Spotify Technology S.A. (NYSE:SPOT) Shares Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans raised its position in Spotify Technology S.A. (NYSE:SPOT) by 566.1% during the 4th quarter, Holdings Channel reports. The firm owned 7,980 shares of the company’s stock after acquiring an additional 6,782 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Spotify Technology were worth $3,541,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Jennison Associates LLC acquired a new stake in Spotify Technology in the 4th quarter valued at about $1,335,575,000. State Street Corp lifted its holdings in shares of Spotify Technology by 1.5% in the third quarter. State Street Corp now owns 1,997,323 shares of the company’s stock valued at $736,073,000 after purchasing an additional 28,864 shares in the last quarter. FMR LLC grew its position in shares of Spotify Technology by 23.4% in the third 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. Forsta AP Fonden purchased a new position in shares of Spotify Technology during the 4th quarter worth approximately $619,600,000. Finally, Two Sigma Advisers LP raised its position in shares of Spotify Technology by 19.0% during the 3rd quarter. Two Sigma Advisers LP now owns 980,000 shares of the company’s stock worth $361,159,000 after purchasing an additional 156,300 shares during the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on SPOT shares. Morgan Stanley upped their price objective on Spotify Technology from $550.00 to $670.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. The Goldman Sachs Group upped their target price on shares of Spotify Technology from $550.00 to $695.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Guggenheim reiterated a “buy” rating and set a $675.00 price target on shares of Spotify Technology in a report on Monday, February 24th. Canaccord Genuity Group upped their price objective 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. Finally, UBS Group lifted their target price on shares of Spotify Technology from $485.00 to $540.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Eight research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $547.55.

Spotify Technology Stock Down 6.3 %

NYSE:SPOT opened at $576.86 on Thursday. Spotify Technology S.A. has a 52 week low of $257.56 and a 52 week high of $652.63. The company has a market cap of $118.09 billion, a PE ratio of 96.95 and a beta of 1.66. The business’s 50 day moving average is $575.00 and its two-hundred day moving average is $474.75.

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.