Comgest Global Investors S.A.S. cut its stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 31.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 31,933 shares of the company's stock after selling 14,630 shares during the quarter. Comgest Global Investors S.A.S.'s holdings in Spotify Technology were worth $14,286,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hillsdale Investment Management Inc. bought a new position in shares of Spotify Technology during the fourth quarter valued at about $27,000. Quent Capital LLC grew its position in Spotify Technology by 135.7% during the 4th quarter. Quent Capital LLC now owns 99 shares of the company's stock worth $44,000 after acquiring an additional 57 shares during the last quarter. Noble Wealth Management PBC purchased a new position in Spotify Technology in the 4th quarter worth approximately $52,000. Larson Financial Group LLC increased its stake in shares of Spotify Technology by 48.5% in the fourth quarter. Larson Financial Group LLC now owns 144 shares of the company's stock worth $64,000 after buying an additional 47 shares during the period. Finally, Versant Capital Management Inc raised its stake in shares of Spotify Technology by 89.9% during the fourth quarter. Versant Capital Management Inc now owns 150 shares of the company's stock valued at $67,000 after acquiring an additional 71 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors.
Spotify Technology Stock Up 2.1 %
SPOT stock traded up $11.78 during mid-day trading on Friday, hitting $574.85. The company had a trading volume of 1,731,552 shares, compared to its average volume of 2,185,128. The company has a 50-day moving average price of $576.70 and a 200 day moving average price of $497.49. Spotify Technology S.A. has a 12-month low of $267.76 and a 12-month high of $652.63. The company has a market capitalization of $117.68 billion, a price-to-earnings ratio of 96.61 and a beta of 1.75.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on the company. Wolfe Research restated a "peer perform" rating on shares of Spotify Technology in a research report on Friday, January 17th. Guggenheim reiterated a "buy" rating and issued a $675.00 target price on shares of Spotify Technology in a research note on Monday, February 24th. Benchmark lifted their price target 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. Barclays boosted their price objective on shares of Spotify Technology from $475.00 to $710.00 and gave the company an "overweight" rating in a report on Wednesday, February 5th. Finally, Cantor Fitzgerald dropped their target price on shares of Spotify Technology from $600.00 to $520.00 and set a "neutral" rating on the stock in a report on Wednesday. Nine analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, Spotify Technology has a consensus rating of "Moderate Buy" and a consensus target price of $564.45.
Read Our Latest Stock Analysis on Spotify Technology
Spotify Technology Company 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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