49,754 Shares in Spotify Technology S.A. (NYSE:SPOT) Purchased by Susquehanna Fundamental Investments LLC

Susquehanna Fundamental Investments LLC bought a new position in Spotify Technology S.A. (NYSE:SPOT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 49,754 shares of the company's stock, valued at approximately $22,259,000.

A number of other institutional investors also recently modified their holdings of the stock. Auxano Advisors LLC raised its stake in shares of Spotify Technology by 2.5% in the fourth quarter. Auxano Advisors LLC now owns 828 shares of the company's stock worth $370,000 after acquiring an additional 20 shares during the last quarter. SRS Capital Advisors Inc. raised its stake in shares of Spotify Technology by 4.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 573 shares of the company's stock worth $256,000 after acquiring an additional 25 shares during the last quarter. First Horizon Advisors Inc. raised its stake in shares of Spotify Technology by 5.4% in the fourth quarter. First Horizon Advisors Inc. now owns 504 shares of the company's stock worth $225,000 after acquiring an additional 26 shares during the last quarter. Harbour Investments Inc. raised its stake in shares of Spotify Technology by 13.3% during the fourth quarter. Harbour Investments Inc. now owns 222 shares of the company's stock worth $99,000 after buying an additional 26 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. raised its stake in shares of Spotify Technology by 1.9% during the fourth quarter. Cookson Peirce & Co. Inc. now owns 1,467 shares of the company's stock worth $656,000 after buying an additional 27 shares during the last quarter. 84.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SPOT shares. Guggenheim reissued a "buy" rating and set a $675.00 price target on shares of Spotify Technology in a research note on Monday, February 24th. Morgan Stanley upped their target price 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. Cantor Fitzgerald decreased their price target on shares of Spotify Technology from $600.00 to $520.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. The Goldman Sachs Group raised their price objective on Spotify Technology from $550.00 to $695.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Finally, Barclays dropped their price objective on Spotify Technology from $710.00 to $650.00 and set an "overweight" rating on the stock in a research note on Wednesday. Seven equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $606.71.

Spotify Technology Trading Down 2.1 %

Shares of NYSE:SPOT traded down $12.77 during mid-day trading on Thursday, hitting $601.21. 1,439,509 shares of the company traded hands, compared to its average volume of 2,509,645. The stock has a market cap of $123.07 billion, a P/E ratio of 101.08 and a beta of 1.75. Spotify Technology S.A. has a 12-month low of $283.39 and a 12-month high of $652.63. The stock has a 50-day moving average price of $569.30 and a two-hundred day moving average price of $511.15.

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.