American Century Companies Inc. Buys 33,470 Shares of Spotify Technology S.A. (NYSE:SPOT)

American Century Companies Inc. grew its stake in Spotify Technology S.A. (NYSE:SPOT) by 16.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 236,360 shares of the company’s stock after purchasing an additional 33,470 shares during the quarter. American Century Companies Inc.’s holdings in Spotify Technology were worth $105,743,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Jennison Associates LLC purchased a new position in Spotify Technology in the fourth quarter valued at about $1,335,575,000. Forsta AP Fonden bought a new position in shares of Spotify Technology during the 4th quarter worth approximately $619,600,000. Amundi lifted its position in Spotify Technology by 194.2% during the fourth quarter. Amundi now owns 750,030 shares of the company’s stock valued at $359,812,000 after acquiring an additional 495,087 shares during the last quarter. Swiss National Bank acquired a new stake in Spotify Technology in the fourth quarter valued at approximately $189,197,000. Finally, FMR LLC grew its holdings in Spotify Technology by 23.4% in the third quarter. FMR LLC now owns 1,567,818 shares of the company’s stock worth $577,788,000 after purchasing an additional 297,035 shares during the last quarter. 84.09% of the stock is owned by hedge funds and other institutional investors.

Spotify Technology Price Performance

Shares of NYSE SPOT opened at $605.18 on Tuesday. The company has a market capitalization of $123.88 billion, a P/E ratio of 101.71 and a beta of 1.66. The company has a 50 day simple moving average of $570.20 and a 200-day simple moving average of $471.97. Spotify Technology S.A. has a 1 year low of $257.56 and a 1 year high of $652.63.

Analyst Ratings Changes

Several analysts have recently commented on the company. Canaccord Genuity Group increased their price objective on Spotify Technology from $650.00 to $700.00 and gave the company a “buy” rating in a report on Wednesday, February 5th. UBS Group raised their target price on Spotify Technology from $485.00 to $540.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Macquarie lifted their price target on Spotify Technology from $500.00 to $600.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Wolfe Research restated a “peer perform” rating on shares of Spotify Technology in a research note on Friday, January 17th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $658.00 target price (up previously from $473.00) on shares of Spotify Technology in a research report on Wednesday, February 5th. Eight investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $540.68.

Spotify Technology 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.