Allianz Asset Management GmbH Buys 19,152 Shares of Spotify Technology S.A. (NYSE:SPOT)

Allianz Asset Management GmbH increased its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 13.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 156,581 shares of the company’s stock after acquiring an additional 19,152 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.08% of Spotify Technology worth $70,051,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. FDx Advisors Inc. grew its holdings in Spotify Technology by 6.7% in the 4th quarter. FDx Advisors Inc. now owns 1,884 shares of the company’s stock worth $843,000 after acquiring an additional 118 shares during the last quarter. Prakash Investment Advisors LLC purchased a new stake in shares of Spotify Technology during the fourth quarter worth about $2,953,000. Meitav Investment House Ltd. grew its stake in shares of Spotify Technology by 84.0% in the fourth quarter. Meitav Investment House Ltd. now owns 1,126 shares of the company’s stock worth $504,000 after purchasing an additional 514 shares during the last quarter. Wealth Alliance purchased a new position in Spotify Technology during the 4th quarter valued at about $354,000. Finally, Cumberland Partners Ltd raised its position in Spotify Technology by 7.1% during the 4th quarter. Cumberland Partners Ltd now owns 3,750 shares of the company’s stock valued at $1,678,000 after purchasing an additional 250 shares during the last quarter. 84.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SPOT. Wolfe Research reiterated a “peer perform” rating on shares of Spotify Technology in a research report on Friday, January 17th. Phillip Securities reiterated an “accumulate” rating and issued a $485.00 price target (up previously from $420.00) on shares of Spotify Technology in a report on Wednesday, November 13th. Rosenblatt Securities restated a “neutral” rating and issued a $658.00 price objective (up from $473.00) on shares of Spotify Technology in a report on Wednesday, February 5th. Macquarie lifted their target price on shares of Spotify Technology from $500.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Finally, Citigroup boosted their price target on shares of Spotify Technology from $540.00 to $720.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, Spotify Technology has an average rating of “Moderate Buy” and an average target price of $529.43.

Spotify Technology Stock Down 4.7 %

Shares of NYSE SPOT opened at $606.98 on Friday. The firm has a market cap of $120.82 billion, a P/E ratio of 102.01 and a beta of 1.63. Spotify Technology S.A. has a twelve month low of $243.99 and a twelve month high of $652.63. The company has a 50 day moving average of $523.55 and a 200 day moving average of $435.73.

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.