D1 Capital Partners L.P. Decreases Stake in Spotify Technology S.A. (NYSE:SPOT)

D1 Capital Partners L.P. lessened its position in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 46.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 326,254 shares of the company's stock after selling 278,000 shares during the period. Spotify Technology comprises 2.4% of D1 Capital Partners L.P.'s investment portfolio, making the stock its 15th biggest holding. D1 Capital Partners L.P. owned about 0.16% of Spotify Technology worth $145,960,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Jennison Associates LLC acquired a new position in Spotify Technology in the fourth quarter valued at approximately $1,335,575,000. FMR LLC grew its position in shares of Spotify Technology by 30.2% in the 4th quarter. FMR LLC now owns 2,041,387 shares of the company's stock valued at $913,276,000 after buying an additional 473,569 shares during the last quarter. Schroder Investment Management Group raised its stake in Spotify Technology by 0.4% during the 4th quarter. Schroder Investment Management Group now owns 1,912,937 shares of the company's stock worth $855,810,000 after acquiring an additional 7,075 shares in the last quarter. GQG Partners LLC purchased a new stake in Spotify Technology in the fourth quarter valued at $800,725,000. Finally, Geode Capital Management LLC boosted its stake in Spotify Technology by 561.6% in the fourth quarter. Geode Capital Management LLC now owns 1,483,392 shares of the company's stock valued at $659,841,000 after acquiring an additional 1,259,183 shares in the last quarter. 84.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Benchmark upped their target price on Spotify Technology from $600.00 to $720.00 and gave the company a "buy" rating in a research report on Wednesday, February 5th. Guggenheim reissued a "buy" rating and issued a $675.00 price objective on shares of Spotify Technology in a report on Monday, February 24th. JPMorgan Chase & Co. cut their target price on shares of Spotify Technology from $730.00 to $640.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Citigroup raised their price objective on shares of Spotify Technology from $540.00 to $720.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. Finally, Redburn Atlantic began coverage on shares of Spotify Technology in a research note on Tuesday, March 11th. They set a "neutral" rating and a $545.00 target price for the company. Seven analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $585.32.

Spotify Technology Trading Up 0.3 %

NYSE:SPOT opened at $591.90 on Thursday. The firm has a market cap of $121.17 billion, a price-to-earnings ratio of 99.48 and a beta of 1.75. Spotify Technology S.A. has a 12-month low of $271.65 and a 12-month high of $652.63. The company's 50-day moving average is $572.08 and its two-hundred day moving average is $503.17.

Spotify Technology 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.

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