Gardner Lewis Asset Management L P Has $5.01 Million Stock Position in Spotify Technology S.A. (NYSE:SPOT)

Gardner Lewis Asset Management L P lessened its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 14.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,208 shares of the company’s stock after selling 1,860 shares during the quarter. Spotify Technology makes up approximately 1.2% of Gardner Lewis Asset Management L P’s investment portfolio, making the stock its 28th largest position. Gardner Lewis Asset Management L P’s holdings in Spotify Technology were worth $5,014,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SPOT. Hillsdale Investment Management Inc. bought a new position in shares of Spotify Technology in the 4th quarter valued at $27,000. Prestige Wealth Management Group LLC acquired a new position in Spotify Technology during the 3rd quarter worth approximately $26,000. Hobbs Group Advisors LLC bought a new position in shares of Spotify Technology in the 3rd quarter valued at $33,000. Larson Financial Group LLC boosted its position in Spotify Technology by 51.6% during the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock worth $36,000 after buying an additional 33 shares during the period. Finally, Quent Capital LLC grew its holdings in Spotify Technology by 135.7% during the 4th quarter. Quent Capital LLC now owns 99 shares of the company’s stock worth $44,000 after acquiring an additional 57 shares during the last quarter. 84.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Macquarie lifted their price target on shares of Spotify Technology from $500.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Benchmark upped their price target on Spotify Technology from $600.00 to $720.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. Guggenheim reissued a “buy” rating and issued a $675.00 price target on shares of Spotify Technology in a research note on Monday, February 24th. UBS Group lifted their price objective on Spotify Technology from $485.00 to $540.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Finally, The Goldman Sachs Group increased their target price on shares of Spotify Technology from $550.00 to $695.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Eight investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $547.55.

Spotify Technology Stock Performance

Shares of NYSE:SPOT opened at $580.27 on Friday. The firm has a market cap of $118.79 billion, a P/E ratio of 97.52 and a beta of 1.66. Spotify Technology S.A. has a 52-week low of $258.00 and a 52-week high of $652.63. The business’s 50 day simple moving average is $576.80 and its two-hundred day simple moving average is $475.48.

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.