Spotify Technology S.A. (NYSE:SPOT) Shares Acquired by Pathway Capital Management LP

Pathway Capital Management LP increased its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 122.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 127,824 shares of the company’s stock after purchasing an additional 70,484 shares during the period. Spotify Technology makes up approximately 57.0% of Pathway Capital Management LP’s holdings, making the stock its largest position. Pathway Capital Management LP owned 0.06% of Spotify Technology worth $57,186,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. raised its holdings in Spotify Technology by 5.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 478 shares of the company’s stock valued at $176,000 after acquiring an additional 26 shares in the last quarter. Joel Isaacson & Co. LLC raised its holdings in Spotify Technology by 1.9% in the 4th quarter. Joel Isaacson & Co. LLC now owns 1,559 shares of the company’s stock valued at $697,000 after acquiring an additional 29 shares in the last quarter. Avior Wealth Management LLC raised its holdings in Spotify Technology by 12.0% in the 3rd quarter. Avior Wealth Management LLC now owns 281 shares of the company’s stock valued at $104,000 after acquiring an additional 30 shares in the last quarter. Park National Corp OH raised its holdings in Spotify Technology by 4.1% in the 4th quarter. Park National Corp OH now owns 793 shares of the company’s stock valued at $355,000 after acquiring an additional 31 shares in the last quarter. Finally, Washington Trust Advisors Inc. raised its holdings in Spotify Technology by 12.0% in the 3rd quarter. Washington Trust Advisors Inc. now owns 299 shares of the company’s stock valued at $110,000 after acquiring an additional 32 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Stock Up 2.9 %

SPOT stock opened at $608.16 on Friday. The business’s fifty day moving average is $536.90 and its 200-day moving average is $444.91. The company has a market cap of $121.06 billion, a P/E ratio of 102.21 and a beta of 1.63. Spotify Technology S.A. has a twelve month low of $249.58 and a twelve month high of $652.63.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Phillip Securities reaffirmed an “accumulate” rating and issued a $485.00 price target (up previously from $420.00) on shares of Spotify Technology in a report on Wednesday, November 13th. KeyCorp upped their price objective on Spotify Technology from $555.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Wells Fargo & Company upped their price objective on Spotify Technology from $520.00 to $690.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Rosenblatt Securities restated a “neutral” rating and set a $658.00 price target (up from $473.00) on shares of Spotify Technology in a research report on Wednesday, February 5th. Finally, Pivotal Research increased their price target on Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $529.43.

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.