Winslow Capital Management LLC reduced its holdings in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 22.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,489,379 shares of the company's stock after selling 440,769 shares during the quarter. Spotify Technology comprises 2.4% of Winslow Capital Management LLC's investment portfolio, making the stock its 12th largest position. Winslow Capital Management LLC owned approximately 0.75% of Spotify Technology worth $666,318,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Auxano Advisors LLC increased its stake in shares of Spotify Technology by 2.5% in the 4th quarter. Auxano Advisors LLC now owns 828 shares of the company's stock worth $370,000 after acquiring an additional 20 shares in the last quarter. SRS Capital Advisors Inc. increased its holdings in Spotify Technology by 4.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 573 shares of the company's stock worth $256,000 after buying an additional 25 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in shares of Spotify Technology by 5.4% during the fourth quarter. First Horizon Advisors Inc. now owns 504 shares of the company's stock valued at $225,000 after purchasing an additional 26 shares during the last quarter. Harbour Investments Inc. lifted its holdings in shares of Spotify Technology by 13.3% during the 4th quarter. Harbour Investments Inc. now owns 222 shares of the company's stock valued at $99,000 after buying an additional 26 shares during the period. Finally, Cookson Peirce & Co. Inc. grew its stake in shares of Spotify Technology by 1.9% during the 4th quarter. Cookson Peirce & Co. Inc. now owns 1,467 shares of the company's stock valued at $656,000 after purchasing an additional 27 shares during the period. Hedge funds and other institutional investors own 84.09% of the company's stock.
Spotify Technology Stock Up 1.1 %
Shares of NYSE:SPOT traded up $5.95 during midday trading on Monday, reaching $549.61. The company's stock had a trading volume of 873,760 shares, compared to its average volume of 2,176,783. The stock has a fifty day moving average of $581.80 and a 200 day moving average of $493.82. The firm has a market capitalization of $112.51 billion, a PE ratio of 92.37 and a beta of 1.75. Spotify Technology S.A. has a twelve month low of $267.76 and a twelve month high of $652.63.
Analyst Ratings Changes
Several equities research analysts have recently commented on SPOT shares. Canaccord Genuity Group upped their price objective on Spotify Technology from $650.00 to $700.00 and gave the stock a "buy" rating in a research note on Wednesday, February 5th. Morgan Stanley lifted their price objective on Spotify Technology from $550.00 to $670.00 and gave the company an "overweight" rating in a research report on Wednesday, February 5th. FBN Securities started coverage on shares of Spotify Technology in a research note on Friday, March 28th. They set a "sector perform" rating and a $645.00 target price on the stock. Guggenheim reiterated a "buy" rating and issued a $675.00 price target on shares of Spotify Technology in a research report on Monday, February 24th. Finally, Macquarie increased their target price on Spotify Technology from $500.00 to $600.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Nine analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat, Spotify Technology currently has a consensus rating of "Moderate Buy" and an average price target of $555.30.
Read Our Latest Research Report on SPOT
About Spotify Technology
(
Free Report)
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.
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