Spotify Technology S.A. (NYSE:SPOT) Stock Holdings Decreased by Spark Investment Management LLC

Spark Investment Management LLC trimmed its stake in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 44.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,000 shares of the company's stock after selling 5,600 shares during the quarter. Spotify Technology makes up 15.2% of Spark Investment Management LLC's holdings, making the stock its 2nd biggest holding. Spark Investment Management LLC's holdings in Spotify Technology were worth $3,132,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in SPOT. Prestige Wealth Management Group LLC purchased a new stake in shares of Spotify Technology during the 3rd quarter valued at $26,000. Hobbs Group Advisors LLC purchased a new stake in Spotify Technology in the third quarter valued at approximately $33,000. Larson Financial Group LLC grew its position in Spotify Technology by 51.6% in the third quarter. Larson Financial Group LLC now owns 97 shares of the company's stock worth $36,000 after acquiring an additional 33 shares in the last quarter. Quent Capital LLC raised its stake in shares of Spotify Technology by 135.7% during the fourth quarter. Quent Capital LLC now owns 99 shares of the company's stock worth $44,000 after acquiring an additional 57 shares in the last quarter. Finally, Noble Wealth Management PBC bought a new position in Spotify Technology during the 4th quarter worth approximately $52,000. 84.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Wolfe Research restated a "peer perform" rating on shares of Spotify Technology in a report on Friday, January 17th. Citigroup raised their target price on shares of Spotify Technology from $540.00 to $720.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. Wells Fargo & Company upped their price target on Spotify Technology from $520.00 to $690.00 and gave the company an "overweight" rating in a report on Wednesday, February 5th. Barclays raised their price objective on shares of Spotify Technology from $475.00 to $710.00 and gave the stock an "overweight" rating in a report on Wednesday, February 5th. Finally, Canaccord Genuity Group increased their target price on Spotify Technology from $650.00 to $700.00 and gave the stock a "buy" rating in a research report on Wednesday, February 5th. Eight investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $540.68.

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Spotify Technology Price Performance

Shares of SPOT traded up $11.13 during mid-day trading on Tuesday, reaching $615.84. The stock had a trading volume of 1,571,942 shares, compared to its average volume of 2,106,639. The firm has a market cap of $126.07 billion, a price-to-earnings ratio of 103.50 and a beta of 1.66. Spotify Technology S.A. has a 52-week low of $257.56 and a 52-week high of $652.63. The business's fifty day moving average is $570.20 and its 200 day moving average is $471.97.

Spotify Technology 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.