Spotify Technology S.A. (NYSE:SPOT) Stock Position Lowered by Marshall Wace LLP

Marshall Wace LLP reduced its stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 81.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,702 shares of the company's stock after selling 302,119 shares during the period. Marshall Wace LLP's holdings in Spotify Technology were worth $30,289,000 at the end of the most recent reporting period.

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

Spotify Technology Stock Performance

Shares of NYSE SPOT traded up $15.70 during trading on Thursday, reaching $608.40. The stock had a trading volume of 805,962 shares, compared to its average volume of 2,371,688. The stock has a market cap of $124.54 billion, a PE ratio of 102.25 and a beta of 1.75. Spotify Technology S.A. has a one year low of $271.65 and a one year high of $652.63. The firm's 50 day moving average price is $572.08 and its two-hundred day moving average price is $503.17.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Wolfe Research raised Spotify Technology from a "peer perform" rating to an "outperform" rating and set a $660.00 target price on the stock in a report on Monday. Rosenblatt Securities reissued a "neutral" rating and set a $658.00 price target (up from $473.00) on shares of Spotify Technology in a report on Wednesday, February 5th. UBS Group cut their target price on shares of Spotify Technology from $690.00 to $680.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. JPMorgan Chase & Co. decreased their target price on Spotify Technology from $730.00 to $640.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Morgan Stanley boosted their price target on shares of Spotify Technology from $550.00 to $670.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 5th. Seven 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.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $585.32.

About Spotify Technology

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.