Vanguard Group Inc. Has $396.29 Million Holdings in Spotify Technology S.A. (NYSE:SPOT)

Vanguard Group Inc. increased its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 28.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 885,795 shares of the company’s stock after purchasing an additional 198,718 shares during the quarter. Vanguard Group Inc. owned approximately 0.45% of Spotify Technology worth $396,287,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Prestige Wealth Management Group LLC acquired a new position in Spotify Technology during the third quarter worth $26,000. Hillsdale Investment Management Inc. bought a new stake in shares of Spotify Technology in the 4th quarter valued at about $27,000. Hobbs Group Advisors LLC acquired a new stake in Spotify Technology in the 3rd quarter valued at about $33,000. Quent Capital LLC grew its holdings in Spotify Technology by 135.7% during the fourth quarter. Quent Capital LLC now owns 99 shares of the company’s stock worth $44,000 after purchasing an additional 57 shares during the period. Finally, Noble Wealth Management PBC acquired a new position in Spotify Technology during the fourth quarter worth approximately $52,000. Institutional investors own 84.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on SPOT shares. Benchmark lifted their target price on Spotify Technology from $600.00 to $720.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. Guggenheim reissued a “buy” rating and issued a $675.00 price objective on shares of Spotify Technology in a research report on Monday, February 24th. Barclays lifted their target price on shares of Spotify Technology from $475.00 to $710.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Rosenblatt Securities reissued a “neutral” rating and issued a $658.00 price target (up from $473.00) on shares of Spotify Technology in a report on Wednesday, February 5th. Finally, Redburn Atlantic assumed coverage on Spotify Technology in a report on Tuesday, March 11th. They set a “neutral” rating and a $545.00 price objective for the company. Nine investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $557.47.

Spotify Technology Trading Up 2.4 %

SPOT opened at $565.17 on Thursday. The company has a market cap of $115.69 billion, a P/E ratio of 94.99 and a beta of 1.66. The company’s 50 day moving average is $582.30 and its 200-day moving average is $482.76. Spotify Technology S.A. has a 1-year low of $267.76 and a 1-year high of $652.63.

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.