Lone Pine Capital Adds $25M in Spotify Technology S.A. ($SPOT)
Key Points
- Lone Pine Capital changed its Spotify Technology S.A. ($SPOT) stake by 287.6% last quarter, boosting to 68,844 shares worth $33.18 million.
- Wall Street's consensus rating on $SPOT is Buy and an average price target of $607.24.
- $SPOT last traded around $482.00.
Lone Pine Capital increased its position in Spotify Technology S.A. ($SPOT) by 287.6% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 68,844 shares of Spotify Technology S.A. after buying 51,082 shares during the quarter. Lone Pine Capital's holdings in Spotify Technology S.A. were worth $33.18 million as of its most recent filing.
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About Spotify Technology S.A.
Spotify Technology S.A., together with its subsidiaries, provides audio streaming subscription services worldwide. It operates in two segments, Premium and Ad-Supported. The Premium segment offers online and offline streaming access to its catalog of music and podcasts, including video, lossless music, and audiobooks in select markets through subscription offerings primarily sold directly to end users and partners. The Ad-Supported segment provides limited on-demand online access to its catalog of music and online and offline access to its catalog of podcasts on computers, tablets, mobile devices, and other smart devices. The company also offers sales, distribution and marketing, contract research and development, and customer and other support services. Spotify Technology S.A. was incorporated in 2006 and is headquartered in Stockholm, Sweden.
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