319,131 Shares in Spotify Technology S.A. (NYSE:SPOT) Bought by Clearbridge Investments LLC

Clearbridge Investments LLC purchased a new stake in shares of Spotify Technology S.A. (NYSE:SPOT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 319,131 shares of the company’s stock, valued at approximately $142,773,000. Clearbridge Investments LLC owned 0.16% of Spotify Technology at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. RWA Wealth Partners LLC grew its holdings in shares of Spotify Technology by 1.9% during the 4th quarter. RWA Wealth Partners LLC now owns 4,320 shares of the company’s stock worth $1,933,000 after purchasing an additional 80 shares during the period. Schroder Investment Management Group grew its stake in Spotify Technology by 0.4% during the fourth quarter. Schroder Investment Management Group now owns 1,912,937 shares of the company’s stock worth $855,810,000 after buying an additional 7,075 shares during the period. Maridea Wealth Management LLC acquired a new stake in shares of Spotify Technology in the fourth quarter worth $381,000. Level Four Advisory Services LLC raised its stake in shares of Spotify Technology by 5.7% in the 4th quarter. Level Four Advisory Services LLC now owns 2,546 shares of the company’s stock valued at $1,139,000 after acquiring an additional 137 shares during the period. Finally, Orion Portfolio Solutions LLC lifted its holdings in shares of Spotify Technology by 105.0% during the 4th quarter. Orion Portfolio Solutions LLC now owns 6,831 shares of the company’s stock valued at $3,056,000 after acquiring an additional 3,499 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Price Performance

Shares of SPOT opened at $559.76 on Monday. The company has a market cap of $114.59 billion, a P/E ratio of 94.08 and a beta of 1.66. Spotify Technology S.A. has a 12 month low of $260.80 and a 12 month high of $652.63. The stock has a fifty day moving average price of $578.28 and a 200 day moving average price of $479.17.

Analyst Upgrades and Downgrades

Several research analysts have commented on SPOT shares. Canaccord Genuity Group raised their price objective on Spotify Technology from $650.00 to $700.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. Macquarie upped their price target on Spotify Technology from $500.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Citigroup increased their price objective on shares of Spotify Technology from $540.00 to $720.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Wolfe Research reissued a “peer perform” rating on shares of Spotify Technology in a research report on Friday, January 17th. Finally, Guggenheim reaffirmed a “buy” rating and set a $675.00 price target on shares of Spotify Technology in a report on Monday, February 24th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $552.47.

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.