MSA Advisors LLC Cuts Holdings in Spotify Technology S.A. (NYSE:SPOT)

MSA Advisors LLC lessened its holdings in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 87.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,275 shares of the company's stock after selling 30,140 shares during the period. Spotify Technology makes up approximately 0.5% of MSA Advisors LLC's portfolio, making the stock its 14th largest position. MSA Advisors LLC's holdings in Spotify Technology were worth $1,913,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jennison Associates LLC purchased a new position in Spotify Technology in the fourth quarter worth approximately $1,335,575,000. GQG Partners LLC purchased a new position in Spotify Technology in the fourth quarter valued at $800,725,000. Forsta AP Fonden acquired a new stake in Spotify Technology in the fourth quarter valued at $619,600,000. Amundi lifted its holdings in Spotify Technology by 194.2% during the 4th quarter. Amundi now owns 750,030 shares of the company's stock worth $359,812,000 after buying an additional 495,087 shares during the last quarter. Finally, Swiss National Bank purchased a new stake in Spotify Technology during the fourth quarter worth approximately $189,197,000. Hedge funds and other institutional investors own 84.09% of the company's stock.

Spotify Technology Stock Performance

NYSE SPOT traded down $18.35 during mid-day trading on Monday, reaching $542.81. 1,665,824 shares of the stock were exchanged, compared to its average volume of 2,155,359. The stock has a market capitalization of $111.12 billion, a PE ratio of 91.32 and a beta of 1.66. Spotify Technology S.A. has a 1-year low of $260.80 and a 1-year high of $652.63. The business's fifty day simple moving average is $578.28 and its 200 day simple moving average is $479.17.

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Analyst Ratings Changes

Several research firms have issued reports on SPOT. Wolfe Research restated a "peer perform" rating on shares of Spotify Technology in a research note on Friday, January 17th. Cantor Fitzgerald restated a "neutral" rating and set a $480.00 price target (down previously from $490.00) on shares of Spotify Technology in a research note on Tuesday, January 28th. FBN Securities initiated coverage on Spotify Technology in a research note on Friday. They issued a "sector perform" rating and a $645.00 price objective for the company. JPMorgan Chase & Co. raised their target price on shares of Spotify Technology from $555.00 to $730.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 5th. Finally, Wells Fargo & Company upped their price target on shares of Spotify Technology from $690.00 to $740.00 and gave the company an "overweight" rating in a research report on Friday. Nine investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company's stock. According to MarketBeat, Spotify Technology has a consensus rating of "Moderate Buy" and an average target price of $552.47.

Spotify Technology Company 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.