Spotify Technology S.A. (NYSE:SPOT) Shares Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. increased its position in Spotify Technology S.A. (NYSE:SPOT) by 39.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,739 shares of the company’s stock after buying an additional 3,319 shares during the period. Edgestream Partners L.P.’s holdings in Spotify Technology were worth $5,252,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SPOT. New York State Teachers Retirement System grew its holdings in Spotify Technology by 47.4% in the third quarter. New York State Teachers Retirement System now owns 2,705 shares of the company’s stock valued at $997,000 after purchasing an additional 870 shares during the period. Amalgamated Bank lifted its position in shares of Spotify Technology by 4.2% during the third quarter. Amalgamated Bank now owns 10,227 shares of the company’s stock worth $3,769,000 after purchasing an additional 415 shares in the last quarter. Concurrent Investment Advisors LLC lifted its position in shares of Spotify Technology by 4.8% during the third quarter. Concurrent Investment Advisors LLC now owns 1,538 shares of the company’s stock worth $567,000 after purchasing an additional 71 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Spotify Technology by 11.8% during the third quarter. Principal Financial Group Inc. now owns 39,578 shares of the company’s stock worth $14,586,000 after purchasing an additional 4,192 shares in the last quarter. Finally, TFB Advisors LLC raised its holdings in Spotify Technology by 13.9% in the third quarter. TFB Advisors LLC now owns 1,500 shares of the company’s stock valued at $553,000 after acquiring an additional 183 shares in the last quarter. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Canaccord Genuity Group increased their target price on shares of Spotify Technology from $650.00 to $700.00 and gave the stock a “buy” rating in a report on Wednesday, February 5th. Barclays increased their target price on shares of Spotify Technology from $475.00 to $710.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. The Goldman Sachs Group raised their price objective on shares of Spotify Technology from $550.00 to $695.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Bank of America raised their price objective on shares of Spotify Technology from $430.00 to $515.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Morgan Stanley raised their price objective on shares of Spotify Technology from $550.00 to $670.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, Spotify Technology has a consensus rating of “Moderate Buy” and a consensus price target of $529.43.

Spotify Technology Price Performance

Shares of SPOT opened at $531.15 on Friday. The firm has a 50-day moving average of $547.82 and a 200-day moving average of $452.93. Spotify Technology S.A. has a one year low of $249.58 and a one year high of $652.63. The company has a market cap of $108.73 billion, a PE ratio of 89.27 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.