8,987 Shares in Spotify Technology S.A. (NYSE:SPOT) Purchased by Clal Insurance Enterprises Holdings Ltd

Clal Insurance Enterprises Holdings Ltd bought a new position in Spotify Technology S.A. (NYSE:SPOT) during the 4th quarter, Holdings Channel reports. The fund bought 8,987 shares of the company’s stock, valued at approximately $4,021,000.

Several other large investors also recently modified their holdings of the business. WCM Investment Management LLC grew its stake 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 worth $1,430,142,000 after purchasing an additional 605,755 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Spotify Technology by 3.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,492,170 shares of the company’s stock worth $1,286,969,000 after purchasing an additional 102,786 shares during the last quarter. Jennison Associates LLC bought a new stake in shares of Spotify Technology in the fourth quarter worth about $1,335,575,000. State Street Corp grew its stake in shares of Spotify Technology by 1.5% in the third quarter. State Street Corp now owns 1,997,323 shares of the company’s stock worth $736,073,000 after purchasing an additional 28,864 shares during the last quarter. Finally, FMR LLC grew its stake in shares of Spotify Technology by 23.4% in the third 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. 84.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on SPOT shares. Bank of America lifted their price objective on Spotify Technology from $430.00 to $515.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Phillip Securities reaffirmed an “accumulate” rating and set a $485.00 price objective (up from $420.00) on shares of Spotify Technology in a research report on Wednesday, November 13th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $658.00 price objective (up from $473.00) on shares of Spotify Technology in a research report on Wednesday, February 5th. Piper Sandler lifted their price objective on Spotify Technology from $330.00 to $450.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Finally, Citigroup lifted their price objective on Spotify Technology from $540.00 to $720.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, Spotify Technology has an average rating of “Moderate Buy” and a consensus target price of $529.43.

Spotify Technology Trading Up 2.9 %

Shares of SPOT opened at $608.16 on Friday. The firm has a market cap of $121.06 billion, a PE ratio of 102.21 and a beta of 1.63. The firm has a fifty day simple moving average of $536.90 and a two-hundred day simple moving average of $445.69. Spotify Technology S.A. has a 1-year low of $249.58 and a 1-year 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.