Spotify Technology S.A. (NYSE:SPOT) Shares Acquired by Atika Capital Management LLC

Atika Capital Management LLC boosted its holdings in Spotify Technology S.A. (NYSE:SPOT) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 41,600 shares of the company’s stock after purchasing an additional 900 shares during the period. Spotify Technology comprises 2.0% of Atika Capital Management LLC’s portfolio, making the stock its 11th largest position. Atika Capital Management LLC’s holdings in Spotify Technology were worth $18,611,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Thrivent Financial for Lutherans raised its stake in shares of Spotify Technology by 566.1% in the 4th quarter. Thrivent Financial for Lutherans now owns 7,980 shares of the company’s stock valued at $3,541,000 after purchasing an additional 6,782 shares in the last quarter. Jennison Associates LLC bought a new stake in Spotify Technology in the fourth quarter valued at about $1,335,575,000. Marks Group Wealth Management Inc acquired a new stake in Spotify Technology during the fourth quarter valued at approximately $535,000. Patriot Financial Group Insurance Agency LLC bought a new position in Spotify Technology during the 4th quarter worth approximately $214,000. Finally, Swedbank AB grew its position in shares of Spotify Technology by 20.9% in the 4th quarter. Swedbank AB now owns 946,129 shares of the company’s stock worth $423,279,000 after acquiring an additional 163,626 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Morgan Stanley raised their price objective on Spotify Technology from $550.00 to $670.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Wells Fargo & Company raised their price target on shares of Spotify Technology from $690.00 to $740.00 and gave the stock an “overweight” rating in a research report on Friday, March 28th. Macquarie boosted their price objective on shares of Spotify Technology from $500.00 to $600.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. The Goldman Sachs Group increased their price objective on shares of Spotify Technology from $550.00 to $695.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Finally, Wolfe Research restated a “peer perform” rating on shares of Spotify Technology in a research note on Friday, January 17th. Nine research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $557.47.

Spotify Technology Trading Down 9.9 %

Shares of SPOT opened at $502.90 on Friday. The business’s 50-day moving average price is $583.28 and its 200 day moving average price is $485.42. The stock has a market capitalization of $102.95 billion, a P/E ratio of 84.52 and a beta of 1.75. Spotify Technology S.A. has a 1-year low of $267.76 and a 1-year high of $652.63.

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.