Canada Pension Plan Investment Board decreased its position in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 17.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 232,772 shares of the company's stock after selling 49,600 shares during the quarter. Canada Pension Plan Investment Board owned 0.12% of Spotify Technology worth $104,138,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also modified their holdings of the company. Auxano Advisors LLC lifted its holdings in shares of Spotify Technology by 2.5% in 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 last quarter. SRS Capital Advisors Inc. lifted its stake in shares of Spotify Technology by 4.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 573 shares of the company's stock worth $256,000 after acquiring an additional 25 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in Spotify Technology by 5.4% during the 4th quarter. First Horizon Advisors Inc. now owns 504 shares of the company's stock valued at $225,000 after acquiring an additional 26 shares during the period. Harbour Investments Inc. grew its position in Spotify Technology by 13.3% in the 4th quarter. Harbour Investments Inc. now owns 222 shares of the company's stock valued at $99,000 after acquiring an additional 26 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. increased its stake in Spotify Technology by 1.9% in the fourth quarter. Cookson Peirce & Co. Inc. now owns 1,467 shares of the company's stock worth $656,000 after purchasing an additional 27 shares during the period. 84.09% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on SPOT shares. JPMorgan Chase & Co. lowered their price objective on shares of Spotify Technology from $730.00 to $640.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Canaccord Genuity Group raised their price objective on Spotify Technology from $650.00 to $700.00 and gave the stock a "buy" rating in a report on Wednesday, February 5th. Morgan Stanley upped their target price on Spotify Technology from $550.00 to $670.00 and gave the stock an "overweight" rating in a report on Wednesday, February 5th. The Goldman Sachs Group raised their price target on Spotify Technology from $550.00 to $695.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Finally, Benchmark upped their price objective on shares of Spotify Technology from $600.00 to $720.00 and gave the stock a "buy" rating in a research note on Wednesday, February 5th. Seven research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $585.32.
Check Out Our Latest Report on Spotify Technology
Spotify Technology Stock Up 0.4 %
SPOT traded up $2.30 on Wednesday, reaching $592.69. The company's stock had a trading volume of 1,077,248 shares, compared to its average volume of 2,160,025. The company has a market capitalization of $121.33 billion, a price-to-earnings ratio of 99.61 and a beta of 1.75. Spotify Technology S.A. has a fifty-two week low of $271.65 and a fifty-two week high of $652.63. The stock has a 50 day moving average of $573.00 and a two-hundred day moving average of $502.56.
Spotify Technology Profile
(
Free Report)
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.
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