New York State Common Retirement Fund Reduces Stock Holdings in Spotify Technology S.A. (NYSE:SPOT)

New York State Common Retirement Fund reduced its holdings in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 18.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 288,547 shares of the company's stock after selling 63,778 shares during the period. New York State Common Retirement Fund owned about 0.14% of Spotify Technology worth $129,090,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Prestige Wealth Management Group LLC purchased a new position in Spotify Technology during the 3rd quarter worth $26,000. Hobbs Group Advisors LLC purchased a new position in Spotify Technology during the 3rd quarter worth $33,000. Larson Financial Group LLC increased its holdings in Spotify Technology by 51.6% during the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company's stock worth $36,000 after purchasing an additional 33 shares during the period. Quent Capital LLC increased its holdings 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 purchasing an additional 57 shares during the period. Finally, V Square Quantitative Management LLC purchased a new position in Spotify Technology during the 3rd quarter worth $40,000. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Spotify Technology Price Performance

SPOT traded down $29.79 during trading hours on Friday, reaching $606.98. The company's stock had a trading volume of 2,197,419 shares, compared to its average volume of 2,063,644. The business's 50-day moving average is $521.07 and its 200-day moving average is $433.77. Spotify Technology S.A. has a fifty-two week low of $243.99 and a fifty-two week high of $652.63. The stock has a market cap of $120.82 billion, a PE ratio of 102.01 and a beta of 1.63.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SPOT shares. Barclays lifted their price target on Spotify Technology from $475.00 to $710.00 and gave the company an "overweight" rating in a report on Wednesday, February 5th. UBS Group lifted their price target on Spotify Technology from $485.00 to $540.00 and gave the company a "buy" rating in a report on Wednesday, January 15th. Macquarie lifted their price target on Spotify Technology from $500.00 to $600.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Wolfe Research reiterated a "peer perform" rating on shares of Spotify Technology in a report on Friday, January 17th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $480.00 price target (down from $490.00) on shares of Spotify Technology in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $529.43.

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.