Spotify Technology S.A. (NYSE:SPOT) Position Cut by Privium Fund Management B.V.

Privium Fund Management B.V. lowered its position in Spotify Technology S.A. (NYSE:SPOT) by 2.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 145,000 shares of the company’s stock after selling 4,000 shares during the period. Spotify Technology comprises approximately 14.7% of Privium Fund Management B.V.’s holdings, making the stock its 2nd largest position. Privium Fund Management B.V.’s holdings in Spotify Technology were worth $64,870,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Vinva Investment Management Ltd purchased a new stake in Spotify Technology in the 4th quarter valued at $6,134,000. Brooklyn FI LLC acquired a new position in Spotify Technology in the fourth quarter valued at $658,000. Trillium Asset Management LLC increased its stake in Spotify Technology by 35.9% in the fourth quarter. Trillium Asset Management LLC now owns 53,490 shares of the company’s stock valued at $23,931,000 after purchasing an additional 14,144 shares during the period. Xponance Inc. raised its holdings in shares of Spotify Technology by 8.8% in the fourth quarter. Xponance Inc. now owns 21,097 shares of the company’s stock valued at $9,438,000 after buying an additional 1,711 shares during the last quarter. Finally, OPTIMAS CAPITAL Ltd boosted its stake in shares of Spotify Technology by 17.2% during the fourth quarter. OPTIMAS CAPITAL Ltd now owns 6,800 shares of the company’s stock worth $3,042,000 after buying an additional 1,000 shares during the period. 84.09% of the stock is owned by institutional investors and hedge funds.

Spotify Technology Trading Down 4.7 %

Shares of SPOT opened at $569.63 on Wednesday. Spotify Technology S.A. has a 12-month low of $249.58 and a 12-month high of $652.63. The stock has a market cap of $116.61 billion, a P/E ratio of 95.74 and a beta of 1.66. The company has a 50-day moving average of $560.06 and a two-hundred day moving average of $464.55.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on Spotify Technology from $555.00 to $730.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. KeyCorp boosted their target price on Spotify Technology from $555.00 to $600.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Guggenheim reaffirmed a “buy” rating and set a $675.00 price target on shares of Spotify Technology in a report on Monday, February 24th. Morgan Stanley boosted their price objective 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, Canaccord Genuity Group raised their target price on shares of Spotify Technology from $650.00 to $700.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. Eight research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Spotify Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $540.68.

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.