Hussman Strategic Advisors Inc. Cuts Stock Position in Spotify Technology S.A. (NYSE:SPOT)

Hussman Strategic Advisors Inc. lowered its stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 25.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,300 shares of the company's stock after selling 2,100 shares during the quarter. Spotify Technology comprises approximately 0.8% of Hussman Strategic Advisors Inc.'s holdings, making the stock its 28th largest holding. Hussman Strategic Advisors Inc.'s holdings in Spotify Technology were worth $2,818,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Prestige Wealth Management Group LLC purchased a new position in shares of Spotify Technology in the third quarter valued at $26,000. Hobbs Group Advisors LLC purchased a new stake in Spotify Technology during the third quarter valued at $33,000. Larson Financial Group LLC lifted its position in Spotify Technology by 51.6% during the third quarter. Larson Financial Group LLC now owns 97 shares of the company's stock valued at $36,000 after purchasing an additional 33 shares during the last quarter. Rakuten Securities Inc. lifted its position in Spotify Technology by 40.5% during the third quarter. Rakuten Securities Inc. now owns 111 shares of the company's stock valued at $41,000 after purchasing an additional 32 shares during the last quarter. Finally, Quent Capital LLC grew its stake in shares of Spotify Technology by 135.7% in the 4th quarter. Quent Capital LLC now owns 99 shares of the company's stock worth $44,000 after buying an additional 57 shares in the last quarter. Institutional investors own 84.09% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Bank of America upped their target price on shares of Spotify Technology from $430.00 to $515.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. upped their price objective on Spotify Technology from $555.00 to $730.00 and gave the company an "overweight" rating in a research report on Wednesday, February 5th. Wolfe Research reiterated a "peer perform" rating on shares of Spotify Technology in a report on Friday, January 17th. Macquarie boosted their target price on Spotify Technology from $500.00 to $600.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Finally, Pivotal Research raised their price objective on shares of Spotify Technology from $510.00 to $565.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $529.43.

Spotify Technology Stock Down 4.7 %

SPOT stock traded down $29.79 during trading on Friday, hitting $606.98. 2,197,419 shares of the company's stock traded hands, compared to its average volume of 2,063,644. The firm has a market capitalization of $120.82 billion, a P/E ratio of 102.01 and a beta of 1.63. Spotify Technology S.A. has a 1 year low of $243.99 and a 1 year high of $652.63. The business has a fifty day simple moving average of $521.07 and a two-hundred day simple moving average of $433.77.

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.