Gardner Lewis Asset Management L P Sells 1,860 Shares of Spotify Technology S.A. (NYSE:SPOT)

Gardner Lewis Asset Management L P trimmed its position in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 14.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,208 shares of the company's stock after selling 1,860 shares during the quarter. Spotify Technology makes up approximately 1.2% of Gardner Lewis Asset Management L P's portfolio, making the stock its 28th largest position. Gardner Lewis Asset Management L P's holdings in Spotify Technology were worth $5,014,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in SPOT. Level Four Advisory Services LLC lifted its holdings in shares of Spotify Technology by 5.7% in the fourth quarter. Level Four Advisory Services LLC now owns 2,546 shares of the company's stock valued at $1,139,000 after purchasing an additional 137 shares in the last quarter. Orion Portfolio Solutions LLC grew its stake in shares of Spotify Technology by 105.0% in the 4th quarter. Orion Portfolio Solutions LLC now owns 6,831 shares of the company's stock valued at $3,056,000 after buying an additional 3,499 shares in the last quarter. Pictet Asset Management Holding SA increased its holdings in Spotify Technology by 157.7% in the fourth quarter. Pictet Asset Management Holding SA now owns 213,773 shares of the company's stock worth $95,638,000 after buying an additional 130,833 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in Spotify Technology by 4,763.8% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 44,747 shares of the company's stock valued at $20,019,000 after acquiring an additional 43,827 shares in the last quarter. Finally, Norges Bank acquired a new stake in Spotify Technology in the fourth quarter valued at approximately $396,028,000. Institutional investors and hedge funds own 84.09% of the company's stock.

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Analyst Ratings Changes

Several research analysts have recently commented on the stock. Barclays increased their price target on shares of Spotify Technology from $475.00 to $710.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 5th. JPMorgan Chase & Co. raised their target price on Spotify Technology from $555.00 to $730.00 and gave the company an "overweight" rating in a 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. Redburn Atlantic began coverage on Spotify Technology in a report on Tuesday, March 11th. They set a "neutral" rating and a $545.00 price objective on the stock. Finally, KeyCorp upped their target price on Spotify Technology from $555.00 to $600.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat.com, Spotify Technology currently has an average rating of "Moderate Buy" and an average target price of $552.47.

Spotify Technology Stock Performance

SPOT traded down $2.71 during midday trading on Tuesday, hitting $547.32. The company had a trading volume of 835,089 shares, compared to its average volume of 2,156,035. Spotify Technology S.A. has a twelve month low of $260.80 and a twelve month high of $652.63. The firm's 50-day simple moving average is $579.58 and its 200-day simple moving average is $480.67. The company has a market capitalization of $112.04 billion, a PE ratio of 91.83 and a beta of 1.66.

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.