Cookson Peirce & Co. Inc. Buys 27 Shares of Spotify Technology S.A. (NYSE:SPOT)

Cookson Peirce & Co. Inc. raised its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 1.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,467 shares of the company’s stock after acquiring an additional 27 shares during the period. Cookson Peirce & Co. Inc.’s holdings in Spotify Technology were worth $656,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Jennison Associates LLC purchased a new stake in shares of Spotify Technology in the fourth quarter valued at about $1,335,575,000. Forsta AP Fonden bought a new stake in Spotify Technology in the 4th quarter worth about $619,600,000. WCM Investment Management LLC increased its stake in Spotify Technology by 18.5% in the 3rd quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock valued at $1,430,142,000 after buying an additional 605,755 shares during the last quarter. FMR LLC boosted its stake in shares of Spotify Technology by 23.4% in the 3rd quarter. FMR LLC now owns 1,567,818 shares of the company’s stock worth $577,788,000 after buying an additional 297,035 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new position in shares of Spotify Technology in the fourth quarter valued at approximately $125,694,000. 84.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. Guggenheim reiterated a “buy” rating and set a $675.00 price target on shares of Spotify Technology in a report on Monday, February 24th. Citigroup lifted their target price on Spotify Technology from $540.00 to $720.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. TD Cowen increased their price target on shares of Spotify Technology from $356.00 to $416.00 and gave the company a “hold” rating in a research report on Wednesday, November 13th. Barclays raised their price objective on shares of Spotify Technology from $475.00 to $710.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Finally, Phillip Securities reiterated an “accumulate” rating and issued a $485.00 target price (up from $420.00) on shares of Spotify Technology in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, Spotify Technology currently has an average rating of “Moderate Buy” and a consensus price target of $529.43.

Spotify Technology Stock Performance

Shares of Spotify Technology stock opened at $586.51 on Thursday. The company’s 50 day moving average price is $544.65 and its 200-day moving average price is $451.00. Spotify Technology S.A. has a 52-week low of $249.58 and a 52-week high of $652.63. The stock has a market capitalization of $120.06 billion, a price-to-earnings ratio of 98.57 and a beta of 1.66.

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.