Spotify Technology S.A. (NYSE:SPOT) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its position in Spotify Technology S.A. (NYSE:SPOT) by 50.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 616,211 shares of the company’s stock after acquiring an additional 206,650 shares during the period. Bank of New York Mellon Corp owned approximately 0.31% of Spotify Technology worth $275,680,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Aigen Investment Management LP raised its stake in shares of Spotify Technology by 42.4% in the third quarter. Aigen Investment Management LP now owns 9,800 shares of the company’s stock worth $3,612,000 after purchasing an additional 2,918 shares during the last quarter. Jennison Associates LLC acquired a new position in Spotify Technology in the 4th quarter worth approximately $1,335,575,000. Marks Group Wealth Management Inc acquired a new position in Spotify Technology in the 4th quarter worth approximately $535,000. Patriot Financial Group Insurance Agency LLC purchased a new position in Spotify Technology during the 4th quarter worth approximately $214,000. Finally, Pathway Capital Management LP lifted its stake in Spotify Technology by 23.8% during the 3rd quarter. Pathway Capital Management LP now owns 57,340 shares of the company’s stock valued at $21,132,000 after acquiring an additional 11,042 shares during the period. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Price Performance

Shares of NYSE:SPOT opened at $602.53 on Thursday. Spotify Technology S.A. has a 1 year low of $249.38 and a 1 year high of $652.63. The firm has a market capitalization of $119.94 billion, a PE ratio of 101.27 and a beta of 1.63. The business’s 50 day moving average price is $531.23 and its 200-day moving average price is $442.02.

Analyst Ratings Changes

A number of research firms have recently weighed in on SPOT. TD Cowen increased their price objective on shares of Spotify Technology from $356.00 to $416.00 and gave the stock a “hold” rating in a research note on Wednesday, November 13th. Canaccord Genuity Group increased their price target on Spotify Technology from $650.00 to $700.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. KeyCorp lifted their price objective on Spotify Technology from $555.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Morgan Stanley upped their target price on Spotify Technology from $550.00 to $670.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Finally, UBS Group lifted their price target on Spotify Technology from $485.00 to $540.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $529.43.

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.