Spotify Technology S.A. (NYSE:SPOT) Shares Bought by CenterBook Partners LP

CenterBook Partners LP lifted its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 822.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 36,599 shares of the company’s stock after acquiring an additional 32,633 shares during the quarter. Spotify Technology makes up about 1.0% of CenterBook Partners LP’s investment portfolio, making the stock its 15th biggest position. CenterBook Partners LP’s holdings in Spotify Technology were worth $16,374,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. HighTower Advisors LLC grew its stake in Spotify Technology by 25.2% during the 3rd quarter. HighTower Advisors LLC now owns 16,549 shares of the company’s stock worth $6,073,000 after buying an additional 3,330 shares during the last quarter. Integrated Wealth Concepts LLC boosted its stake in Spotify Technology by 5.6% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 1,743 shares of the company’s stock worth $642,000 after purchasing an additional 93 shares during the period. Quantinno Capital Management LP grew its position in Spotify Technology by 14.2% during the 3rd quarter. Quantinno Capital Management LP now owns 9,500 shares of the company’s stock worth $3,501,000 after purchasing an additional 1,180 shares during the last quarter. EP Wealth Advisors LLC increased its stake in Spotify Technology by 25.3% in the third quarter. EP Wealth Advisors LLC now owns 858 shares of the company’s stock valued at $316,000 after purchasing an additional 173 shares during the period. Finally, National Bank of Canada FI raised its holdings in shares of Spotify Technology by 1,001.0% in the third quarter. National Bank of Canada FI now owns 27,404 shares of the company’s stock valued at $10,099,000 after buying an additional 24,915 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Trading Down 0.8 %

Shares of SPOT stock opened at $514.74 on Wednesday. The company has a market capitalization of $105.37 billion, a price-to-earnings ratio of 86.51 and a beta of 1.75. The firm has a 50-day moving average price of $582.51 and a 200 day moving average price of $488.76. Spotify Technology S.A. has a twelve month low of $267.76 and a twelve month high of $652.63.

Wall Street Analyst Weigh In

SPOT has been the subject of several analyst reports. The Goldman Sachs Group upped their price objective on Spotify Technology from $550.00 to $695.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Canaccord Genuity Group boosted their price objective on shares of Spotify Technology from $650.00 to $700.00 and gave the company a “buy” rating in a research note on Wednesday, February 5th. Rosenblatt Securities restated a “neutral” rating and issued a $658.00 target price (up previously from $473.00) on shares of Spotify Technology in a research note on Wednesday, February 5th. Benchmark boosted their price target on shares of Spotify Technology from $600.00 to $720.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. Finally, FBN Securities began coverage on shares of Spotify Technology in a research report on Friday, March 28th. They issued a “sector perform” rating and a $645.00 price objective for the company. Nine research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat, Spotify Technology presently has a consensus rating of “Moderate Buy” and an average price target of $554.47.

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.