Teacher Retirement System of Texas Acquires Shares of 168,528 Spotify Technology S.A. (NYSE:SPOT)

Teacher Retirement System of Texas bought a new position in Spotify Technology S.A. (NYSE:SPOT) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 168,528 shares of the company’s stock, valued at approximately $75,396,000. Teacher Retirement System of Texas owned about 0.08% of Spotify Technology as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. OneDigital Investment Advisors LLC increased its stake in Spotify Technology by 38.9% during the third quarter. OneDigital Investment Advisors LLC now owns 1,074 shares of the company’s stock worth $396,000 after acquiring an additional 301 shares during the last quarter. Pathstone Holdings LLC raised its holdings in Spotify Technology by 16.9% during the 3rd quarter. Pathstone Holdings LLC now owns 24,258 shares of the company’s stock valued at $8,940,000 after buying an additional 3,515 shares during the period. Caprock Group LLC raised its holdings in Spotify Technology by 4.4% during the 3rd quarter. Caprock Group LLC now owns 4,696 shares of the company’s stock valued at $1,731,000 after buying an additional 199 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Spotify Technology by 12.4% in the third quarter. PNC Financial Services Group Inc. now owns 11,763 shares of the company’s stock valued at $4,335,000 after acquiring an additional 1,299 shares during the period. Finally, Avior Wealth Management LLC lifted its holdings in shares of Spotify Technology by 12.0% in the 3rd quarter. Avior Wealth Management LLC now owns 281 shares of the company’s stock worth $104,000 after acquiring an additional 30 shares during the last quarter. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SPOT shares. JPMorgan Chase & Co. upped their price target on shares of Spotify Technology from $555.00 to $730.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. KeyCorp raised their price target on Spotify Technology from $555.00 to $600.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Wells Fargo & Company lifted their target price on Spotify Technology from $520.00 to $690.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Cantor Fitzgerald reiterated a “neutral” rating and set a $480.00 price objective (down previously from $490.00) on shares of Spotify Technology in a report on Tuesday, January 28th. Finally, UBS Group boosted their price objective on shares of Spotify Technology from $485.00 to $540.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Eight equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $540.68.

Spotify Technology Price Performance

NYSE:SPOT opened at $585.75 on Thursday. Spotify Technology S.A. has a 1-year low of $254.42 and a 1-year high of $652.63. The firm has a market capitalization of $119.91 billion, a P/E ratio of 98.45 and a beta of 1.66. The company’s fifty day moving average price is $562.18 and its 200-day moving average price is $465.39.

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.