Schroder Investment Management Group Raises Stock Position in Spotify Technology S.A. (NYSE:SPOT)

Schroder Investment Management Group boosted its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 0.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,912,937 shares of the company’s stock after acquiring an additional 7,075 shares during the period. Spotify Technology accounts for 0.8% of Schroder Investment Management Group’s holdings, making the stock its 21st biggest position. Schroder Investment Management Group owned 0.96% of Spotify Technology worth $855,810,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hillsdale Investment Management Inc. acquired a new position in shares of Spotify Technology during the fourth quarter valued at about $27,000. Prestige Wealth Management Group LLC acquired a new position in Spotify Technology during the 3rd quarter valued at approximately $26,000. Hobbs Group Advisors LLC purchased a new position in shares of Spotify Technology in the third quarter worth $33,000. Larson Financial Group LLC lifted its stake in shares of Spotify Technology by 51.6% during the third quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock worth $36,000 after buying an additional 33 shares during the period. Finally, Quent Capital LLC grew its holdings in shares of Spotify Technology by 135.7% during the fourth quarter. Quent Capital LLC now owns 99 shares of the company’s stock valued at $44,000 after buying an additional 57 shares during the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on SPOT shares. Canaccord Genuity Group lifted their price target on Spotify Technology from $650.00 to $700.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. China Renaissance initiated coverage on Spotify Technology in a report on Wednesday. They set a “buy” rating and a $740.00 target price for the company. Rosenblatt Securities reiterated a “neutral” rating and issued a $658.00 price target (up previously from $473.00) on shares of Spotify Technology in a report on Wednesday, February 5th. Wolfe Research restated a “peer perform” rating on shares of Spotify Technology in a research note on Friday, January 17th. Finally, Morgan Stanley upped their price objective on shares of Spotify Technology from $550.00 to $670.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Nine research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Spotify Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $552.47.

Spotify Technology Stock Performance

NYSE SPOT opened at $559.76 on Friday. Spotify Technology S.A. has a one year low of $260.80 and a one year high of $652.63. The business has a fifty day moving average price of $578.28 and a 200 day moving average price of $478.17. The company has a market cap of $114.59 billion, a P/E ratio of 94.08 and a beta of 1.66.

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.