AQR Capital Management LLC Has $167.63 Million Stock Holdings in Spotify Technology S.A. (NYSE:SPOT)

AQR Capital Management LLC boosted its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 31.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 374,696 shares of the company’s stock after buying an additional 89,063 shares during the quarter. AQR Capital Management LLC’s holdings in Spotify Technology were worth $167,632,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Candlestick Capital Management LP boosted its position in shares of Spotify Technology by 3.7% during the fourth quarter. Candlestick Capital Management LP now owns 108,974 shares of the company’s stock worth $48,753,000 after purchasing an additional 3,885 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of Spotify Technology by 1,608.1% during the 4th quarter. California State Teachers Retirement System now owns 184,377 shares of the company’s stock worth $82,487,000 after purchasing an additional 173,583 shares during the last quarter. Northern Trust Corp grew its stake in Spotify Technology by 103.7% in the 4th quarter. Northern Trust Corp now owns 1,426,902 shares of the company’s stock valued at $638,367,000 after buying an additional 726,245 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in Spotify Technology in the 4th quarter valued at about $17,151,000. Finally, Public Employees Retirement Association of Colorado acquired a new position in Spotify Technology in the 4th quarter valued at about $13,108,000. Institutional investors and hedge funds own 84.09% of the company’s stock.

Analyst Upgrades and Downgrades

SPOT has been the topic of a number of recent research reports. UBS Group lowered their price objective on Spotify Technology from $690.00 to $680.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Wolfe Research upgraded Spotify Technology from a “peer perform” rating to an “outperform” rating and set a $660.00 price objective on the stock in a research report on Monday, April 21st. Redburn Atlantic assumed coverage on Spotify Technology in a research report on Tuesday, March 11th. They set a “neutral” rating and a $545.00 price objective on the stock. Benchmark lifted their target price on Spotify Technology from $600.00 to $720.00 and gave the stock a “buy” rating in a report on Wednesday, February 5th. Finally, Barclays lifted their target price on Spotify Technology from $475.00 to $710.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Seven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $596.26.

Spotify Technology Trading Down 3.8 %

Shares of NYSE:SPOT opened at $597.27 on Tuesday. The stock’s fifty day simple moving average is $570.33 and its two-hundred day simple moving average is $509.96. Spotify Technology S.A. has a 1-year low of $280.37 and a 1-year high of $652.63. The stock has a market cap of $122.27 billion, a PE ratio of 100.38 and a beta of 1.75.

Spotify Technology (NYSE:SPOT) last released its earnings results on Tuesday, April 29th. The company reported $1.13 EPS for the quarter, missing analysts’ consensus estimates of $2.29 by ($1.16). Spotify Technology had a return on equity of 25.56% and a net margin of 7.26%. On average, sell-side analysts forecast that Spotify Technology S.A. will post 10.3 earnings per share for the current fiscal year.

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.