GS Investments Inc. Cuts Stake in Spotify Technology S.A. (NYSE:SPOT)

GS Investments Inc. reduced its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 1.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,846 shares of the company’s stock after selling 35 shares during the quarter. GS Investments Inc.’s holdings in Spotify Technology were worth $826,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of SPOT. Jennison Associates LLC acquired a new stake in Spotify Technology during the 4th quarter valued at approximately $1,335,575,000. Forsta AP Fonden acquired a new stake in Spotify Technology in the 4th quarter valued at approximately $619,600,000. Amundi raised its position in shares of Spotify Technology by 194.2% during the 4th quarter. Amundi now owns 750,030 shares of the company’s stock worth $359,812,000 after buying an additional 495,087 shares in the last quarter. Swiss National Bank acquired a new stake in shares of Spotify Technology in the fourth quarter valued at $189,197,000. Finally, FMR LLC boosted its holdings in Spotify Technology by 23.4% during 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 in the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Trading Up 2.9 %

SPOT opened at $585.75 on Thursday. The business has a 50 day moving average of $562.18 and a 200-day moving average of $465.39. The stock has a market capitalization of $119.91 billion, a price-to-earnings ratio of 98.45 and a beta of 1.66. Spotify Technology S.A. has a 1-year low of $254.42 and a 1-year high of $652.63.

Analyst Ratings Changes

SPOT has been the subject of a number of analyst reports. Citigroup upped their price objective on shares of Spotify Technology from $540.00 to $720.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Guggenheim reaffirmed a “buy” rating and issued a $675.00 price objective on shares of Spotify Technology in a research note on Monday, February 24th. Barclays lifted their price objective on shares of Spotify Technology from $475.00 to $710.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Benchmark increased their target price on Spotify Technology from $600.00 to $720.00 and gave the company a “buy” rating in a report on Wednesday, February 5th. Finally, UBS Group raised their price objective on Spotify Technology from $485.00 to $540.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Eight analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $540.68.

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.