Thompson Siegel & Walmsley LLC Makes New $447,000 Investment in Spotify Technology S.A. (NYSE:SPOT)

Thompson Siegel & Walmsley LLC acquired a new position in Spotify Technology S.A. (NYSE:SPOT) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,000 shares of the company’s stock, valued at approximately $447,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA raised its position 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 valued at $1,286,969,000 after purchasing an additional 102,786 shares during the period. Jennison Associates LLC bought a new stake in shares of Spotify Technology in the fourth quarter valued at approximately $1,335,575,000. State Street Corp raised its position 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 valued at $736,073,000 after purchasing an additional 28,864 shares during the period. FMR LLC raised its position 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 valued at $577,788,000 after purchasing an additional 297,035 shares during the period. Finally, Forsta AP Fonden bought a new stake in shares of Spotify Technology in the fourth quarter valued at approximately $619,600,000. Institutional investors own 84.09% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on SPOT shares. Benchmark boosted their price target on shares of Spotify Technology from $600.00 to $720.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. Rosenblatt Securities reissued a “neutral” rating and issued a $658.00 price target (up previously from $473.00) on shares of Spotify Technology in a research report on Wednesday, February 5th. Redburn Atlantic began coverage on shares of Spotify Technology in a research note on Tuesday. They set a “neutral” rating and a $545.00 price objective for the company. Macquarie boosted their price objective 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, Morgan Stanley boosted their price objective on shares of Spotify Technology from $550.00 to $670.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Eight analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $540.68.

Spotify Technology Stock Performance

Shares of Spotify Technology stock opened at $576.02 on Friday. Spotify Technology S.A. has a 52-week low of $249.58 and a 52-week high of $652.63. The stock has a market capitalization of $117.92 billion, a price-to-earnings ratio of 96.81 and a beta of 1.66. The company has a fifty day moving average of $555.35 and a 200-day moving average of $459.43.

About Spotify Technology

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.