Voya Investment Management LLC Has $124.04 Million Holdings in Spotify Technology S.A. (NYSE:SPOT)

Voya Investment Management LLC lifted its position in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 24.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 277,341 shares of the company's stock after buying an additional 54,454 shares during the period. Voya Investment Management LLC owned approximately 0.14% of Spotify Technology worth $124,038,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Jennison Associates LLC purchased a new position in shares of Spotify Technology in the 4th quarter valued at $1,335,575,000. GQG Partners LLC acquired a new position in shares of Spotify Technology during the fourth quarter worth about $800,725,000. Forsta AP Fonden purchased a new stake in shares of Spotify Technology in the fourth quarter worth about $619,600,000. Geode Capital Management LLC grew its stake in shares of 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 buying an additional 1,259,183 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Spotify Technology during the 4th quarter valued at about $396,028,000. 84.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Barclays upped their target price on shares of Spotify Technology from $475.00 to $710.00 and gave the company an "overweight" rating in a research note on Wednesday, February 5th. Rosenblatt Securities cut their price objective on Spotify Technology from $658.00 to $657.00 and set a "neutral" rating on the stock in a research note on Wednesday. Canaccord Genuity Group raised their price target on shares of Spotify Technology from $650.00 to $700.00 and gave the stock a "buy" rating in a research report on Wednesday, February 5th. Wolfe Research upgraded Spotify Technology from a "peer perform" rating to an "outperform" rating and set a $660.00 price target on the stock in a research report on Monday, April 21st. Finally, Redburn Atlantic assumed coverage on Spotify Technology in a research report on Tuesday, March 11th. They issued a "neutral" rating and a $545.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $603.26.

Spotify Technology Stock Up 4.0 %

Shares of Spotify Technology stock traded up $22.84 during midday trading on Wednesday, hitting $599.78. The company's stock had a trading volume of 2,303,898 shares, compared to its average volume of 2,135,725. The firm has a market capitalization of $122.78 billion, a P/E ratio of 100.80 and a beta of 1.75. Spotify Technology S.A. has a 1-year low of $280.37 and a 1-year high of $652.63. The stock has a 50-day simple moving average of $569.14 and a 200-day simple moving average of $510.43.

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.