Spotify Technology S.A. (NYSE:SPOT) Position Trimmed by Transatlantique Private Wealth LLC

Transatlantique Private Wealth LLC reduced its position in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 17.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,930 shares of the company's stock after selling 1,248 shares during the period. Spotify Technology comprises 1.0% of Transatlantique Private Wealth LLC's portfolio, making the stock its 23rd largest position. Transatlantique Private Wealth LLC's holdings in Spotify Technology were worth $2,653,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Thrivent Financial for Lutherans boosted its stake in shares of Spotify Technology by 566.1% during the 4th quarter. Thrivent Financial for Lutherans now owns 7,980 shares of the company's stock valued at $3,541,000 after buying an additional 6,782 shares during the last quarter. Jennison Associates LLC acquired a new stake in Spotify Technology in the fourth quarter valued at $1,335,575,000. Marks Group Wealth Management Inc bought a new position in Spotify Technology during the 4th quarter valued at $535,000. Patriot Financial Group Insurance Agency LLC acquired a new position in Spotify Technology during the 4th quarter worth $214,000. Finally, Swedbank AB increased its position in shares of Spotify Technology by 20.9% in the 4th quarter. Swedbank AB now owns 946,129 shares of the company's stock worth $423,279,000 after purchasing an additional 163,626 shares during the last quarter. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Spotify Technology Price Performance

Shares of SPOT traded up $12.58 during midday trading on Thursday, reaching $605.28. The stock had a trading volume of 1,554,759 shares, compared to its average volume of 2,124,080. The company has a market capitalization of $123.91 billion, a P/E ratio of 101.73 and a beta of 1.75. The firm's 50 day moving average price is $572.08 and its 200-day moving average price is $503.17. Spotify Technology S.A. has a 52 week low of $271.65 and a 52 week high of $652.63.

Analyst Ratings Changes

SPOT has been the topic of several research analyst reports. Redburn Atlantic assumed coverage on shares of Spotify Technology in a research report on Tuesday, March 11th. They set a "neutral" rating and a $545.00 price target on the stock. The Goldman Sachs Group boosted 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. Barclays raised their price objective on Spotify Technology from $475.00 to $710.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 5th. Morgan Stanley boosted their target price on shares of Spotify Technology from $550.00 to $670.00 and gave the company an "overweight" rating in a research note on Wednesday, February 5th. Finally, Macquarie lifted their price target on shares of Spotify Technology from $500.00 to $600.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Seven research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $585.32.

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.