Swiss National Bank Takes $189.20 Million Position in Spotify Technology S.A. (NYSE:SPOT)

Swiss National Bank acquired a new stake in Spotify Technology S.A. (NYSE:SPOT) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 422,900 shares of the company’s stock, valued at approximately $189,197,000.

Several other hedge funds also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA grew its holdings in shares of Spotify Technology by 3.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,492,170 shares of the company’s stock valued at $1,286,969,000 after acquiring an additional 102,786 shares in the last quarter. Jennison Associates LLC bought a new position in shares of Spotify Technology in the 4th quarter valued at about $1,335,575,000. State Street Corp grew its holdings in shares of Spotify Technology by 1.5% in the 3rd quarter. State Street Corp now owns 1,997,323 shares of the company’s stock valued at $736,073,000 after acquiring an additional 28,864 shares in the last quarter. FMR LLC lifted its stake 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 purchasing an additional 297,035 shares during the last quarter. Finally, Forsta AP Fonden acquired a new stake in Spotify Technology in the 4th quarter valued at about $619,600,000. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Trading Up 0.6 %

NYSE SPOT opened at $539.11 on Friday. Spotify Technology S.A. has a 1-year low of $249.58 and a 1-year high of $652.63. The company has a 50 day moving average of $553.16 and a 200-day moving average of $457.77. The company has a market cap of $110.36 billion, a price-to-earnings ratio of 90.61 and a beta of 1.66.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SPOT. Canaccord Genuity Group raised their target price on shares of Spotify Technology from $650.00 to $700.00 and gave the company a “buy” rating in a research note on Wednesday, February 5th. Macquarie raised their target price on shares of Spotify Technology from $500.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Wolfe Research reiterated a “peer perform” rating on shares of Spotify Technology in a research note on Friday, January 17th. Barclays raised 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. Finally, Wells Fargo & Company raised their target price on shares of Spotify Technology from $520.00 to $690.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Eight investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, Spotify Technology currently has an average rating of “Moderate Buy” and a consensus price target of $540.68.

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.