Spotify Technology S.A. (NYSE:SPOT) is Baillie Gifford & Co.'s 5th Largest Position

Baillie Gifford & Co. lowered its stake in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 15.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,157,694 shares of the company's stock after selling 2,412,641 shares during the period. Spotify Technology makes up 4.5% of Baillie Gifford & Co.'s investment portfolio, making the stock its 5th biggest holding. Baillie Gifford & Co. owned about 6.61% of Spotify Technology worth $5,886,489,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. increased its position in shares of Spotify Technology by 5.8% during the third quarter. First Horizon Advisors Inc. now owns 478 shares of the company's stock worth $176,000 after acquiring an additional 26 shares in the last quarter. West Bancorporation Inc. increased its position in shares of Spotify Technology by 3.4% during the third quarter. West Bancorporation Inc. now owns 827 shares of the company's stock worth $305,000 after acquiring an additional 27 shares in the last quarter. Joel Isaacson & Co. LLC increased its position in shares of Spotify Technology by 1.9% during the fourth quarter. Joel Isaacson & Co. LLC now owns 1,559 shares of the company's stock worth $697,000 after acquiring an additional 29 shares in the last quarter. Avior Wealth Management LLC increased its position in shares of Spotify Technology by 12.0% during the third quarter. Avior Wealth Management LLC now owns 281 shares of the company's stock worth $104,000 after acquiring an additional 30 shares in the last quarter. Finally, Park National Corp OH increased its position in shares of Spotify Technology by 4.1% during the fourth quarter. Park National Corp OH now owns 793 shares of the company's stock worth $355,000 after acquiring an additional 31 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $480.00 price objective (down from $490.00) on shares of Spotify Technology in a research report on Tuesday, January 28th. Barclays lifted their price target on Spotify Technology from $475.00 to $710.00 and gave the stock an "overweight" rating in a report on Wednesday, February 5th. KeyCorp upped their price objective on Spotify Technology from $555.00 to $600.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. UBS Group boosted their price target on shares of Spotify Technology from $485.00 to $540.00 and gave the stock a "buy" rating in a report on Wednesday, January 15th. Finally, Phillip Securities restated an "accumulate" rating and set a $485.00 price objective (up previously from $420.00) on shares of Spotify Technology in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $529.43.

Spotify Technology Price Performance

Shares of NYSE:SPOT traded up $8.28 on Wednesday, hitting $638.84. The company's stock had a trading volume of 963,124 shares, compared to its average volume of 2,047,029. The company has a 50-day simple moving average of $514.65 and a 200 day simple moving average of $430.88. Spotify Technology S.A. has a 1 year low of $239.66 and a 1 year high of $652.63. The company has a market capitalization of $127.16 billion, a PE ratio of 107.47 and a beta of 1.63.

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.