Spotify Technology S.A. (NYSE:SPOT) Shares Bought by Aigen Investment Management LP

Aigen Investment Management LP lifted its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 42.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,800 shares of the company’s stock after purchasing an additional 2,918 shares during the period. Spotify Technology comprises 0.7% of Aigen Investment Management LP’s investment portfolio, making the stock its 15th biggest position. Aigen Investment Management LP’s holdings in Spotify Technology were worth $3,612,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of SPOT. WCM Investment Management LLC increased its holdings in shares of Spotify Technology by 18.5% in the third quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock valued at $1,430,142,000 after purchasing an additional 605,755 shares during the last quarter. GQG Partners LLC purchased a new position in shares of Spotify Technology during the 1st quarter worth $610,040,000. Bamco Inc. NY boosted its position in shares of Spotify Technology by 28.3% during the 1st quarter. Bamco Inc. NY now owns 864,584 shares of the company’s stock valued at $228,164,000 after acquiring an additional 190,931 shares during the last quarter. Swedbank AB increased its position in Spotify Technology by 13.2% during the second quarter. Swedbank AB now owns 852,526 shares of the company’s stock worth $267,514,000 after purchasing an additional 99,730 shares during the last quarter. Finally, Perpetual Ltd boosted its holdings in Spotify Technology by 24.3% in the 3rd quarter. Perpetual Ltd now owns 759,681 shares of the company’s stock valued at $279,965,000 after purchasing an additional 148,431 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Trading Up 1.3 %

Shares of SPOT traded up $5.32 on Tuesday, hitting $415.51. 645,878 shares of the stock traded hands, compared to its average volume of 1,843,567. The firm has a market capitalization of $82.71 billion, a P/E ratio of 167.44 and a beta of 1.56. Spotify Technology S.A. has a 1 year low of $169.02 and a 1 year high of $418.01. The stock’s 50 day moving average is $367.88 and its two-hundred day moving average is $333.81. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.31.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. DZ Bank upgraded shares of Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 price target for the company in a report on Wednesday, July 24th. Pivotal Research increased their price target on Spotify Technology from $460.00 to $510.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. KeyCorp upped their target price on shares of Spotify Technology from $440.00 to $490.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Guggenheim lifted their price target on shares of Spotify Technology from $400.00 to $420.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, Rosenblatt Securities upped their price objective on shares of Spotify Technology from $399.00 to $438.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat.com, Spotify Technology has an average rating of “Moderate Buy” and an average target price of $381.04.

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.