Dimensional Fund Advisors LP Buys 2,719 Shares of Spotify Technology S.A. (NYSE:SPOT)

Dimensional Fund Advisors LP increased its position in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 1.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 203,766 shares of the company's stock after acquiring an additional 2,719 shares during the period. Dimensional Fund Advisors LP owned approximately 0.10% of Spotify Technology worth $91,170,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Jennison Associates LLC bought a new stake in Spotify Technology during the fourth quarter valued at approximately $1,335,575,000. FMR LLC lifted its holdings in shares of Spotify Technology by 30.2% during the 4th quarter. FMR LLC now owns 2,041,387 shares of the company's stock worth $913,276,000 after acquiring an additional 473,569 shares during the last quarter. Schroder Investment Management Group grew its position in Spotify Technology by 0.4% in the fourth quarter. Schroder Investment Management Group now owns 1,912,937 shares of the company's stock worth $855,810,000 after acquiring an additional 7,075 shares in the last quarter. GQG Partners LLC bought a new position in Spotify Technology in the fourth quarter valued at $800,725,000. Finally, Geode Capital Management LLC increased its stake in Spotify Technology by 561.6% in the fourth quarter. Geode Capital Management LLC now owns 1,483,392 shares of the company's stock valued at $659,841,000 after acquiring an additional 1,259,183 shares during the last quarter. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SPOT has been the subject of a number of research reports. The Goldman Sachs Group upped their price objective on Spotify Technology from $550.00 to $695.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Loop Capital increased their price target on shares of Spotify Technology from $435.00 to $550.00 and gave the company a "hold" rating in a research report on Friday. Cantor Fitzgerald decreased their price target on shares of Spotify Technology from $600.00 to $520.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Macquarie upped their price objective on shares of Spotify Technology from $600.00 to $665.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Finally, KeyCorp decreased their target price on shares of Spotify Technology from $675.00 to $625.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Eight analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $604.76.

Spotify Technology Stock Up 6.7 %

Shares of NYSE:SPOT traded up $40.51 during midday trading on Friday, reaching $642.77. The company's stock had a trading volume of 4,848,856 shares, compared to its average volume of 2,159,951. The firm has a 50 day moving average of $569.30 and a 200-day moving average of $512.73. The firm has a market capitalization of $131.58 billion, a P/E ratio of 108.03 and a beta of 1.75. Spotify Technology S.A. has a 12-month low of $283.39 and a 12-month high of $652.94.

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.