Artisan Partners Limited Partnership Lowers Stock Position in Spotify Technology S.A. (NYSE:SPOT)

Artisan Partners Limited Partnership cut its holdings in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 5.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,302,196 shares of the company's stock after selling 74,935 shares during the quarter. Artisan Partners Limited Partnership owned approximately 0.65% of Spotify Technology worth $582,576,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Auxano Advisors LLC grew its holdings in shares of Spotify Technology by 2.5% during the 4th quarter. Auxano Advisors LLC now owns 828 shares of the company's stock worth $370,000 after acquiring an additional 20 shares during the period. SRS Capital Advisors Inc. boosted its position in shares of Spotify Technology by 4.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 573 shares of the company's stock valued at $256,000 after purchasing an additional 25 shares in the last quarter. First Horizon Advisors Inc. grew its stake in Spotify Technology by 5.4% in the fourth quarter. First Horizon Advisors Inc. now owns 504 shares of the company's stock worth $225,000 after purchasing an additional 26 shares during the period. Harbour Investments Inc. raised its holdings in Spotify Technology by 13.3% in the fourth quarter. Harbour Investments Inc. now owns 222 shares of the company's stock worth $99,000 after purchasing an additional 26 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. lifted its position in Spotify Technology by 1.9% during the fourth quarter. Cookson Peirce & Co. Inc. now owns 1,467 shares of the company's stock valued at $656,000 after buying an additional 27 shares during the period. Hedge funds and other institutional investors own 84.09% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. UBS Group increased their price target on shares of Spotify Technology from $485.00 to $540.00 and gave the stock a "buy" rating in a research note on Wednesday, January 15th. Guggenheim reaffirmed a "buy" rating and set a $675.00 target price on shares of Spotify Technology in a research note on Monday, February 24th. Rosenblatt Securities reissued a "neutral" rating and issued a $658.00 price target (up from $473.00) on shares of Spotify Technology in a research report on Wednesday, February 5th. Wolfe Research reaffirmed a "peer perform" rating on shares of Spotify Technology in a research report on Friday, January 17th. Finally, JPMorgan Chase & Co. lifted their price objective on Spotify Technology from $555.00 to $730.00 and gave the company an "overweight" rating in a research note on Wednesday, February 5th. Nine research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat, Spotify Technology currently has an average rating of "Moderate Buy" and a consensus price target of $552.47.

Spotify Technology Price Performance

Shares of NYSE:SPOT traded down $25.47 during trading on Monday, hitting $535.69. The company's stock had a trading volume of 1,205,008 shares, compared to its average volume of 2,153,723. The firm has a market cap of $109.66 billion, a price-to-earnings ratio of 89.83 and a beta of 1.66. The company has a 50-day moving average of $578.28 and a 200-day moving average of $479.17. Spotify Technology S.A. has a 12 month low of $260.80 and a 12 month high of $652.63.

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.