Capital International Ltd. CA Purchases Shares of 3,205 Spotify Technology S.A. (NYSE:SPOT)

Capital International Ltd. CA acquired a new position in Spotify Technology S.A. (NYSE:SPOT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,205 shares of the company’s stock, valued at approximately $1,434,000.

Several other large investors also recently made changes to their positions in SPOT. Thrivent Financial for Lutherans boosted its stake in shares of Spotify Technology by 566.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 7,980 shares of the company’s stock valued at $3,541,000 after purchasing an additional 6,782 shares during the period. Jennison Associates LLC purchased a new position in Spotify Technology in the fourth quarter valued at about $1,335,575,000. Marks Group Wealth Management Inc purchased a new position in Spotify Technology in the fourth quarter valued at about $535,000. Patriot Financial Group Insurance Agency LLC acquired a new stake in Spotify Technology during the 4th quarter valued at approximately $214,000. Finally, Swedbank AB increased its holdings in Spotify Technology by 20.9% during the 4th quarter. Swedbank AB now owns 946,129 shares of the company’s stock worth $423,279,000 after purchasing an additional 163,626 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on SPOT. KeyCorp reduced their target price on Spotify Technology from $675.00 to $625.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. Redburn Atlantic started coverage on shares of Spotify Technology in a report on Tuesday, March 11th. They set a “neutral” rating and a $545.00 price objective for the company. Morgan Stanley boosted their target price on shares of Spotify Technology from $550.00 to $670.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Rosenblatt Securities reiterated a “neutral” rating and issued a $658.00 price target (up from $473.00) on shares of Spotify Technology in a research note on Wednesday, February 5th. Finally, Canaccord Genuity Group increased their target price on Spotify Technology from $650.00 to $700.00 and gave the stock a “buy” rating in a report on Wednesday, February 5th. Nine equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, Spotify Technology currently has a consensus rating of “Moderate Buy” and an average target price of $564.45.

Spotify Technology Stock Up 2.1 %

Shares of NYSE SPOT opened at $574.85 on Friday. The firm’s 50-day simple moving average is $575.74 and its 200 day simple moving average is $498.86. The stock has a market cap of $117.68 billion, a P/E ratio of 96.61 and a beta of 1.75. Spotify Technology S.A. has a fifty-two week low of $267.76 and a fifty-two week high of $652.63.

Spotify Technology Company 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.