Assenagon Asset Management S.A. reduced its holdings in shares of Spotify Technology S.A. (NYSE:SPOT – Free Report) by 90.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,844 shares of the company’s stock after selling 343,370 shares during the period. Assenagon Asset Management S.A.’s holdings in Spotify Technology were worth $16,483,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. WCM Investment Management LLC increased its stake in shares of Spotify Technology by 18.5% in the 3rd quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock worth $1,430,142,000 after purchasing an additional 605,755 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Spotify Technology by 3.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,492,170 shares of the company’s stock valued at $1,286,969,000 after purchasing an additional 102,786 shares during the period. State Street Corp increased its position in Spotify Technology by 1.5% in the third quarter. State Street Corp now owns 1,997,323 shares of the company’s stock worth $736,073,000 after buying an additional 28,864 shares in the last quarter. FMR LLC raised its stake in shares of Spotify Technology by 23.4% in the third quarter. FMR LLC now owns 1,567,818 shares of the company’s stock worth $577,788,000 after buying an additional 297,035 shares during the period. Finally, Two Sigma Advisers LP lifted its position in shares of Spotify Technology by 19.0% during the 3rd quarter. Two Sigma Advisers LP now owns 980,000 shares of the company’s stock valued at $361,159,000 after buying an additional 156,300 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors.
Spotify Technology Stock Down 0.9 %
NYSE SPOT opened at $486.07 on Friday. Spotify Technology S.A. has a 52 week low of $200.81 and a 52 week high of $506.47. The firm has a market capitalization of $96.75 billion, a price-to-earnings ratio of 132.08 and a beta of 1.62. The company has a fifty day moving average of $467.11 and a two-hundred day moving average of $388.20.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on the stock. Morgan Stanley raised their target price on shares of Spotify Technology from $430.00 to $460.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Rosenblatt Securities lifted their target price on shares of Spotify Technology from $399.00 to $438.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $340.00 price target on shares of Spotify Technology in a research note on Monday, October 7th. Canaccord Genuity Group boosted their price objective on Spotify Technology from $525.00 to $560.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Finally, Barclays increased their target price on Spotify Technology from $385.00 to $475.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $441.21.
Get Our Latest Report on Spotify Technology
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.
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