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

Thrivent Financial for Lutherans increased its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 566.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,980 shares of the company’s stock after buying 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 large investors have also recently added to or reduced their stakes in the business. Jennison Associates LLC acquired a new position in shares of Spotify Technology in the 4th quarter valued at $1,335,575,000. State Street Corp raised its holdings in Spotify Technology by 1.5% in the 3rd quarter. State Street Corp now owns 1,997,323 shares of the company’s stock valued at $736,073,000 after buying an additional 28,864 shares during the period. FMR LLC lifted its position in 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 buying an additional 297,035 shares during the last quarter. Forsta AP Fonden acquired a new stake in shares of Spotify Technology during the fourth quarter valued at about $619,600,000. Finally, Two Sigma Advisers LP raised its stake in shares of Spotify Technology by 19.0% in the 3rd quarter. Two Sigma Advisers LP now owns 980,000 shares of the company’s stock valued at $361,159,000 after acquiring an additional 156,300 shares during the period. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Price Performance

Spotify Technology stock opened at $576.86 on Thursday. The stock’s 50 day moving average price is $575.00 and its 200 day moving average price is $474.75. Spotify Technology S.A. has a 1-year low of $257.56 and a 1-year 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.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on SPOT shares. Guggenheim reiterated a “buy” rating and issued a $675.00 target price on shares of Spotify Technology in a report on Monday, February 24th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $480.00 price objective (down previously from $490.00) on shares of Spotify Technology in a report on Tuesday, January 28th. Macquarie raised their target price on Spotify Technology from $500.00 to $600.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Benchmark boosted their price target on shares of Spotify Technology from $600.00 to $720.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. Finally, Redburn Atlantic started coverage on shares of Spotify Technology in a research note on Tuesday, March 11th. They issued a “neutral” rating and a $545.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and twenty-one have issued 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 $547.55.

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.