd quarter. State Street Corp now owns 1,997,323 shares of the company’s stock worth $736,073,000 after buying an additional 28,864 shares in the last quarter. FMR LLC lifted its holdings in Spotify Technology by 23.4% during the 3rd quarter. FMR LLC now owns 1,567,818 shares of the company’s stock worth $577,788,000 after buying an additional 297,035 shares in the last quarter. Finally, Forsta AP Fonden acquired a new position in Spotify Technology during the 4th quarter worth $619,600,000. Institutional investors own 84.09% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on SPOT. Canaccord Genuity Group upped their price objective on Spotify Technology from $650.00 to $700.00 and gave the stock a “buy” rating in a report on Wednesday, February 5th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $480.00 price objective (down previously from $490.00) on shares of Spotify Technology in a report on Tuesday, January 28th. Citigroup increased their price target on Spotify Technology from $540.00 to $720.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. The Goldman Sachs Group increased their price target on Spotify Technology from $550.00 to $695.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Finally, KeyCorp increased their price target on Spotify Technology from $555.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Eight research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $540.68.

Spotify Technology Trading Up 0.6 %

SPOT stock opened at $539.11 on Friday. The stock has a 50-day moving average price of $553.16 and a two-hundred day moving average price of $457.77. The stock has a market cap of $110.36 billion, a PE ratio of 90.61 and a beta of 1.66. Spotify Technology S.A. has a 1 year low of $249.58 and a 1 year high of $652.63.

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.