Meeder Asset Management Inc. Increases Stock Holdings in Spotify Technology S.A. (NYSE:SPOT)

Meeder Asset Management Inc. increased its holdings in Spotify Technology S.A. (NYSE:SPOT) by 14,361.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,292 shares of the company’s stock after buying an additional 12,207 shares during the period. Meeder Asset Management Inc.’s holdings in Spotify Technology were worth $5,499,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Axiom Investors LLC DE lifted its holdings in shares of Spotify Technology by 1,552.4% in the fourth quarter. Axiom Investors LLC DE now owns 227,178 shares of the company’s stock valued at $101,635,000 after purchasing an additional 213,430 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its stake in Spotify Technology by 18.5% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 22,598 shares of the company’s stock valued at $10,110,000 after buying an additional 3,536 shares in the last quarter. Clearbridge Investments LLC acquired a new stake in Spotify Technology during the 4th quarter valued at $142,773,000. RWA Wealth Partners LLC increased its position in Spotify Technology by 1.9% during the fourth quarter. RWA Wealth Partners LLC now owns 4,320 shares of the company’s stock worth $1,933,000 after buying an additional 80 shares in the last quarter. Finally, Schroder Investment Management Group raised its holdings in shares of 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 during the last quarter. 84.09% of the stock is owned by institutional investors and hedge funds.

Spotify Technology Price Performance

NYSE SPOT opened at $559.76 on Monday. The company 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 12 month low of $260.80 and a 12 month high of $652.63. The company’s fifty day moving average price is $578.28 and its two-hundred day moving average price is $479.17.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. KeyCorp lifted their price objective on Spotify Technology from $555.00 to $600.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Barclays boosted their price objective on shares of Spotify Technology from $475.00 to $710.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. JPMorgan Chase & Co. raised their target price on shares of Spotify Technology from $555.00 to $730.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Canaccord Genuity Group boosted their price target on Spotify Technology from $650.00 to $700.00 and gave the company a “buy” rating in a report on Wednesday, February 5th. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $658.00 price target (up previously from $473.00) on shares of Spotify Technology in a research note on Wednesday, February 5th. Nine investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat.com, Spotify Technology currently has a consensus rating of “Moderate Buy” and an average price target of $552.47.

Spotify Technology Company 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.