Amundi Has $359.81 Million Stock Holdings in Spotify Technology S.A. (NYSE:SPOT)

Amundi boosted its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 194.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 750,030 shares of the company’s stock after purchasing an additional 495,087 shares during the period. Amundi owned 0.38% of Spotify Technology worth $359,812,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of SPOT. Jennison Associates LLC acquired a new position in Spotify Technology during the fourth quarter valued at approximately $1,335,575,000. Forsta AP Fonden acquired a new stake in shares of Spotify Technology in the fourth quarter valued at approximately $619,600,000. WCM Investment Management LLC lifted its position in shares of Spotify Technology by 18.5% in the third quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock valued at $1,430,142,000 after buying an additional 605,755 shares during the last quarter. FMR LLC lifted its position in shares of Spotify Technology by 23.4% in the third quarter. FMR LLC now owns 1,567,818 shares of the company’s stock valued at $577,788,000 after buying an additional 297,035 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Spotify Technology in the fourth quarter valued at approximately $125,694,000. 84.09% of the stock is owned by institutional investors and hedge funds.

Spotify Technology Stock Performance

Spotify Technology stock opened at $531.15 on Friday. Spotify Technology S.A. has a 52 week low of $249.58 and a 52 week high of $652.63. The stock has a market capitalization of $108.73 billion, a P/E ratio of 89.27 and a beta of 1.66. The stock has a fifty day moving average of $547.82 and a 200-day moving average of $453.67.

Analyst Upgrades and Downgrades

SPOT has been the subject of a number of recent analyst reports. Macquarie raised their price objective on Spotify Technology from $500.00 to $600.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Benchmark raised their price objective on Spotify Technology from $600.00 to $720.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. Wells Fargo & Company raised their price objective on Spotify Technology from $520.00 to $690.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Bank of America raised their price objective on Spotify Technology from $430.00 to $515.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Citigroup lifted their price target on Spotify Technology from $540.00 to $720.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, Spotify Technology currently has a consensus rating of “Moderate Buy” and an average price target of $529.43.

Spotify Technology 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.