Plato Investment Management Ltd Takes Position in Spotify Technology S.A. (NYSE:SPOT)

Plato Investment Management Ltd bought a new stake in shares of Spotify Technology S.A. (NYSE:SPOT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,085 shares of the company’s stock, valued at approximately $1,385,000.

Several other large investors have also recently modified their holdings of SPOT. Jennison Associates LLC bought a new position in shares of Spotify Technology during the 4th quarter valued at approximately $1,335,575,000. Forsta AP Fonden bought a new position in Spotify Technology in the 4th quarter valued at $619,600,000. WCM Investment Management LLC grew its position in Spotify Technology by 18.5% in the 3rd quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock valued at $1,430,142,000 after acquiring an additional 605,755 shares during the last quarter. FMR LLC grew its position in Spotify Technology by 23.4% in the 3rd quarter. FMR LLC now owns 1,567,818 shares of the company’s stock valued at $577,788,000 after acquiring an additional 297,035 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new position in Spotify Technology in the 4th quarter valued at $125,694,000. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Price Performance

Shares of NYSE SPOT opened at $599.01 on Tuesday. The stock has a market capitalization of $119.24 billion, a P/E ratio of 100.67 and a beta of 1.63. Spotify Technology S.A. has a 1-year low of $249.58 and a 1-year high of $652.63. The business has a fifty day moving average price of $539.75 and a 200 day moving average price of $448.32.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Bank of America upped 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. Pivotal Research upped their price objective on Spotify Technology from $510.00 to $565.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. upped their price objective on Spotify Technology from $555.00 to $730.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $480.00 price objective (down previously from $490.00) on shares of Spotify Technology in a research report on Tuesday, January 28th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.