Mesirow Financial Investment Management Inc. Sells 22 Shares of Spotify Technology S.A. (NYSE:SPOT)

Mesirow Financial Investment Management Inc. decreased its holdings in Spotify Technology S.A. (NYSE:SPOT) by 2.0% in the fourth quarter, Holdings Channel reports. The fund owned 1,087 shares of the company’s stock after selling 22 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Spotify Technology were worth $486,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Aigen Investment Management LP raised its position in Spotify Technology by 42.4% in the 3rd quarter. Aigen Investment Management LP now owns 9,800 shares of the company’s stock worth $3,612,000 after purchasing an additional 2,918 shares during the period. Jennison Associates LLC purchased a new stake in Spotify Technology in the 4th quarter worth about $1,335,575,000. Marks Group Wealth Management Inc purchased a new stake in Spotify Technology in the 4th quarter worth about $535,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in Spotify Technology in the 4th quarter worth about $214,000. Finally, Pathway Capital Management LP raised its position in Spotify Technology by 23.8% in the 3rd quarter. Pathway Capital Management LP now owns 57,340 shares of the company’s stock worth $21,132,000 after purchasing an additional 11,042 shares during the period. 84.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SPOT shares. Pivotal Research increased their price objective on shares of Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. TD Cowen increased their price objective on shares of Spotify Technology from $356.00 to $416.00 and gave the stock a “hold” rating in a research report on Wednesday, November 13th. Benchmark raised their target price on shares of Spotify Technology from $600.00 to $720.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. Guggenheim reaffirmed a “buy” rating and set a $675.00 target price on shares of Spotify Technology in a research report on Monday, February 24th. Finally, UBS Group raised their target price on shares of Spotify Technology from $485.00 to $540.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $529.43.

Spotify Technology Stock Down 2.3 %

Shares of SPOT opened at $531.15 on Friday. The company has a market cap of $108.73 billion, a price-to-earnings ratio of 89.27 and a beta of 1.66. Spotify Technology S.A. has a twelve month low of $249.58 and a twelve month high of $652.63. The company has a 50 day moving average of $547.82 and a two-hundred day moving average of $453.67.

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.