Privium Fund Management B.V. Lowers Position in Spotify Technology S.A. (NYSE:SPOT)

Privium Fund Management B.V. lessened its stake in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 2.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 145,000 shares of the company's stock after selling 4,000 shares during the period. Spotify Technology accounts for approximately 14.7% of Privium Fund Management B.V.'s holdings, making the stock its 2nd biggest position. Privium Fund Management B.V. owned 0.07% of Spotify Technology worth $64,870,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Jennison Associates LLC purchased a new stake in Spotify Technology during the fourth quarter valued at $1,335,575,000. Forsta AP Fonden bought a new stake in shares of Spotify Technology in the 4th quarter worth about $619,600,000. Amundi raised its position in shares of Spotify Technology by 194.2% during the 4th quarter. Amundi now owns 750,030 shares of the company's stock valued at $359,812,000 after buying an additional 495,087 shares in the last quarter. Swiss National Bank bought a new position in shares of Spotify Technology in the 4th quarter valued at about $189,197,000. Finally, FMR LLC grew its position in Spotify Technology by 23.4% in the third quarter. FMR LLC now owns 1,567,818 shares of the company's stock worth $577,788,000 after acquiring an additional 297,035 shares in the last quarter. Hedge funds and other institutional investors own 84.09% of the company's stock.

Spotify Technology Trading Up 0.9 %

Shares of SPOT traded up $5.09 during mid-day trading on Friday, hitting $599.64. The company's stock had a trading volume of 2,543,337 shares, compared to its average volume of 2,107,412. The firm has a market capitalization of $122.75 billion, a price-to-earnings ratio of 100.78 and a beta of 1.66. The company's 50-day moving average is $567.23 and its 200-day moving average is $469.03. Spotify Technology S.A. has a 52-week low of $257.56 and a 52-week high of $652.63.

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Wall Street Analyst Weigh In

SPOT has been the topic of a number of recent research reports. Wolfe Research restated a "peer perform" rating on shares of Spotify Technology in a research report on Friday, January 17th. The Goldman Sachs Group increased their price target on Spotify Technology from $550.00 to $695.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Wells Fargo & Company raised their price target on Spotify Technology from $520.00 to $690.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 5th. Guggenheim reissued a "buy" rating and issued a $675.00 target price on shares of Spotify Technology in a research note on Monday, February 24th. Finally, Macquarie raised their target price on shares of Spotify Technology from $500.00 to $600.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Eight equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $540.68.

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.