739 Shares in Spotify Technology S.A. (NYSE:SPOT) Purchased by MIG Capital LLC

MIG Capital LLC acquired a new stake in shares of Spotify Technology S.A. (NYSE:SPOT) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 739 shares of the company’s stock, valued at approximately $331,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Jennison Associates LLC purchased a new position in shares of Spotify Technology in the 4th quarter valued at approximately $1,335,575,000. GQG Partners LLC purchased a new position in Spotify Technology during the fourth quarter valued at $800,725,000. Forsta AP Fonden purchased a new stake in shares of Spotify Technology in the 4th quarter worth about $619,600,000. Geode Capital Management LLC increased its stake in shares of Spotify Technology by 561.6% in the 4th quarter. Geode Capital Management LLC now owns 1,483,392 shares of the company’s stock worth $659,841,000 after acquiring an additional 1,259,183 shares in the last quarter. Finally, Norges Bank purchased a new position in Spotify Technology during the 4th quarter valued at about $396,028,000. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. FBN Securities started coverage on shares of Spotify Technology in a report on Friday, March 28th. They issued a “sector perform” rating and a $645.00 price objective on the stock. The Goldman Sachs Group lifted their price objective on Spotify Technology from $550.00 to $695.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Redburn Atlantic initiated coverage on Spotify Technology in a report on Tuesday, March 11th. They issued a “neutral” rating and a $545.00 target price on the stock. China Renaissance initiated coverage on Spotify Technology in a research report on Wednesday, March 26th. They issued a “buy” rating and a $740.00 price target for the company. Finally, Benchmark increased their price objective on shares of Spotify Technology from $600.00 to $720.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $557.47.

Spotify Technology Stock Performance

NYSE:SPOT opened at $502.90 on Friday. The stock has a 50-day simple moving average of $583.28 and a two-hundred day simple moving average of $485.42. Spotify Technology S.A. has a 52-week low of $267.76 and a 52-week high of $652.63. The firm has a market capitalization of $102.95 billion, a PE ratio of 84.52 and a beta of 1.75.

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.