Spark Investment Management LLC Has $3.13 Million Stock Position in Spotify Technology S.A. (NYSE:SPOT)

Spark Investment Management LLC lessened its holdings in Spotify Technology S.A. (NYSE:SPOT) by 44.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 7,000 shares of the company’s stock after selling 5,600 shares during the quarter. Spotify Technology comprises about 15.2% of Spark Investment Management LLC’s portfolio, making the stock its 2nd largest holding. Spark Investment Management LLC’s holdings in Spotify Technology were worth $3,132,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Jennison Associates LLC purchased a new stake in shares of Spotify Technology in the 4th quarter worth approximately $1,335,575,000. Forsta AP Fonden purchased a new stake in shares of Spotify Technology in the fourth quarter worth $619,600,000. Amundi increased its holdings in shares of Spotify Technology by 194.2% during the fourth quarter. Amundi now owns 750,030 shares of the company’s stock valued at $359,812,000 after acquiring an additional 495,087 shares in the last quarter. Swiss National Bank purchased a new position in shares of Spotify Technology in the 4th quarter worth about $189,197,000. Finally, FMR LLC boosted its stake in Spotify Technology by 23.4% in the 3rd quarter. FMR LLC now owns 1,567,818 shares of the company’s stock worth $577,788,000 after purchasing an additional 297,035 shares in the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Wall Street Analysts Forecast Growth

SPOT has been the subject of a number of analyst reports. KeyCorp raised their price objective on shares of Spotify Technology from $555.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Rosenblatt Securities restated a “neutral” rating and issued a $658.00 price objective (up from $473.00) on shares of Spotify Technology in a report on Wednesday, February 5th. Cantor Fitzgerald reiterated a “neutral” rating and set a $480.00 target price (down from $490.00) on shares of Spotify Technology in a research note on Tuesday, January 28th. Benchmark boosted their price target on Spotify Technology from $600.00 to $720.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. Finally, JPMorgan Chase & Co. increased their price objective on Spotify Technology from $555.00 to $730.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Eight equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $540.68.

Spotify Technology Stock Performance

Shares of Spotify Technology stock opened at $592.78 on Friday. Spotify Technology S.A. has a fifty-two week low of $257.56 and a fifty-two week high of $652.63. The company has a market capitalization of $121.35 billion, a P/E ratio of 99.63 and a beta of 1.66. The company has a fifty day moving average of $564.44 and a 200 day moving average of $466.28.

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.