Pictet Asset Management Holding SA Has $95.64 Million Stock Position in Spotify Technology S.A. (NYSE:SPOT)

Pictet Asset Management Holding SA raised its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 157.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 213,773 shares of the company’s stock after acquiring an additional 130,833 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.11% of Spotify Technology worth $95,638,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Auxano Advisors LLC boosted its position in Spotify Technology by 2.5% during the fourth quarter. Auxano Advisors LLC now owns 828 shares of the company’s stock valued at $370,000 after purchasing an additional 20 shares during the last quarter. SRS Capital Advisors Inc. raised its stake in shares of Spotify Technology by 4.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 573 shares of the company’s stock worth $256,000 after purchasing an additional 25 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Spotify Technology by 5.4% in the 4th quarter. First Horizon Advisors Inc. now owns 504 shares of the company’s stock valued at $225,000 after buying an additional 26 shares during the last quarter. Harbour Investments Inc. boosted its holdings in shares of Spotify Technology by 13.3% in the 4th quarter. Harbour Investments Inc. now owns 222 shares of the company’s stock valued at $99,000 after buying an additional 26 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. increased its holdings in 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 currently owned by institutional investors and hedge funds.

Spotify Technology Stock Down 3.5 %

SPOT opened at $559.76 on Friday. The stock has a market capitalization of $114.59 billion, a price-to-earnings ratio of 94.08 and a beta of 1.66. Spotify Technology S.A. has a twelve month low of $260.80 and a twelve month high of $652.63. The company has a 50-day simple moving average of $578.28 and a 200 day simple moving average of $478.17.

Analyst Ratings Changes

A number of analysts have commented on the stock. Canaccord Genuity Group increased their price target 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. Benchmark raised their target price on shares of Spotify Technology from $600.00 to $720.00 and gave the company a “buy” rating in a research note on Wednesday, February 5th. Wells Fargo & Company boosted their price target on Spotify Technology from $690.00 to $740.00 and gave the stock an “overweight” rating in a research report on Friday. Macquarie raised their price objective on Spotify Technology from $500.00 to $600.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, China Renaissance began coverage on Spotify Technology in a report on Wednesday. They set a “buy” rating and a $740.00 target price on the stock. Nine analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $552.47.

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.