Bank Julius Baer & Co. Ltd Zurich Has $17.90 Million Holdings in Spotify Technology S.A. (NYSE:SPOT)

Bank Julius Baer & Co. Ltd Zurich grew its stake in Spotify Technology S.A. (NYSE:SPOT) by 57.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,270 shares of the company’s stock after buying an additional 13,976 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Spotify Technology were worth $17,903,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. WCM Investment Management LLC lifted its position in shares of Spotify Technology by 18.5% in the third quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock worth $1,430,142,000 after buying an additional 605,755 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Spotify Technology by 3.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,492,170 shares of the company’s stock worth $1,286,969,000 after buying an additional 102,786 shares during the last quarter. Jennison Associates LLC acquired a new stake in shares of Spotify Technology in the fourth quarter worth about $1,335,575,000. State Street Corp lifted its position 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 worth $736,073,000 after buying an additional 28,864 shares during the last quarter. Finally, FMR LLC increased its stake 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 worth $577,788,000 after purchasing an additional 297,035 shares during the period. Institutional investors and hedge funds own 84.09% of the company’s stock.

Wall Street Analysts Forecast Growth

SPOT has been the topic of a number of recent analyst reports. KeyCorp lifted their price objective on Spotify Technology from $555.00 to $600.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Cantor Fitzgerald reiterated a “neutral” rating and issued a $480.00 price objective (down from $490.00) on shares of Spotify Technology in a research note on Tuesday, January 28th. Guggenheim reiterated a “buy” rating and issued a $675.00 price objective on shares of Spotify Technology in a research note on Monday, February 24th. Bank of America lifted their price objective on Spotify Technology from $430.00 to $515.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Canaccord Genuity Group lifted their price objective on Spotify Technology from $650.00 to $700.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $529.43.

Spotify Technology Price Performance

Shares of SPOT opened at $531.15 on Friday. The company has a market capitalization of $108.73 billion, a P/E ratio of 89.27 and a beta of 1.66. Spotify Technology S.A. has a one year low of $249.58 and a one year high of $652.63. The business’s 50 day simple moving average is $547.82 and its 200-day simple moving average is $453.67.

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.