Great Lakes Advisors LLC Buys Shares of 603 Spotify Technology S.A. (NYSE:SPOT)

Great Lakes Advisors LLC purchased a new position in shares of Spotify Technology S.A. (NYSE:SPOT) during the fourth quarter, Holdings Channel.com reports. The fund purchased 603 shares of the company’s stock, valued at approximately $270,000.

Other hedge funds have also made changes to their positions in the company. Jennison Associates LLC bought a new stake in Spotify Technology in the fourth quarter valued at $1,335,575,000. Forsta AP Fonden bought a new stake in Spotify Technology in the 4th quarter valued at about $619,600,000. Amundi boosted its stake in Spotify Technology by 194.2% during the 4th quarter. Amundi now owns 750,030 shares of the company’s stock valued at $359,812,000 after purchasing an additional 495,087 shares during the period. FMR LLC grew its position in Spotify Technology by 23.4% in the 3rd quarter. FMR LLC now owns 1,567,818 shares of the company’s stock worth $577,788,000 after purchasing an additional 297,035 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Spotify Technology in the fourth quarter valued at approximately $125,694,000. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Trading Up 7.1 %

NYSE SPOT opened at $576.02 on Monday. Spotify Technology S.A. has a 1-year low of $249.58 and a 1-year high of $652.63. The firm’s fifty day simple moving average is $555.35 and its 200-day simple moving average is $461.13. The company has a market capitalization of $117.92 billion, a PE ratio of 96.81 and a beta of 1.66.

Analyst Ratings Changes

SPOT has been the subject of a number of recent analyst reports. UBS Group increased their price objective on Spotify Technology from $485.00 to $540.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Redburn Atlantic assumed coverage on Spotify Technology in a research note on Tuesday, March 11th. They issued a “neutral” rating and a $545.00 price target for the company. Benchmark lifted their price objective on shares of Spotify Technology from $600.00 to $720.00 and gave the company a “buy” rating in a research note on Wednesday, February 5th. KeyCorp increased their target price on shares of Spotify Technology from $555.00 to $600.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Barclays boosted their price target on shares of Spotify Technology from $475.00 to $710.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Eight equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $540.68.

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.